Income Statement for the year ended 12/31/2011 |
|
|
Amount in Dollars |
Sales |
2,000,000.00 |
Cost of Goods Sold |
1,500,000.00 |
Gross Profit |
500,000.00 |
Selling and Administrative Expenses |
270,000.00 |
Depreciation Expense |
50,000.00 |
Operating Profit (EBIT) |
180,000.00 |
Interest Expense |
20,000.00 |
Earnings Before Taxes |
160,000.00 |
Taxes |
49,500.00 |
Net Income |
110,500.00 |
Notes: |
|
Dividends Paid to Preferred Stockholders |
10,500.00 |
Cash Dividend to Common Stockholders |
50,000.00 |
Comparative Balance Sheet for the Years 2009 and 2010 |
||||
|
12/31/2009 |
12/31/2010 |
||
Assets |
|
Amount in Dollars |
||
|
Current Assets: |
|
|
|
|
Cash |
30,000.00 |
40,000.00 |
|
Marketable Securities |
10,000.00 |
10,000.00 |
||
Accounts Receivable |
170,000.00 |
200,000.00 |
||
Inventory |
160,000.00 |
180,000.00 |
||
Prepaid Expenses |
30,000.00 |
20,000.00 |
||
|
400,000.00 |
450,000.00 |
||
Long Term Investments |
20,000.00 |
50,000.00 |
||
Plant and Equipment |
1,000,000.00 |
1,100,000.00 |
||
Less Accumulated Depreciation |
550,000.00 |
600,000.00 |
||
Net Plant and Equipment |
|
450,000.00 |
500,000.00 |
|
Total Assets |
870,000.00 |
1,000,000.00 |
||
Liabilities and Stockholders' Equity |
|
|
||
|
Current Liabilities |
|
|
|
|
Accounts Payable |
45,000.00 |
80,000.00 |
|
Notes Payable |
100,000.00 |
100,000.00 |
||
Accrued Expenses |
35,000.00 |
30,000.00 |
||
|
180,000.00 |
210,000.00 |
||
Long Term Liabilities |
|
|
||
|
Bonds Payable, 2020 |
40,000.00 |
90,000.00 |
|
|
|
|
||
Total Liabilities |
220,000.00 |
300,000.00 |
||
Stockholders' Equity |
|
|
||
|
Preferred Stock |
50,000.00 |
50,000.00 |
|
Common Stock |
100,000.00 |
100,000.00 |
||
Capital Paid in Excess of Par |
250,000.00 |
250,000.00 |
||
Retained Earnings |
250,000.00 |
300,000.00 |
||
Total Stockholders' Equity |
650,000.00 |
700,000.00 |
||
Total Liabilities and Stockholders' Equity |
870,000.00 |
1,000,000.00 |
. Cash flow under indirect method
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