Posted: March 11th, 2023

Excel Project: Projecting Financial Statements Assignment (Company I selected is Wendy’s Corporation)

(This is part 3 of the project)

EXCEL PROJECT: PROJECTING FINANCIAL STATEMENTS ASSIGNMENT
INSTRUCTIONS
OVERVIEW
Common Sized Balance Sheets (Tabs 12), Common Sized Income Statements (Tab 13),
Horizontal Analysis Balance Sheets (Tab 14), Horizontal Analysis Income Statements (Tab 15),
and Projected Financial Statements (Tabs 16-18)
INSTRUCTIONS

Continue in the same Excel workbook prepared in Module 4: Week 4, adding the following
tabs:
o The  12th  tab  in  your  Financial  Statement  Analysis  Template  must  be  labeled
Common Sized Balance Sheets.
 Set-up  like  the  Historical  Balance  Sheets  (Tab  3),  this  worksheet  should  use
formulas to calculate the common sized percentages, linking to the Historical
Balance Sheets for the calculations.  “Total Assets” should be used as the base
for  all  common  sized  calculations  on  the  Balance  Sheets.    Common  sized
percentages should be calculated for all three historical years presented.
 See Exhibit A for a partial example of this tab.
o The  13th  tab  in  your  Financial  Statement  Analysis  Template  must  be  labeled
Common Sized Income Statements.
 Set-up like the Historical Income Statements (Tab 2), this worksheet should use
formulas to calculate the common sized percentages, linking to the Historical
Income  Statements  for  the  calculations.    “Revenue”  or  “Total  Revenue”
(depending on your company) should be used as the base for all common sized
calculations on the Income Statements. Common sized percentages should be
calculated for all three historical years presented.
o The  14th  tab  in  your  Financial  Statement  Analysis  Template  must  be  labeled
Horizontal Analysis of Balance Sheets.
 Start by copying and pasting the Historical Balance Sheets from Tab 3 to this
worksheet.  Then, add dollar and percentage change columns between each of
the set of historical years.
 See Exhibit B for an example of this tab.
o The  15th  tab  in  your  Financial  Statement  Analysis  Template  must  be  labeled
Horizontal Analysis of Income Statements.
 Start by copying and pasting the Historical Income Statements from Tab 2 to
this worksheet.  Then, add dollar and percentage change columns between each
of the set of historical years.
o The 16th tab in your Financial Statement Analysis Template must be labeled
Projected Income Statements.  Three years of projected statements should be
included, starting with the most recent year after the company’s last issued report.
o The 17th tab in your Financial Statement Analysis Template must be labeled
Projected Balance Sheets.  Three years of projected statements should be

ACCT 370
Page 2 of 4
included.  Three years of projected statements should be included, starting with
the most recent year after the company’s last issued report.
o The 18th tab in your Financial Statement Analysis Template must be labeled
Projected Statement of Cash Flows.  Three years of projected statements should
be included, starting with the most recent year after the company’s last issued
report.
 Other information relating to projected tabs:
 Projections should be based on research performed on your company
and its industry.  Use historical, trend, ratio data and current and future
economic projections as well as information from the company’s
MD&A to aid in preparing projections.
 Clearly state your assumptions in a text box at the bottom of each tab.
Cite sources for assumptions based on research.
 The statements should be consistent, reasonable, and accurate.  Areas
that will be checked for accuracy include:
 The Balance Sheets should balance for all years presented.
 Retained earnings should be properly calculated using the prior
year’s balance, net income, and dividends.
 The Ending Cash Balance on the Statement of Cash Flows
should agree to the Cash Balance shown on the Balance Sheet
for the same year.
 Net Income on the Income Statements should match what is
reported on the top of the Statement of Cash Flows (if indirect
method is used).
o Other instructions:
 The Excel workbook should be professionally formatted.  Professional
formatting includes:
 All numbers are formatted similarly.  The use of decimals, commas
for thousands, and other formatting is consistent.
 Dollar  signs  are  included  in  the  first  and  last  numbers  of  each
column.
 Subtotals and totals are preceded by a single underline.  Totals are
followed by a double underline.
 Line  descriptions  are  indented/bolded  in  a  manner  that  makes  the
 All  common  sized,  horizontal  analysis,  and  projection  items  should  be
calculated using formulas.  Totals and subtotals should also be calculated
using formulas.  For an example of which cells may need formulas, please
see Exhibits A & B.
Note: Your assignment will be checked for originality via the Turnitin plagiarism tool.ACCT 370
Page 2 of 4
included.  Three years of projected statements should be included, starting with
the most recent year after the company’s last issued report.
o The 18th tab in your Financial Statement Analysis Template must be labeled
Projected Statement of Cash Flows.  Three years of projected statements should
be included, starting with the most recent year after the company’s last issued
report.
 Other information relating to projected tabs:
 Projections should be based on research performed on your company
and its industry.  Use historical, trend, ratio data and current and future
economic projections as well as information from the company’s
MD&A to aid in preparing projections.
 Clearly state your assumptions in a text box at the bottom of each tab.
Cite sources for assumptions based on research.
 The statements should be consistent, reasonable, and accurate.  Areas
that will be checked for accuracy include:
 The Balance Sheets should balance for all years presented.
 Retained earnings should be properly calculated using the prior
year’s balance, net income, and dividends.
 The Ending Cash Balance on the Statement of Cash Flows
should agree to the Cash Balance shown on the Balance Sheet
for the same year.
 Net Income on the Income Statements should match what is
reported on the top of the Statement of Cash Flows (if the indirect
method is used).
o Other instructions:
 The Excel workbook should be professionally formatted.  Professional
formatting includes:
 All numbers are formatted similarly.  The use of decimals, commas
for thousands, and other formatting are consistent.
 Dollar signs are included in the first and last numbers of each
column.
 Subtotals and totals are preceded by a single underline.  Totals are
followed by a double underline.
 Line descriptions are indented/bolded in a  manner that makes the
 All common-sized,  horizontal analysis and projection items should be
calculated using formulas.  Totals and subtotals should also be calculated
using formulas.  For an example of which cells may need formulas, please
see Exhibits A & B.
Note: Your assignment will be checked for originality via the Turnitin p

