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5. Total assets are $ 499,890.96
Total Capital is $319,102.64
Net income or loss for March ($3,037.39)
Current month’s gross profit $64,839.74
Current month’s total expenses $67,877.13 The balance sheet shows liabilities, assets and stockholders’ equity. The assets would be
something that could be sold for money. The capital would be what is left after paying off all
liabilities and sold all assets. The income statement shows profit and loss for the month along
with how much the company made and paid out in total expenses. The information is useful to
people who read it because they would look at this information when investing to see if they
would make a profit.
5. Current month’s net cash provided by operations $ 34,936.57
The year to date’s net cash provided by operations $ 4,717.37
Cash balance at end of period for the current month $ 32,060.92
Beginning retained earnings balance $ 189,037.60
Ending retained earnings balance is $ 214,102.64 The cash flow statement shows all the income and outgoing of cash. The Retained Earnings
statement gives an overview of the profit and loss of the company for a specific point in time.
This information is useful to people reading it because they will have any idea of the financial
state of the company. This will show where all the money is coming and going from in the
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This note was uploaded on 06/19/2011 for the course FIN 200 200 taught by Professor Markempasis during the Spring '09 term at University of Phoenix.
- Spring '09