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quick lunch.docx - `Hanah P Feria MBA1 Case Study Quick...

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`Hanah P. Feria MBA1 Case Study: Quick Lunch 1. Prepare balance sheet as of December 31, 2002, and an income statement and cash flow statement for the four-month period ending December 31, 2002. Explain briefly your treatment of the coupon books and of anything else you believe needs comment. Answer: The Quick Lunch Income Statement for the Four Months ended December 31, 2002 Cash Sales 29,315.00 Coupon Sales 2,475.00 Total Sales 31,790.00 Expenses Cost of Sales (Food) 14,415.00 Rent 4,975.00 Depreciation of Equipment 480.00 Amortization of Leasehold 1,900.00 License Fee 75.00 Other Expenses 90.00 Total Expense 21,935.00 Net Income 9,855.00
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The Quick Lunch Statement of Cash Flows for the Four Months ended December 31, 2002 Cash Flow from Operating Activities Net Income 9,855.00 Non-cash Items included in net income Depreciation 480.00 Amortization of Leasehold 1,900.00 Increase in Inventory (750.00) Increase in Prepaid License (150.00) Increase in Accounts Payable 2,405.00 Increase in Coupons Payable 1,375.00 Net Cash from Operating Activities 15,115.00 Cash Flows from Investing Activities Acquisition of Equipment (4,600.00)
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