Excel Project: Projecting Financial Statements Assignment Instructions

Overview

Common Sized Balance Sheets (Tabs 12), Common Sized Income Statements (Tab 13), Horizontal Analysis Balance Sheets (Tab 14), Horizontal Analysis Income Statements (Tab 15), and Projected Financial Statements (Tabs 16-18)

Instructions

Continue in the same Excel workbook prepared in Module 4: Week 4, adding the following tabs:

· The

12th tab
in your Financial Statement Analysis Template must be labeled Common Sized Balance Sheets.

· Set-up like the Historical Balance Sheets (Tab 3), this worksheet should use formulas to calculate the common sized percentages, linking to the Historical Balance Sheets for the calculations. “Total Assets” should be used as the base for
all common sized calculations on the Balance Sheets. Common sized percentages should be calculated for all three historical years presented.

· See Exhibit A for a partial example of this tab.

· The

13th tab
in your Financial Statement Analysis Template must be labeled Common Sized Income Statements.

· Set-up like the Historical Income Statements (Tab 2), this worksheet should use formulas to calculate the common sized percentages, linking to the Historical Income Statements for the calculations. “Revenue” or “Total Revenue” (depending on your company) should be used as the base for
all common sized calculations on the Income Statements. Common sized percentages should be calculated for all three historical years presented.

· The

14th tab
in your Financial Statement Analysis Template must be labeled Horizontal Analysis of Balance Sheets.

· Start by copying and pasting the Historical Balance Sheets from Tab 3 to this worksheet. Then, add dollar and percentage change columns between each of the set of historical years.

· See Exhibit B for an example of this tab.

· The

15th tab
in your Financial Statement Analysis Template must be labeled Horizontal Analysis of Income Statements.

· Start by copying and pasting the Historical Income Statements from Tab 2 to this worksheet. Then, add dollar and percentage change columns between each of the set of historical years.

· The

16th tab
in your Financial Statement Analysis Template must be labeled Projected Income Statements. Three years of projected statements should be included, starting with the most recent year after the company’s last issued report.

· The

17th tab
in your Financial Statement Analysis Template must be labeled Projected Balance Sheets. Three years of projected statements should be included. Three years of projected statements should be included, starting with the most recent year after the company’s last issued report.

· The

18th tab
in your Financial Statement Analysis Template must be labeled Projected Statement of Cash Flows. Three years of projected statements should be included, starting with the most recent year after the company’s last issued report.

· Other information relating to projected tabs:

· Projections should be based on research performed on your company and its industry. Use historical, trend, ratio data and current and future economic projections as well as information from the company’s MD&A to aid in preparing projections.

· Clearly state your assumptions in a text box at the bottom of each tab. Cite sources for assumptions based on research.

· The statements should be consistent, reasonable, and accurate. Areas that will be checked for accuracy include:

· The Balance Sheets should balance for all years presented.

· Retained earnings should be properly calculated using the prior year’s balance, net income, and dividends.

· The Ending Cash Balance on the Statement of Cash Flows should agree to the Cash Balance shown on the Balance Sheet for the same year.

· Net Income on the Income Statements should match what is reported on the top of the Statement of Cash Flows (if indirect method is used).

· Other instructions:

· The Excel workbook should be professionally formatted. Professional formatting includes:

· All numbers are formatted similarly. The use of decimals, commas for thousands, and other formatting is consistent.

· Dollar signs are included in the first and last numbers of each column.

· Subtotals and totals are preceded by a single underline. Totals are followed by a double underline.

· Line descriptions are indented/bolded in a manner that makes the spreadsheet easy to read.

