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