Chp3 Finance
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Date Submitted: 02/22/2011 10:23 AM
CHAPTER 3
BA II Plus 2nd .
9 Enter
Financial Statements, Cash Flow, and Taxes
Balance sheet
Income statement
Accounting income vs. cash flow
MVA and EVA
Federal tax system
The Annual Report
Balance sheet – provides a snapshot of a firm’s financial position at one point in time.
Income statement – summarizes a firm’s revenues and expenses over a given period of time.
Statement of retained earnings – shows how much of the firm’s earnings were retained, rather than paid out as dividends.
Statement of cash flows – reports the impact of a firm’s activities on cash flows over a given period of time.
Balance Sheet:
Assets
2010 2009
Cash 7,282 57,600
Accounts Receivable 632,160 351,200
Inventories 1,287,360 715,200
Total Current Assets 1,926,802 1,124,000
Gross Fixed Assets 1,202,360 491,000
Less: Depreciation 263,160 146,200
Net Fixed Assets 939,790 344,800
Total Assets 2,866,592 1,468,800
Liabilities and Equity
2010 2009
Accts payable 544,160 145,600
Notes payable 636,808 200,000
Accruals 489,600 136,000
Total Current Liabilities 1,650,568 481,600
Long-term debt 723,432 323,432
Common stock 460,000 460,000
Retained earnings 32,592 203,768
Total Equity 492,592 663,768
Total L & E 2,866,592 1,468,800
Income statement 2010 2009
Sales 6,034,000 3,432,000
COGS 5,528,000 2,864,000
Other expenses 519,988 358,672
EBITDA (13,988) 209,328
Depr. & Amort. 116,960 18,900
EBIT (130.948) 190,428
Interest Exp....