·
All common sized, horizontal analysis, and projection items should be calculated using formulas.
Totals and subtotals should also be calculated using formulas.  For an example of which cells may need formulas, please see Exhibits A & B.

Note: Your assignment will be checked for originality via the Turnitin plagiarism tool.

ACCT 370

Page 1 of 1

Exhibit A: Example Common Sized Balance Sheets (Tab 12, Partial View)

(IMPORTANT NOTE: Only Partial Balance Sheet shown. Your Balance Sheet should include Liabilities and Stockholders’ Equity as well.)

Exhibit B: Example Horizontal Analysis of Balance Sheets (Tab 14, Partial View)

(IMPORTANT NOTE: Only Partial Balance Sheet shown. Your Balance Sheet should include Liabilities and Stockholders’ Equity as well.)

image1

Company_Information

Wendys Corporation

Fast food Chain

Darrell Soto Diaz

Wendys Corporation

WEN

Fast Food Restaurant

Products and Services Cheeseburgers, Mozzarella Chiken Sandwiches, Hamburgers,Quick Service, Restaurant Dining.

WalMart, Target Corporation, Kroger, Coles Group, and Amazon

Major Competitors Chick-fil-A, KFC, Good Times Restaurants, Lubys and Burger King.

WEN_Income Statements

Wendy’s Company (WEN)

Income Statements

As of December 31, 2022, December 31, 2021, December 31, 2020

USD (\$) Shares in Millions, \$ in Millions

12/31/22
12/31/21
12/31/20

Total Revenue

\$ 2,095,505.00
\$ 1,896,998.00
\$ 1,733,825.00

Cost of Revenue

\$ 1,374,748.00
\$ 1,198,742.00
\$ 1,112,344.00

Gross Profit

\$ 720,757.00
\$ 698,256.00
\$ 621,481.00

Operatong Expense

\$ 364,710.00
\$ 354,042.00
\$ 331,254.00

Operating Income

\$ 356,047.00
\$ 344,214.00
\$ 290,227.00

Net Non Operating Interest Income Expense

\$ (109,185.00)
\$ (117,737.00)

Other Income Expense

\$ (2,733.00)
\$ 5,549.00
\$ (19,695.00)

Pretax Income

\$ 353,314.00
\$ 240,578.00
\$ 152,795.00

Tax Provision

\$ 40,186.00
\$ 34,963.00

Net Income Common Stockholders

\$ 353,314.00
\$ 200,392.00
\$ 117,832.00

Diluted NI Available to Com Stockholders

\$ 353,314.00
\$ 200,392.00
\$ 117,832.00

Basic EPS

\$ – 0
\$ 0.91
\$ 0.53

Diluted EPS

\$ – 0
\$ 0.89
\$ 0.52

Basic Average Shares

\$ – 0
\$ 221,375.00
\$ 223,684.00

Diluted Average Shares

\$ – 0
\$ 224,405.00
\$ 228.01

Total Operating Income as Reported

\$ 353,314.00
\$ 366,960.00
\$ 269,308.00

Total Expenses

\$ 1,739,458.00
\$ 1,552,784.00
\$ 1,443,598.00

Net Income From Continuing and Discontinued Operation

\$ 353,314.00
\$ 200,392.00
\$ 117,832.00

Normalized Income

\$ 354,954.00
\$ 196,337.00
\$ 134,134.00

Net Interst Income

\$ – 0

\$ 29,067.00

Interest Expense

\$ – 0
\$ 109,185.00
\$ 146,804.00

Net Interst Income

\$ – 0
\$ (109,185.00)
\$ (117,737.00)

EBIT

\$ 356,047.00
\$ 349,763.00
\$ 299,599.00

EBITDA

\$ – 0

Reconciled Cost Revenue

\$ 1,374,748.00
\$ 1,198,742.00
\$ 1,112,344.00

Reconciled Depreciation

\$ 133,414.00
\$ 125,540.00
\$ 132,775.00

Net Income from Continuing Operation Net minority Interst

\$ 353,314.00
\$ 200,392.00
\$ 117,832.00

Total Unusual Items Excluding Goodwill

\$ (2,733.00)
\$ 4,868.00
\$ (21,144.00)

Total Unusual Items

\$ (2,733.00)
\$ 4,868.00
\$ (21,144.00)

Normalize EBITDA

\$ 492,194.00
\$ 470,435.00
\$ 453,518.00

Tax Rate for Calcs

\$ – 0
\$ – 0
\$ – 0

Tax Effect of Unusual Items

\$ (1,093.00)
\$ 812.96
\$ (4,842.00)

TGT_Income Statements

Target Corporatios (TGT)

