I posted two Files: one is the annual report instructions needed to follow and will be graded and a second file “Wells Fargo” to use the information to create the annual report for Wells Fargo.Annual Report: Dollar General Corp.
By Donato Paltep
45/50 Nice Report
General information:
Corporate office: 100 MISSION RIDGE, GOODLETTSVILLE TN 37072
Chief Executive Officer: Todd J. Vasos
Ending Fiscal Date: 31, January, 2020
Principal Product/Industry: Consumer Services
CPA firm of Audit: Ernst & Young LLP
Stock Price: $181.73
52 week High: $184.95
52 week low: $116.15
Brief Summary:
Dollar General was one of the growing Customer Service stores in the Nation. Net sales
increased 8.3% and 975 new stores were opened in the last year. The company planned to open
another 1000 new stores in 2020 and used its low cost operating measures for high-returns.
Those plans did fall back because of the pandemic that has ravaged the nation is still prevalent.
Quarantine has temporarily closed many of the company’s stores.
Income Statement: 2020, 2019, 2018
Gross profit:
Year Gross Profit
2020 $8,489,061
2019 $7,803,870
2018 $7,221,359
Operating Income:
Year Operating Income
2020 $2,302,304
2019 $2,116,306
2018 $2,007,818
Net Income:
Year Net Income
2020 $1,712,555
2019 $1,589,472
2018 $1,538,960
Analysis and explanation of income statement information base 2018
Gross Profit:
Year Gross Profit Amount Increase or
Decrease()
Percentage Change
2018 7,221,359 0 0%
2019 7,803,870 582511 8%
2020 8,489,061 1267702 17.6%
Operating Income:
Year Operating Income Amount Increase or
Decrease()
Percentage Change
2018 $2,007,818 0 0
2019 $2,116,306 108488 5.4%
2020 $2,302,304 294484 14.6%
Net Income:
Year Net Income in
Millions $
Amount Increase or
Decrease() in Millions
Percentage Change
2018 $1,538,960 0 0%
2019 $1,589,472 50512 3.2%
2020 $1,712,555 173595 11.3%
Common Size Income Statement
Income Statement Common Size Income Statement
2020 2019 2020 2019
Net Sales $27,753,973 $25,625,043 100% 100%
Cost of Goods
Sold
19,264.9 17,821.2 69.4% 69.5%
Gross Profit 8489.1 7,803.9 30.5% 30.4%
Sell and
Administrative
Expenses
6,186.8 5687.6 22.3% 22.2%
Operating Profit 2302.3 2116.3 8.3% 8.2%
Interest Expense 100.6 100.9 .36% .39%
Income before
Taxes
2201.7 2015.4 8% 7.9%
Income Tax 489.2 425.9 1.7% 1.7%
Net Income 1712.6 1589.5 6.2% 6.2%
Common Size balance Sheet
Balance sheet Common Size Balance Sheet
2020 2019 2020 2019
Total current assets $5,177,868 $4,663,020 22.7% 35.3%
Net property and
equipment
$8,796,183 $2,970,806 38.5% 22.5%
Operating lease asset $4,338,589 0 1.9% 0%
Goodwill $184,163 $4,338,589 0.8% 32.8%
Other intangible
assets, net
$1,200,006 $1,200,217 5.26% 9.1%
Other assets, net $34,079 $31,406 .15% .24%
Total assets $ 22,825,084 $ 13,204,038 100% 100%
Balance sheet Common Size Balance Sheet
Liabilities 2020 2019 2020 2019
Current
Liabilities
$4,543,560 $3,015,857 28.1% 44.4%
Long-term
obligations
$2,911,438 $2,862,740 18.1% 42.2%
Long-term
operating lease
liabilities
$7,819,683 0 48.5% 0%
Deferred income
taxes
$675,227 $609,687 4.2% 9%
Other liabilities $172,676 $298,361 1.07% 4.4%
Total Liabilities $16,122,584 $6,786,645 100% 100%
Balance sheet Common Size Balance Sheet
Stockholder’s Equity 2020 2019 2020 2019
Common Stock 220,444 227,072 3.3% 3.54%
Additional paid-in
capital
3,322,531 3,252,421 49.6% 50.7%
Retained earnings 3,162,660 2,941,107 47.2% 45.8%
Accumulated other
comprehensive loss
(3,135) (3,207) .04% 0.05%
Total Stockholder’s
Equity
6,702,500 6,417,393 100% 100%
Assets = Liabilities + Stockholder’s Equity
Year Total Asset Total Liability Total Shareholders’
Equity
2020 $ 22,825,084 $16,122,584 6,702,500
2019 $ 13,204,038 $6,786,645 6,417,393
Cash Flow Analysis
Current Ratio 2020 = current assets/current liabilities
Total Current asset = $5,177,868
Current Liabilities = $4,543,560
Current Ration 2020 = 1.14
Acid test ratio = (cash + short-term investments + current receivables)/current liabilities
Quick Asset = Cash + Short Term investment + current receivable
Cash = $240,320
Short term Investment = $0
Current Receivable = $76,537
= $316,857
Current Liabilities = $4,543,560
Acid test Ratio = $316,857 / $4,543,560
= 0.069
Asset turnover = net sales revenue/average total assets
Net Sales = $27,753,973
Average total Asset = ($5,177,868 + 4,663,020)2 = $4,920,444
Asset Turnover = $27,753,973 / $4,920,444
= 5.64
Debt to equity = total liabilities/total equity
total Liability = $16,122,584
Total Equity = $6,702,500
Debt-to-Equity = 2.41
Profit margin = net income/net sales revenue
Net income = $ 1,712,555
Net Sales Revenue= 8,489,061
= .20
Return on assets = net income/average total asset
Net income = $ 1,712,555
average total asset = 4,920,444
= .34
Return on common stockholder’s equity = (net income – preferred dividends/average common
stockholders’ equity)
Net income =$ 1,712,555
Preferred dividends = (327,568)
Average dividends = (327,568 + 306,523)/2 = 317045.5
= 4.36
Profitability and liquidity determination, investment and lending decisions, and
explanations
This project gave me an idea of how Dollar General has increased in the number of years with its
low cost high return style of business. It has less than wanted Quick assets but that is expected
with a grocery store, where most assets are inventory. There are not large margins, but still is
growing with a plan to add 1000 more stores this year.
Work Cited
Bahler, Kristen. “Here’s Why Dollar General Is Booming Amid the Retail Apocalypse.” Money,
9 Dec. 2019, money.com/dollar-general-sales-store-openings/.
Dollar General. 2020 Annual Report, 2020. Web. May 2020.
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