Essay Available:
page:
1 pages/≈275 words
Sources:
0
Style:
APA
Subject:
Accounting, Finance, SPSS
Type:
Coursework
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 5.62
Topic:
Week Three Homework Financial Statements Coursework
Coursework Instructions:
A. Create the Income Statements for 2007 and 2008 (including dividends paid and retained earnings).
B. Create the Balance Sheets for 2007 & 2008.
C. Create the statement of Cash Flows for 2008.
D. What is the CFFA for 2008?
Coursework Sample Content Preview:
Week Three Homework Financial Statements
Name
Institution
Date
A. Create the Income Statements for 2007 and 2008 (including dividends paid and retained earnings).
B. Create the Balance Sheets for 2007 & 2008.
Income Statement | |||
FY 2007,2008 | |||
2007 | 2008 | ||
Sales | $2,870 | $3,080 | |
Less Cost of Goods Sold COGS | 987 | 1121 | |
Gross Profit | $1,883 | $1,959 | |
Less Operating expenses | |||
Depreciation | 413 | 413 | |
Other expenses | 238 | 196 | |
Total Operating Expenses | 651 | 609 | |
Operating income | $1,232 | $1,350 | |
Less interest expense | 192 | 221 | |
Earnings before taxes | $1,040 | $1,129 | |
Less income taxes | 353.6 | 383.86 | |
Net income | $686.40 | $745.14 | |
Less dividends | $356.93 | $387.47 | |
Retained earnings | $329.47 | $357.67 |
Balance Sheet | ||
2007 | 2008 | |
Current Assets | ||
Cash | $1,505 | $1,589 |
Account Receivable | 1992 | 2244 |
Inventory | 3542 | 3640 |
Total Current assets | $7,039 | $7,473 |
Fixed (Long-Term Assets) | ||
Net fixed assets | 12,621 | 12,922 |
Less dep. | ||
Total Assets | $19,660 | $20,395 |
Liabilities and Owner's Equity | ||
Current liabilities | ||
Account payable | $1,581 | $1,533 |
Short-term notes payable | ... Updated on