Income Statements

As of December 31, 2022, December 31, 2021, December 31, 2020

USD (\$) Shares in Millions, \$ in Millions

12/31/22
12/31/21
12/31/20

Total Revenue

\$ 106,005,000.00
\$ 93,561,000.00
\$ 7,811,200.00

Cost of Revenue

\$ 74,963,000.00
\$ 66,177,000.00
\$ 54,864,000.00

Gross Profit

\$ 31,042,000.00
\$ 27,384,000.00
\$ 23,248,000.00

Operatong Expense

\$ 22,096,000.00
\$ 20,845,000.00
\$ 18,590,000.00

Operating Income

\$ 8,946,000.00
\$ 6,539,000.00
\$ 4,658,000.00

Net Non Operating Interest Income Expense

\$ (421,000.00)
\$ (977,000.00)
\$ (477,000.00)

Other Income Expense

\$ 382,000.00
\$ (16,000.00)
\$ 9,000.00

Pretax Income

\$ 8,907,000.00
\$ 5,546,000.00
\$ 4,190,000.00

Tax Provision

\$ 1,961,000.00
\$ 1,178,000.00
\$ 921,000.00

Net Income Common Stockholders

\$ 6,946,000.00
\$ 4,368,000.00
\$ 3,281,000.00

Diluted NI Available to Com Stockholders

\$ 6,946,000.00
\$ 4,368,000.00
\$ 3,281,000.00

Basic EPS

\$ 14.23
\$ 8.72
\$ 6.42

Diluted EPS

\$ 14.10
\$ 8.64
\$ 6.36

Basic Average Shares

\$ 488,100.00
\$ 500,600.00
\$ 5,109,000.00

Diluted Average Shares

\$ 492,700.00
\$ 505,400.00
\$ 5,156,000.00

Total Operating Income as Reported

\$ 8,946,000.00
\$ 6,539,000.00
\$ 4,658,000.00

Total Expenses

\$ 97,059,000.00
\$ 87,022,000.00
\$ 73,454,000.00

Net Income From Continuing and Discontinued Operation

\$ 6,946,000.00
\$ 4,368,000.00
\$ 3,281,000.00

Normalized Income

\$ 6,946,000.00
\$ 4,368,000.00
\$ 3,269,000.00

Interest Expense

\$ 421,000.00
\$ 977,000.00
\$ 477,000.00

Net Interst Income

\$ (421,000.00)
\$ (977,000.00)
\$ (477,000.00)

