week 3 team paper - Landrys Financial 1 Landrys Restaurant...

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Landry’s Financial 1 Landry’s Restaurant Financial Statements Criselda Treviño, Robert Miley, Tou Vue University of Phoenix ACC/300 – Accounting Principles Arnold Gilbo September 9, 2011
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Landry’s Restaurant Financial Statements Landry’s Restaurant celebrated their 10 year anniversary in 2003 ending a decade with the most successful financial year yet. The following paper by Team A will analyze Landry’s Annual Report. Specifically, we will dig deeper into the components of Landry’s financial statements; the balance sheet, income statement, statement of retained earnings, and statement of cash flow. Together these financial statements present a snapshot of Landry’s financial position at the end of the year. Each statement has a specific purpose and each of which has helped analysts measure Landry’s financial performance. Landry’s Restaurant produced a net income of $49,501,054 for the year end of 2003. This is a 4,379,439 increase from the previous year end in 2002. The net income is located in Landry's income statement. The purpose of the income statement is to report what the business has earned from operating activities over a period of time. The income statement shows whether a business made a profit by subtracting its expenses from its earned revenue: Revenue – Expenses = Net income. Investors and creditors look at income statements to predict the future success of the company. The income statement shows the amount of revenues, operating costs and expenses, operating income, income before taxes, provision for income taxes, and finally the net income. Landry’s income statement also shows earnings per share information. Earnings per share are an indicator of Landry’s profitability. “Landry’s bought back more shares than it issued, which combined with an increase in net income to bump EPS from $1.60 in 2002 to $1.66 in 2003” (Libby, p. 581, para 1). The net income is also used in the statement of retained earnings, and shows whether the company’s operation improved or harmed the financial position of the company during the year. Total assets for the year 2003 are approximately $1,102,758 and illustrates that a company is only as strong as its current assets. The total amount can be located on the balance
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sheet of the financial statement which offers available information to any investor, manager, employee and possible buyer. This offers fiscal data breaking down empirical rate on assets, liability and stockholder equity. On the balance sheet assets are comprised of liquid and illiquid factors that cannot be swap for cash from short-term perspective. The total for this asset was
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This note was uploaded on 10/12/2011 for the course BUSINESS 317 taught by Professor Jackhandy during the Spring '11 term at University of Phoenix.

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week 3 team paper - Landrys Financial 1 Landrys Restaurant...

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