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Lecture_2_ - Lecture#2 The Balance Sheet The Income...

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2-1 Lecture#2 The Balance Sheet The Income Statement Financial Cash Flow Ratio Analysis
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2-2 The Balance Sheet and Income Statements An accountant’s snapshot of the firm’s accounting value at a specific point in time Income Statement measures financial performance over a specific period of time
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2-3 U.S. Composite Corporation Balance Sheet 2010 2009 2010 2009 Current assets: Current Liabilities: Cash and equivalents $140 $107 Accounts payable $213 $197 Accounts receivable 294 270 Notes payable 50 53 Inventories 269 280 Accrued expenses 223 205 Other 58 50 Total current liabilities $486 $455 Total current assets $761 $707 Long-term liabilities: Fixed assets: Deferred taxes $117 $104 Property, plant, and equipment $1,423 $1,274 Long-term debt 471 458 Less accumulated depreciation (550) (460) Total long-term liabilities $588 $562 Net property, plant, and equipment 873 814 Intangible assets and other 245 221 Stockholder's equity: Total fixed assets $1,118 $1,035 Preferred stock $39 $39 Common stock ($1 par value) 55 32 Capital surplus 347 327 Accumulated retained earnings 390 347 Less treasury stock (26) (20) Total equity $805 $725 Total assets $1,879 $1,742 Total liabilities and stockholder's equity $1,879 $1,742
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2-4 U.S.C.C. Income Statement Total operating revenues Cost of goods sold Selling, general, and administrative expenses Depreciation Operating income Other income Earnings before interest and taxes Interest expense Pretax income Taxes Current: $71 Deferred: $13 Net income Addition to retained earnings $43 Dividends: $43 $2,262 1,655 327 90 $190 29 $219 49 $170 84 $86
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2-5 U.S.C.C. Balance Sheet 2010 2009 2010 2009 Current assets: Current Liabilities: Cash and equivalents $140 $107 Accounts payable $213 $197 Accounts receivable 294 270 Notes payable 50 53 Inventories 269 280 Accrued expenses 223 205 Other 58 50 Total current liabilities $486 $455 Total current assets $707 Long-term liabilities:
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