EBIT

\$ 9,328,000.00
\$ 6,523,000.00
\$ 4,667,000.00

EBITDA

\$ – 0

Reconciled Cost Revenue

\$ 74,665,000.00
\$ 65,922,000.00
\$ 54,617,000.00

Reconciled Depreciation

\$ 2,642,000.00
\$ 2,485,000.00
\$ 2,604,000.00

Net Income from Continuing Operation Net minority Interst

\$ 6,946,000.00
\$ 4,368,000.00
\$ 3,269,000.00

Normalize EBITDA

\$ 11,970,000.00
\$ 9,008,000.00
\$ 7,271,000.00

Tax Rate for Calcs

\$ – 0
\$ – 0
\$ – 0

Tax Effect of Unusual Items

\$ – 0
\$ – 0
\$ – 0

WEN_Balance_Sheet

Wendy’s Co

Consilidated Balance Sheets

As of December 31, 2022, December 31, 2021, December 31, 2020

USD (\$) Shares in Millions, \$ in Millions

Assets

31-Dec-22
31-Dec-21
31-Dec-20

Total Assets

\$ 5,101,391.00
\$ 5,040,006.00
\$ 4,994,529.00

Current Asset

\$ 592,849.00
\$ 687,623.00
\$ 554,047.00

Cash, Cash Equivalents and Short Term Investments

\$ 249,438.00
\$ 306,989.00
\$ 300,195.00

Cash And Equivalents

\$ 249,438.00
\$ 306,989.00
\$ 300,195.00

Cash

\$ 249,438.00
\$ 231,922.00
\$ 185,203.00

Cash Equivalents

\$ – 0
\$ 75,067.00
\$ 114,992.00

Receivables

\$ 119,540.00
\$ 109,891.00
\$ 117,461.00

Inventory

\$ 5,934.00
\$ 4,732.00
\$ 3,891.00

Prepaid Assets

\$ 30,586.00
\$ 89,732.00
\$ 15,585.00

Restricted Cash

\$ 187,353.00
\$ 176,279.00
\$ 116,915.00

Other Current Assets

\$ 82,376.00

Liabilities

Total Liabilities Net Minority Interest

\$ 4,664,986.00
\$ 4,490,410.00
\$ 4,478,170.00

Current Liabilities

\$ 426,925.00
\$ 413,308.00
\$ 349,698.00

Payables And Accured Expenses

\$ 69,305.00
\$ 58,225.00
\$ 46,627.00

Payables

\$ 69,305.00
\$ 58,225.00
\$ 46,627.00

Current Accuued Expenses

\$ 140,783.00
\$ 38,361.00
\$ 33,064.00

Current Provision

\$ 2,006.00
\$ 52,272.00

Pension and Other Post Retirement Benefit Plan Current

\$ 63,835.00
\$ 44,264.00
\$ 56,010.00

Current Capital Lease Obligation

\$ 87,078.00
\$ 86,413.00
\$ 77,530.00

Other Current Liabilities

\$ 206,707.00
\$ 184,039.00
\$ 117,259.00

TGT_Balance_Sheet

Target Corporation

Consilidated Balance Sheets

As of December 31, 2022, December 31, 2021, December 31, 2020

USD (\$) Shares in Millions, \$ in Millions

Assets

31-Dec-22
31-Dec-21
31-Dec-20

Total Assets

\$ 53,811,000.00
\$ 51,248,000.00
\$ 42,779,000.00

Current Assets

\$ 21,573,000.00
\$ 20,756,000.00
\$ 12,902,000.00

Cash, Cash Equivalents and Short Term Investments

\$ 5,911,000.00
\$ 8,511,000.00
\$ 2,577,000.00

Cash and Cash Equivalents

\$ 926,000.00
\$ 867,000.00
\$ 767,000.00

Cash

\$ 349,000.00
\$ 307,000.00
\$ 326,000.00

Cash Equivalent

\$ 577,000.00
\$ 560,000.00
\$ 441,000.00

Other Short Term Investment

\$ 4,985,000.00
\$ 7,644,000.00
\$ 1,810,000.00

Receivable

\$ 1,353,000.00
\$ 1,135,000.00
\$ 962,000.00

Accounts receivable

\$ 835,000.00
\$ 631,000.00

Taxes Recievable

\$ 498,000.00

Other Recievables

\$ 518,000.00
\$ 504,000.00
\$ 464,000.00

Inventory

\$ 13,902,000.00
\$ 10,653,000.00
\$ 8,992,000.00

Prepaid Assets

\$ 170,000.00
\$ 171,000.00
\$ 154,000.00

Other Current Assets

\$ 237,000.00
\$ 286,000.00
\$ 217,000.00

Liabilities

Total Liabilities Net Minority Interest

\$ 40,984,000.00
\$ 36,808,000.00
\$ 30,946,000.00

Current Liabilities

\$ 21,747,000.00
\$ 20,125,000.00
\$ 14,487,000.00

Payables And Accured Expenses

\$ 18,223,000.00
\$ 15,890,000.00
\$ 11,858,000.00

Payables

\$ 16,944,000.00
\$ 14,776,000.00
\$ 10,854,000.00

Account Payables

\$ 15,478,000.00
\$ 12,859,000.00
\$ 9,920,000.00

Total Tax Payable

\$ 1,042,000.00
\$ 1,576,000.00
\$ 601,000.00

Income Tax Payable

\$ 473,000.00

Divident Payable

\$ 424,000.00
\$ 341,000.00
\$ 333,000.00

Current Accuued Expenses

\$ 1,279,000.00
\$ 1,114,000.00
\$ 1,004,000.00

Interest Payable

\$ 77,000.00
\$ 79,000.00
\$ 69,000.00

Pension and Other Post Retirement Benefit Plan Current

\$ 1,789,000.00
\$ 1,846,000.00
\$ 1,313,000.00

Current Debt Capital Lease Obligation

\$ 425,000.00
\$ 1,355,000.00
\$ 361,000.00

Current Debt

\$ 171,000.00
\$ 1,144,000.00
\$ 161,000.00

Other Current Borrowings

\$ 171,000.00
\$ 1,144,000.00
\$ 161,000.00

Current Capital lease Obligation

\$ 254,000.00
\$ 211,000.00
\$ 200,000.00

Other Current Liabilities

\$ 1,310,000.00
\$ 1,034,000.00
\$ 955,000.00

WEN_Cash_Flows

Wendy’s Co

Cash Flows

As of December 31, 2021, December 31, 2020, December 31, 2019

USD (\$) Shares in Millions, \$ in Millions

31-Dec-21
31-Dec-20
31-Dec-19

Operating Cash Flow

\$ 345,772.00
\$ 284,361.00
\$ 288,933.00

Cash Flow from Continiung Operating Activities

\$ 345,772.00
\$ 284,361.00
\$ 288,933.00

Net Income from Continuing Operations

\$ 200,392.00
\$ 117,832.00
\$ 136,940.00

Operating Gain Losses

\$ 6,651.00
\$ (6,090.00)
\$ (24,673.00)

Gain Loss On Investment Securities

\$ (63.00)

\$ (24,496.00)

Earning Losses from Equity Investments

\$ (11,203.00)
\$ (6,096.00)
\$ (8,673.00)

Depreciation Amortization Depletion

\$ 125,540.00
\$ 132,775.00
\$ 131,693.00

Depreciation and Amortization

\$ 125,540.00
\$ 132,775.00
\$ 131,693.00

Deferred Tax

\$ (13,781.00)
\$ 10,266.00
\$ 837.00

Deferred Income Tax

\$ 2,251.00
\$ 8,037.00
\$ 6,999.00

Asset Impairment Charge

\$ 22,019.00
\$ 18,930.00
\$ 18,676.00

Stock based compensation

\$ (44,241.00)
\$ (12,336.00)
\$ (13,510.00)

