Professional Documents
Culture Documents
Unaudited
Audited
Audited
12/31/X7
12/31/X6
12/31/X5
Cash in bank-general
4,000 $
12,000 $
53,000
Cash in bank-payroll
4,000 $
4,000 $
8,000
Petty Cash
500 $
500 $
500
Notes receivable-current
8,000 $
6,000 $
10,000
Accounts-receivable-trade
300,000 $
150,000 $
220,000
(12,000) $
(12,000) $
(15,000)
Interes receivable
600 $
400 $
500
Investments-current
7,000 $
2,000 $
6,000
270,000 $
80,000 $
100,000
Goods in process
4,500 $
12,000 $
30,000
300,000 $
180,000 $
266,000
Prepaid expenses-current
8,000 $
5,900 $
7,800
Plant assests-net
1,620,000 $
1,210,000 $
1,200,000
Intangible assests-net
350,000 $
115,000 $
120,000
Other assets
7,000 $
4,000 $
6,000
Total assets
2,871,600 $
1,769,800 $
2,012,800
Notes payable-trade
2,000 $
7,000 $
3,000
Accounts payable-trade
199,086 $
113,586 $
120,000
Taxes payable
8,000 $
6,000 $
20,000
Accured liablities
5,800 $
6,500 $
7,800
200,000 $
200,000 $
147,000
Notes payable-10%-current
100,000
900,000
400,000 $
520,000 $
720,000
300,000 $
300,000 $
300,000
120,000 $
120,000 $
120,000
Retained earnings
636,714 $
496,714 $
575,000
2,871,600 $
1,769,800 $
2,012,800
Audited
Audited
12/31/X7
12/31/X6
12/31/X5
Sales
1,800,000 $
1,300,000 $
2,860,000
800,000 $
620,000 $
1,700,000
Gross profit
1,000,000 $
680,000 $
1,160,000
Operating Exepenses
600,000 $
488,954 $
520,000
400,000 $
191,046 $
640,000
Income taxes
180,000 $
154,332 $
250,000
Net Income
220,000 $
36,714 $
390,000
Retained earnings-BOY
496,714 $
575,000 $
300,000
Total
716,714 $
611,714 $
690,000
Dividends
80,000 $
115,000 $
115,000
Retained earnings-EOY
636,714 $
496,714 $
575,000
Inventory Turnover
3.00
10.00
Profit Margin
5.00%
50.00%
2:1
INDUSTRY
Inventory Turnover
3.00
10.00
Profit Margin
5.00%
50.00%
2 : 1
Unaudited
Audited
12/31/X7
12/31/X6
Cash in bank-general
4,000
0.13% $
12,000
0.67%
Cash in bank-payroll
4,000
0.13% $
4,000
0.22%
Petty Cash
500
0.01% $
500
0.02%
Notes receivable-current
8,000
0.27% $
6,000
0.34%
Accounts-receivable-trade
300,000
10.44% $
150,000
8.47%
(12,000)
0.41% $
(12,000)
0.67%
Interes receivable
600
0.02% $
400
0.02%
Investments-current
7,000
0.24% $
2,000
0.11%
270,000
9.40% $
80,000
0.04%
Goods in process
4,500
0.15% $
12,000
0.67%
$
$
$
$
$
$
300,000
8,000
1,620,000
350,000
7,000
2,871,600
$
$
$
$
$
$
180,000
5,900
1,210,000
115,000
4,000
1,769,800
10.17%
0.33%
68.36%
6.49%
0.22%
100%
Notes payable-trade
Accounts payable-trade
$
$
2,000
199,086
0.06% $
6.93% $
7,000
113,586
0.39%
6.41%
10.44%
0.27%
56.41%
12.19%
0.24%
100%
Taxes payable
Accured liablities
Mortage note payable-current
Notes payable-10%-current
Notes payable-10%-due 19X9
Mortage note payable-8%
Common stock-no par
Additional paid in capital
Retained earnings
$
$
$
$
$
$
$
$
$
8,000
5,800
200,000
100,000
900,000
400,000
300,000
120,000
636,714
2,871,600
0.27%
0.20%
6.96%
3.48%
31.34%
13.92%
10.44%
4.17%
22.17%
$
$
$
6,000
6,500
200,000
0.33%
0.36%
11.30%
$
$
$
$
520,000
300,000
120,000
496,714
29.38%
16.95%
6.78%
28.06%
100% $
1,769,800
100%
Audited
12/31/X5
$
53,000
2.63%
8,000
0.39%
500
0.02%
10,000
0.49%
220,000
10.93%
(15,000)
0.74%
500
0.02%
6,000
0.29%
100,000
4.96%
30,000
1.49%
$
$
$
$
$
$
266,000
7,800
1,200,000
120,000
6,000
2,012,800
13.21%
0.38%
59.61%
5.96%
0.29%
100%
$
$
3,000
120,000
0.14%
5.96%
$
$
$
20,000
7,800
147,000
0.99%
0.38%
7.30%
$
$
$
$
720,000
300,000
120,000
575,000
35.77%
14.90%
5.96%
28.56%
2,012,800
100%
12/31/X7
Audited
12/31/X6
Sales
1,800,000
100% $
1,300,000
100%
800,000
44.00% $
620,000
47.69%
Gross profit
1,000,000
55.55% $
680,000
57.30%
Operating Exepenses
600,000
33.33% $
488,954
37.61%
400,000
22.22% $
191,046
14.69%
Income taxes
180,000
10.00% $
154,332
11.87%
Net Income
220,000
12.22% $
36,714
2.82%
Retained earnings-BOY
496,714
27.55% $
575,000
44.23%
Total
716,714
39.81% $
611,714
47.05%
Dividends
80,000
4.44% $
115,000
8.84%
Retained earnings-EOY
636,714
35.37% $
496,714
38.20%
Audited
12/31/X5
$
2,860,000
100%
1,700,000
59.44%
1,160,000
40.55%
520,000
18.18%
640,000
22.37%
250,000
8.74%
390,000
13.63%
300,000
10.48%
690,000
24.12%
115,000
4.02%
575,000
20.10%