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Unformatted text preview: Initech Corporation Financial Report December 31, 2007 2006 Advertising Expense 6,656 5,943 Salary and Wage Expense ? 44,628 Buildings and Equipment 41,419 ? Cost of Goods Sold 189,093 154,994 Long-Term Liabilities 32,524 25,868 Revenue 246,496 220,086 Accounts Payable ? 3,692 Capital 87,681 ? Cash 6,232 5,419 Selling Expense 732 711 Inventory 4,723 4,294 Administrative Expense 891 594 Accounts Receivable 2,129 2,241 Land 70,342 70,342 Withdrawals 1,600 1,200 A. Prepare a corrected income statement, statement of owners equity and balance for the years available. B. If you were a prospective creditor, briefly describe how you would react to the companys financial information? C. If you were a prospective investor, briefly describe how you would react to the companys financial information? D. Given the companys results, briefly describe one recommendation that you would make to improve its future financial situation?...
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This note was uploaded on 04/12/2009 for the course ACC 310F taught by Professor Verduzco during the Fall '07 term at University of Texas at Austin.
- Fall '07