Other non cash items

\$ 30,604.00
\$ 6,577.00
\$ 18,571.00

Change in working capital

\$ (5,613.00)
\$ (16,243.00)
\$ 16,935.00

Change in Receivables

\$ (872.00)
\$ (841.00)
\$ (163.00)

Change in Inventory

\$ (3,396.00)
\$ (8,780.00)
\$ (1,569.00)

Change in Prepaid Assets

\$ 28,966.00
\$ (16,611.00)
\$ 6,088.00

Change in Payables and Accrued Expense

\$ 7,586.00
\$ 1,620.00
\$ 1,054.00

Change in Payable

\$ 7,586.00
\$ 1,620.00
\$ 1,054.00

Change in Account Payable

\$ 21,380.00
\$ (18,231.00)
\$ 5,034.00

Change in Accrued Expense

\$ (40,905.00)
\$ (41,911.00)

Change in Other Current Liabilities

\$ 11,519.00
\$ 49,052.00
\$ (27,200.00)

Chandge in Other Working Capital

\$ 16,337.00
\$ 8,376.00
\$ 13,400.00

Capital Expenditure Reported

\$ (154,669.00)
\$ (68,250.00)
\$ (54,931.00)

\$ (77,984.00)
\$ (68,969.00)
\$ (74,453.00)

\$ (67,951.00)
\$ 1,212.00
\$ (1,604.00)

\$ (123,069.00)
\$ (4,879.00)
\$ (5,052.00)

Net Investment Purchase And Sale

\$ 55,118.00
\$ 6,091.00
\$ 3,448.00

purchase of Investment

\$ (9,937.00)
\$ 169.00
\$ 24,496.00

Sale of Investment

\$ (10,000.00)
\$ – 0
\$ – 0

Net Other Investing Changes

\$ 63.00
\$ 169.00
\$ 24,496.00

Financing Cash Flow

\$ 1,203.00
\$ (662.00)
\$ (3,370.00)

Cash Flow from Continuing Financing Activities

\$ (242,742.00)
\$ (157,907.00)
\$ (365,296.00)

Net Long Term Debt Issuance

\$ (242,742.00)
\$ (157,907.00)
\$ (365,296.00)

Long Term Debt Issuance

\$ 116,016.00
\$ (46,530.00)
\$ (56,635.00)

Long Term Debt Payments

\$ 116,016.00
\$ (46,530.00)
\$ (56,635.00)

Net Common Stock Issuance

\$ 1,100,000.00
\$ 153,315.00
\$ 850,000.00

Common Stock Payments

\$ (983,984.00)
\$ (199,845.00)
\$ (906,635.00)

Cash Dividends Paid

\$ (268,531.00)
\$ (62,173.00)
\$ (217,797.00)

Common Stock Dividend Paid

\$ (268,531.00)
\$ (62,173.00)
\$ (217,797.00)

Proceeds from Stock Option Exercised

\$ (94,846.00)
\$ (64,866.00)
\$ (96,364.00)

Net Other Financing Charges

\$ – 0
\$ (64,866.00)
\$ (96,364.00)

End Cash Position

\$ 30,003.00
\$ 23,361.00
\$ 28,328.00

Changes in Cash

\$ (25,384.00)
\$ (7,699.00)
\$ (22,828.00)

Effect of Exchange Rate Changes

\$ 366,966.00
\$ 418,241.00
\$ 358,707.00

Beginning Cash Position

\$ (51,639.00)
\$ 58,204.00
\$ (131,294.00)

Income Tax Paid Supplemental Data

\$ 364.00
\$ 1,330.00
\$ 3,489.00

Interest Paid Supplemental Data

\$ 133,284.00
\$ 136,228.00
\$ 138,270.00

Capital Expenditure

\$ (77,984.00)
\$ (68,969.00)
\$ (74,453.00)

Issuance of Debt

\$ 1,100,000.00
\$ 153,315.00
\$ 850,000.00

Repayment of Debt

\$ (983,984.00)
\$ (199,845.00)
\$ (906,635.00)

Repurchase of Capital Stock

\$ (268,531.00)
\$ (62,173.00)
\$ (217,797.00)

Free Cash Flow

\$ 267,788.00
\$ 215,392.00
\$ 214,480.00

Total Brakedown

Operating Cash Flow

\$ 345,772.00
\$ 284,361.00
\$ 288,933.00

Investing Cash Flow

-154669
-68250
-54931

Financial Cash Flow

-242742
-157907
-365296

End Cash Position

366966
418241
358707

Income Tax Paid Supplemental Data

54779
16202
34798

Interest Paid Supplemental Data

133284
136228
138270

Capital Expenditure

-77984
-68969
-74453

Issuance of Debt

1100000
153315
850000

Repayment of Debt

-983984
-199845
-906635

Repurchase of Capital Stock

-268531
-62173
-217797

Free Cash Flow

\$ 267,788.00
\$ 215,392.00
\$ 214,480.00

Net Income

\$ 2,000,000.00
\$ 200,000,000.00
\$ 118,000,000.00
\$ 137,000,000.00

\$ (200,000,000.00)

