Expert answer:I have Finance Excel assignment
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fina411_excelassignment_fall2017.pdf
fina411_excelassignment_fall2017.xlsx
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FINA 411: Financial Management I
Fall 2017
Excel Assignment
50 points
Work individually. Answer the following questions using Excel to calculate the answers. Submit
your Excel file on Blackboard by 11:59pm on Wednesday, December 6, 2017. 50 points total.
Late submissions up to 24 hours past the deadline receive a 50% discount, 100% thereafter.
Tasks to complete:
1. Download and save the Excel file, “FINA411-ExcelAssignment-Fall2017”. The file is located
in the Excel Assignment folder.
2. Save the file to your own drive and rename the file with your last name and first name. For
example, FINA411-ExcelAssignment-Fall2017-smith-john. (-3 points if you do not rename
your file as required)
3. Use Excel formulae, functions, and cell referencing (when possible) to complete each problem.
DO NOT solve the problem using a calculator and then type the answer in Excel, this will
result in “0” credit for the problem.
4. Submit your answer file on Blackboard by the deadline.
Fair warning: file sharing is an act of academic dishonesty. See policy in the syllabus.
You have a full-time job, but want to open a dance studio and give small group lessons on evenings
and weekends. You live in an apartment, so you will need to rent a studio space and spend some
money up front for decorations and music equipment. You want to know if this idea is worth
pursuing. You estimate the following items related to the project:
Dance Studio Project Description
Project life (years)
Required return
3
25%
Sales Data
Unit Sales (annual)
Unit Price
Cost Data
Unit cost
Dance studio rent (annual)
Equipment cost (one-time purchase)
Depreciation expense (annual)
Net working capital (annual)
Tax rate
2,000
$25
$15
$12,000
$12,000
$4,000
$5,000
35%
FINA 411: Financial Management I
Fall 2017
1.
2.
3.
4.
5.
6.
Excel Assignment
50 points
Year 0 Total Capital Requirements
Net working capital + equipment
$17,000
Change in Net Working Capital
Year 0
Year 1
Year 2
Year 3
-$5,000
$0
$0
$5,000
Prepare pro forma income statements for three years
Calculate the project’s NPV (use Excel function)
Calculate the project’s IRR (use Excel function)
Calculate the project’s Payback Period
Calculate the project’s MIRR
Insert a text box in your spreadsheet, state whether you accept or reject this project, and
briefly explain your rationale.
Helpful Information:
Income Statement
Sales
Cost of Goods
Gross Profit
Fixed Costs
Depreciation
EBIT=Gross profit – fixed costs – depreciation
Tax Expense=EBIT*tax rate
Net Income
Excel Functions
=NPV(
=IRR(
Dance Studio Project Description
Inputs
Project life (years)
Required return
Pro Forma Income Statement
0
Sales
Cost of Goods
Gross Profit
Fixed Costs
Depreciation
EBIT
Tax Expense
Net Income
Sales Data
Unit Sales (annual)
Unit Price
Cost Data
Unit cost
Dance studio rent (annual)
Equipment cost (one-time purchase)
After-tax equipment salvage (Year 3)
Depreciation expense (annual)
Net working capital (annual)
Tax rate
Pro Forma Cash Flows
0
Year 0 Total Capital Spending-Equipment
Operating cash flow
Change in NWC
Capital spending
Total project cash flow
Change in Net Working Capital
Year 0
Year 1
Year 2
Year 3
NPV
IRR
Years
1
2
3
Years
1
2
3
…
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