Lecture_2_ - 2-1Lecture#2The Balance SheetThe Income...

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Unformatted text preview: 2-1Lecture#2The Balance SheetThe Income StatementFinancial Cash FlowRatio Analysis2-2The Balance Sheet and Income StatementsAn accountants snapshot of the firms accounting value at a specific point in timeIncome Statement measures financial performance over a specific period of time2-3U.S. Composite Corporation Balance Sheet2010200920102009Current assets:Current Liabilities:Cash and equivalents$140$107Accounts payable$213$197Accounts receivable294270Notes payable5053Inventories269280Accrued expenses223205Other5850Total current liabilities$486$455Total current assets$761$707Long-term liabilities:Fixed assets:Deferred taxes$117$104Property, plant, and equipment$1,423$1,274Long-term debt471458Less accumulated depreciation(550)(460)Total long-term liabilities$588$562Net property, plant, and equipment873814Intangible assets and other245221Stockholder's equity:Total fixed assets$1,118$1,035Preferred stock$39$39Common stock ($1 par value)5532Capital surplus347327Accumulated retained earnings390347Less treasury stock(26)(20)Total equity$805$725Total assets$1,879$1,742Total liabilities and stockholder's equity $1,879$1,7422-4U.S.C.C. Income Statement Total operating revenuesCost of goods soldSelling, general, and administrative expensesDepreciationOperating incomeOther incomeEarnings before interest and taxesInterest expensePretax incomeTaxesCurrent: $71Deferred: $13Net incomeAddition to retained earnings $43Dividends: $43$2,2621,65532790$19029$21949$17084$862-5U.S.C.C. Balance Sheet2010200920102009Current assets:Current Liabilities:Cash and equivalents$140$107Accounts payable$213$197Accounts receivable294270Notes payable5053Inventories269280Accrued expenses223205Other5850Total current liabilities$486$455Total current assets$707Long-term liabilities:Fixed assets:Deferred taxes$117$104Property, plant, and equipment$1,423$1,274Long-term debt...
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This note was uploaded on 07/04/2011 for the course FINA 463 taught by Professor Tsyplakov during the Fall '10 term at South Carolina.

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Lecture_2_ - 2-1Lecture#2The Balance SheetThe Income...

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