Net Income Comparison

\$ (198,000,000.00)
\$ 6,746,000,000.00
\$ 4,250,000,000.00
\$ 3,132,000,000.00

TGT_Cash_Flows

Target Corporation

Cash Flows

31-Dec-22
31-Dec-21
31-Dec-20

USD (\$) Shares in Millions, \$ in Millions

31-Dec-22
31-Dec-21
31-Dec-20

Operating Cash Flow

\$ 8,625,000.00
\$ 10,525,000.00
\$ 7,117,000.00

Cash Flow from Continiung Operating Activities

\$ 8,625,000.00
\$ 10,525,000.00
\$ 7,099,000.00

Net Income from Continuing Operations

\$ 6,946,000.00
\$ 4,368,000.00
\$ 3,281,000.00

Operating Gain Losses

\$ (335,000.00)
\$ 512,000.00
\$ 10,000.00

Gain Loss On Sales of Business

\$ (335,000.00)

Depreciation Amortization Depletion

\$ 2,642,000.00
\$ 2,485,000.00
\$ 2,604,000.00

Depreciation and Amortization

\$ 2,642,000.00
\$ 2,485,000.00
\$ 2,604,000.00

Deferred Tax

\$ 522,000.00
\$ (184,000.00)
\$ 178,000.00

Deferred Income Tax

\$ 522,000.00
\$ (184,000.00)
\$ 178,000.00

Other non cash items

\$ 228,000.00
\$ 200,000.00
\$ 147,000.00

Change in working capital

\$ 67,000.00
\$ 86,000.00
\$ 17,000.00

Change in Inventory

\$ (1,445,000.00)
\$ 3,058,000.00
\$ 862,000.00

Change in Payables and Accrued Expense

\$ (3,249,000.00)
\$ (1,661,000.00)
\$ 505,000.00

Change in Payable

\$ 1,882,000.00
\$ 4,856,000.00
\$ 339,000.00

Change in Account Payable

\$ 2,628,000.00
\$ 2,925,000.00
\$ 140,000.00

Change in Accrued Expense

\$ 2,628,000.00
\$ 2,925,000.00
\$ 140,000.00

Change in Other Current Assets

\$ (746,000.00)
\$ 1,931,000.00
\$ 199,000.00

Cash Flow from Continuing Financing Activities

\$ – 0
\$ – 0
\$ 18,000.00

Investing in Cash Flow

\$ (3,154,000.00)
\$ (2,591,000.00)
\$ (2,944,000.00)

Cash Flow From Continuing Investing Activities

\$ (3,154,000.00)
\$ (2,591,000.00)
\$ (2,944,000.00)

Capital Expendature Report

\$ (3,154,000.00)
\$ (2,649,000.00)
\$ (3,027,000.00)

Net PPE Purchase And Sale

\$ 27,000.00
\$ 42,000.00
\$ 63,000.00

purchase of PPE

\$ (2,649,000.00)
\$ (3,027,000.00)

Sale of PPE

\$ 27,000.00
\$ 42,000.00
\$ 63,000.00

\$ 356,000.00

\$ – 0

\$ – 0

\$ 356,000.00

Net Investment Purchase And Sale

\$ 7,000.00
\$ 16,000.00
\$ 20,000.00

Financing Cash Flow

\$ (8,071,000.00)
\$ (2,000,000.00)
\$ (3,152,000.00)

Cash Flow from Continuing Financing Activities

\$ (8,071,000.00)
\$ (2,000,000.00)
\$ (3,152,000.00)

Net Issuance Payments of Debt

\$ 825,000.00
\$ 65,000.00
\$ (330,000.00)

Net Long Term Debt Issuance

\$ 825,000.00
\$ 65,000.00
\$ (330,000.00)

Long Term Debt Issuance

\$ 1,972,000.00
\$ 2,480,000.00
\$ 1,739,000.00

Long Term Debt Payments

\$ (1,147,000.00)
\$ (2,415,000.00)
\$ (2,069,000.00)

Net Common Stock Issuance

\$ (7,356,000.00)
\$ (745,000.00)
\$ (1,565,000.00)

Common Stock Payments

\$ (7,356,000.00)
\$ (745,000.00)
\$ (1,565,000.00)

Cash Dividends Paid

\$ (1,548,000.00)
\$ (1,343,000.00)
\$ (1,330,000.00)

Common Stock Dividend Paid

\$ (1,548,000.00)
\$ (1,343,000.00)
\$ (1,330,000.00)

