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Investment Analysis and Portfolio Management Case 2

Ada Lam is the founder and sole stockholder of AL Gifts, Co. Ltd., Ada is a recent divorcee and realizes that her finances may need to be revised now that her divorce has been settled. Her former husband, Kelvin, is the father of her two children and the major stockholder of GOOD Manufacturing, Co. Ltd., GOOD Manufacturing has been in business 15 years, is financially stable, and currently has a book value in excess of $380M.  Kelvin has agreed to pay for 50% of their children’s education.

 

Personal Information

Name

Age

Health

Occupation

Ada Lam

39

Good

President - AL Gifts, Co. Ltd.

Susan Lam

14

Excellent

Student

Candy Lam

9

Excellent

Student

Kelvin Lam

42

Excellent

President - GOOD Manufacturing, Inc.

 

Ada Lam

STATEMENT OF FINANCIAL POSITION

As at Aug 31, 2018

ASSETS



LIABILITIES







Cash/Cash equivalents

$ 100,000


Credit cards 1

$  260,000

NAV of AL Gifts, Co. Ltd.

576,000


Mortgage 2 

8,432,529

Residence (bought 5 yrs ago, 763 sq. ft 3-Bedroom apt)

13,800,000


Auto loan3

423,137

Auto (BMW 325is, bought 1/2 year ago)

530,000


TOTAL LIABILITIES

$ 9,115,666




NET WORTH

$ 5,890,334






TOTAL ASSETS

$15,006,000


TOTAL LIABILITIES

AND NET WORTH

$ 15,006,000

 

1 Variable rate, currently 35.71% APR.

2 25 years left with P-2.95% (2.05%)

3 2.5 years left with fixed flat rate at 2.15% for 3 years

Ada Lam

PROJECTED MONTHLY CASH FLOW STATEMENT

Current Monthly

 

CASH INFLOWS


Gross salary

$ 60,000

Child support

25,000

Total

$ 85,000



CASH OUTFLOWS


Savings and investments

$ 0

Mortgage payment (P+I)

35,948

Maintenance and repairs on the home

2,000

Textbook and miscellaneous (2 Kids)

600

Food and supplies

6,500

Utilities (Electricity, water, gas)

3,500

Transportation (gas, oil, repairs)

9,000

Car payment

14,105

Clothing

2,000

Travel and entertainment

3,500

Credit card payments

4,500

Total

$ 81,653



SURPLUS/(DEFICIT) CASH FLOW

$3,347

 

AL GIFTS, CO.LTD.

BALANCE SHEET

As at March 31, 2018

ASSETS1



LIABILITIES


Cash/Cash equivalents

$ 200,000


Accounts payable

$298,000

Accounts receivable

400,000


Loan2

500,000

Inventory

600,000


TOTAL LIABILITIES

$798,000

Furniture and fixtures, net of depreciation

130,000


STOCKHOLDER EQUITY

$576,000

Prepaid expenses & other

44,000




TOTAL ASSETS

$1,374,000


TOTAL LIABILITIES AND SHAREHOLDER EQUITY

$1,374,000

1 All assets are listed at fair market value (FMV)

2 $2,000 a month payable to Kelvin Lam at 4.8% interest, which is the going market rate on similar loans.

 

AL GIFTS, CO. LTD

PROJECTED MONTHLY INCOME STATEMENT

 

TOTAL SALES


$215,000

EXPENSES



Cost of goods sold

$ 75,250


Advertising and promotion

1,500


Depreciation

2,400


Interest on loan

2,000


Insurance - business

250


Rent (300 sq. ft.)

11,000


Salaries (1part time staff & herself)

68,500


Supplies and miscellaneous

3,500


Utilities

1,200

(165,600)

NET INCOME


49,400

 

Ms. Lam’s investment objective is to ensure financial security for herself, her business & her children. She plans to send her children to Australia for 5 years (last 2 year of high school and 3 years university) to receive western education.

 

Ms. Lam wants to pay off the $500,000 loan borrowed from Kelvin (her ex-husband) and be able to save enough funding (approx. $1.5M) to expand her business. She finally would like to retire when she turns 65 years old.

 


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