Income Statements: Sales 2013: $36,149 2014: $38,063 Cost of Goods Sold 2013: $2
ID: 2755920 • Letter: I
Question
Income Statements:
Sales 2013: $36,149 2014: $38,063
Cost of Goods Sold 2013: $28,821 2014: $29,624
Gross Profits 2013: $7,328 2014: $8,439
Selling, General and Administrative Expenses 2013: $2,123 2014: $1,983
Operating Income 2013: $5,205 2014: $6,456
Interest Expense 2013: $466 2014: $409
Other Income 2013: $919 2014: $580
Earnings Before Taxes 2013: $5,658 2014: $6,627
Income Taxes 2013: $2,049 2014: $2,314
Net Income (Loss) 2013: $3,609 2014: $4,313
Common Shares Outstanding 2013: 1,875 2014: 1,948
Earnings Per Share 2013: $1.92 2014: $2.21
Balance Sheet:
Assets
Cash and Equivalents 2013: $3,417 2014: $2,722
Receivables 2013: $4,854 2014: $5,784
Inventories 2013: $1,271 2014: $1,442
Other Current Assets 2013: $2,347 2014: $2,277
Total Current Assets 2013: $11,889 2014: $12,225
Gross Fixed Assets 2013: $32,475 2014: $32,875
Depreciation 2013: ($17,395) 2014: ($18,373)
Net Fixed Assets 2013: $15,080 2014: $14,502
Other Assets 2013: $36,148 2014: $42,479
TOTAL ASSETS 2013: $63,117 2014: $69,206
Liabilities
Accounts Payable 2013: $5,616 2014: $6,109
ST Notes Payable 2013: $1,206 2014: $2,350
Other ST Liabilities 2013: $2,112 2014: $2,541
Total Current Liabilities 2013: $8,934 2014: 11,000
Long Term Debt 2013: $11,495 2014: $10,130
Deferred Taxes 2013: $1,819 2014: $2,630
Other Liabilities 2013: $5,444 2014: $6,104
TOTAL LIABILITIES 2013: $27,692 2014: $29,864
Equity
Common Stock 2013: $4,345 2014: $5,073
Retained Earnings 2013: $31,080 2014: $34,269
Total Equity 2013: $35,425 2014: $39,342
TOTAL LIABILITIES
AND OWNERS EQUITY 2013: $63,117 2014: $69,206
Explanation / Answer
Cash Flow Statement For the Year ended 2014 Cash flow from Operating Activities: $ Net Income After Tax 4313 Interest Charges 409 Depreciation 978 Other Income -580 Adjustment of Working Capital: Increase in Receivables -930 Increase in Inventories -171 Decrease in other current Assets 70 Increase in Accounts Payable 493 Cash flow from Operating Activities A 4582 Cash flow from Investing Activities: Other Income 580 Investment in Fixed Assets -400 Investment in Other Assets -6331 Cash flow from Investing Activities B -6151 Cash flow from Financing Activities: Interst Charges paid -409 Redemption of Long term Debt -1365 Increase in other Liabilities 660 Issue of common stock 728 Dividend paid -1124 Increase in Deferred Tax Liabilities 811 Increase in ST notes payable 1144 Increase in other St note payable 429 Cash flow from Financing Activities C 874 Cash flow for the year D=A+B+C -695 Opening Cash and Cash Equivelent E 3417 Closing Cash and Cash Equivelent D+E 2722