Proceeds from Stock Option Exercised

\$ 8,000.00
\$ 23,000.00
\$ 73,000.00

End Cash Position

\$ 5,911,000.00
\$ 8,511,000.00
\$ 2,577,000.00

Changes in Cash

\$ (2,600,000.00)
\$ 5,934,000.00
\$ 1,021,000.00

Beginning Cash Position

\$ 85,511,000.00
\$ 2,577,000.00
\$ 1,556,000.00

Income Tax Paid Supplemental Data

\$ 2,063,000.00
\$ 1,031,000.00
\$ 696,000.00

Interest Paid Supplemental Data

\$ 414,000.00
\$ 939,000.00
\$ 492,000.00

Capital Expenditure

\$ (3,544,000.00)
\$ (2,649,000.00)
\$ (3,027,000.00)

Issuance of Debt

\$ 1,972,000.00
\$ 2,480,000.00
\$ 1,739,000.00

Repayment of Debt

\$ (1,147,000.00)
\$ (2,415,000.00)
\$ (2,069,000.00)

Repurchase of Capital Stock

\$ (7,356,000.00)
\$ 745,000.00
\$ (1,565,000.00)

Free Cash Flow

\$ 5,081,000.00
\$ 7,876,000.00
\$ 4,090,000.00

Total Brakedown

Total Brakedown

Operating Cash Flow

\$ 3,580,000.00
\$ 8,625,000.00
\$ 10,525,000.00

Investing Cash Flow

\$ (5,367,000.00)
\$ (3,154,000.00)
\$ (2,591,000.00)

Financial Cash Flow

\$ (3,012,000.00)
\$ (8,071,000.00)
\$ (2,000,000.00)

End Cash Position

\$ 954,000.00
\$ 5,911,000.00
\$ 851,100.00

Income Tax Paid Supplemental Data

\$ 2,063,000.00
\$ 1,031,000.00

Interest Paid Supplemental Data

\$ 414,000.00
\$ 939,000.00

Capital Expenditure

\$ (5,384,000.00)
\$ (354,400.00)
\$ (2,649,000.00)

Issuance of Debt

\$ 2,963,000.00
\$ 1,972,000.00
\$ 2,480,000.00

Repayment of Debt

\$ (1,174,000.00)
\$ (1,147,000.00)
\$ (2,415,000.00)

Repurchase of Capital Stock

\$ (5,139,000.00)
\$ (7,356,000.00)
\$ (745,000.00)

Free Cash Flow

\$ (1,804,000.00)
\$ 5,081,000.00
\$ 7,876,000.00

\$ 6,946,000,000.00
\$ 4,368,000,000.00
\$ 3,269,000,000.00

Net Income Comparison

\$ 6,746,000,000.00
\$ 4,250,000,000.00
\$ 3,132,000,000.00

WEN_and_TGT_Ratios

Wendy’s Corporation Historical Ratios

Compertitor Ratio Analysis

As of December 31, 2022, December 31, 2021, December 31, 2020

As of December 31, 2022, December 31, 2021, December 31, 2020

31-Dec-22
31-Dec-21
31-Dec-20

Target
Amazon
Industry Average

Current Ratio

1.38
1.66
1.58

0.99
0.94
0.96

Long-term Debt / Capital

0.86
0.83
0.84

0.51
0.315
0.77

Debt/Equity Ratio

6.77
5.03
5.36

1.06
0.45
3.46

Gross Margin

65.49
63
62.48

29.28
43.8
58.54

Operating Margin

19.34
15.53
15.36

8.43
2.38
32.74

EBIT Margin

19.34
15.53
15.36

8.43
2.38
32.67

EBITDA Margin

25.96
23.19
23.07

10.93
10.53
36.64

Pre-Tax Profit Margin

12.68
8.81
10.03

8.4
-1.15
23.74

Net Profit Margin

10.56
6.79
8.01

6.55
-0.52
14.6

Asset Turnover

0.37
0.34
0.34

1.97
1.11
0.24

Inventory Turnover Ratio

110.31
135.53
164.79

5.39
8.39
24.78

Receivable Turnover

15.86
15.77
14.54

12.13
10.49

Days Sales In Receivables

23
23.134
25.08

30.08
34.78

ROE – Return On Equity

45.91
21.43
26.52

54.15
-1.86
32.52

Return On Tangible Equity

-12.37
-8.26
-9.21

54.15
-2.16
-9.23

ROA – Return On Assets

3.92
2.33
2.74

12.9
-0.58
5.39

ROl= Return On Investment

5.97
3.59
4.2

26.33
-1.27
7.32

Book Value Per Share

2.02
2.45
2.29

27.21
14.25
12.46

Operating Cash Flow Per Share

0.29
0.018
0.31

-3.31
0.08
1.75

Free Cash Flow Per Share

0.46
0.044
0.28

-5.29
-0.25
1.78

Expert paper writers are just a few clicks away

Place an order in 3 easy steps. Takes less than 5 mins.

Calculate the price of your order

You will get a personal manager and a discount.
We'll send you the first draft for approval by at
Total price:
\$0.00