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Felicia & Fred, a publicly held U.S. corporation and manufacturer of jewelry, requires

01 / 10 / 2021 Research Papers

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Felicia & Fred, a publicly held U.S. corporation and manufacturer of jewelry, requires a… 1 answer below » Felicia & Fred, a publicly held U.S. corporation and manufacturer of jewelry, requires a financial analysis of its current year operating performance. Previously, the company expanded capacity to include a Czech crystal bracelet product line. During this year, the company expanded its product offering to include women’s accessories, specifically handbags. These are outsourced through a licensing agreement the company initiated with a manufacturer in Asia. In order to preserve intellectual property and branding rights in the United States, this manufacturer exclusively has the right to View complete question » Felicia & Fred, a publicly held U.S. corporation and manufacturer of jewelry, requires a financial analysis of its current year operating performance. Previously, the company expanded capacity to include a Czech crystal bracelet product line. During this year, the company expanded its product offering to include women’s accessories, specifically handbags. These are outsourced through a licensing agreement the company initiated with a manufacturer in Asia. In order to preserve intellectual property and branding rights in the United States, this manufacturer exclusively has the right to Felicia & Fred’s women’s logo purses. As previously mentioned, the company’s inventory investment has grown, but to date it has not required additional storage space in terms of increases in total plant and property since the company is renting warehouse space to accommodate the necessary real estate. However, the company anticipates that this will change if the demand for this product continues to be met with fervor among its customer base. Given these considerations and the results indicated in the company’s income statements and balance sheets for the prior year and current year, as well as the company’s cash flow statement for the current year, answer the following questions and address specific qualitative elements as requested. I. Introduction/Abstract : Discuss briefly the difference between strategic and tactical decision making. A. Is the decision to enter the handbag distribution business strategic or tactical? B. What indications of financial performance must a company consider in evaluating whether an investment has successfully increased shareholder wealth? II. Financial Trend Analysis : Directly analyze the firm’s financial statements as presented in the Exhibits. A. Calculate liquidity ratios of the firm for the prior year and current year: current ratio, inventory turnover, and the accounts receivable turnover (for the denominator of the turnover ratios, use the year presented). Show your calculations and interpret the trend. What conclusions do you draw from this analysis? B. Calculate the following solvency ratios of the firm for the prior year and current year: debt to equity and times interest earned. Show your calculations and interpret the trend. What conclusions do you draw from this analysis? C. Calculate the following profitability ratios of the firm for the prior year and current year: gross profit margin, net profit margin, return on assets, and return on equity (for the denominator of the return ratios, use the year presented). Show your calculations and interpret the trend. What conclusions do you draw from this analysis? III. Integrate Prior Financial Analysis A. Consider the prior analysis Felicia & Fred completed for the Czech crystal bracelet product line. Given the prior analysis and the profitability trend of the company, did the inclusion of this product line as compared to the prior year results enhance gross margin for the company? Why or why not? Show calculations and interpret the results. B. Assume that the only change affecting the company’s product line sales in the current year was the inclusion of the handbag product line. Given the prior analysis and the current year profitabi…



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