ch 03 - Financial Statements, Cash Flow, and Taxes Key...

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Unformatted text preview: Financial Statements, Cash Flow, and Taxes Key Financial Statements Balance Sheet Income Statement Statement of Stockholders Equity Statement of Cash Flows Free Cash Flow Federal Tax System Chapter 3 3-1 The Annual Report Balance sheet provides a snapshot of a firms financial position at one point in time. Income statement summarizes a firms revenues and expenses over a given period of time. Statement of stockholders equity shows how much of the firms earnings were retained, rather than paid out as dividends. Statement of cash flows reports the impact of a firms activities on cash flows over a given period of time. 3-2 Balance Sheet: Assets Cash A/R Inventories Total CA Gross FA Less: Dep. Net FA Total Assets 3-3 2008 7,282 632,160 1,287,360 1,926,802 1,202,950 263,160 939,790 2,866,592 2007 57,600 351,200 715,200 1,124,000 491,000 146,200 344,800 1,468,800 Balance Sheet: Liabilities and Equity Accts payable Notes payable Accruals Total CL Long-term debt Common stock Retained earnings Total Equity Total L & E 3-4 2008 524,160 636,808 489,600 1,650,568 723,432 460,000 32,592 492,592 2,866,592 2007 145,600 200,000 136,000 481,600 323,432 460,000 203,768 663,768 1,468,800 Income Statement 3-5 2008 2007 Sales $6,034,000 $3,432,000 COGS 5,528,000 2,864,000 Other expenses 519,988 358,672 Total oper.costs excl. deprec. & amort. $6,047,988 $3,222,672 Depreciation and amortization 116,960 18,900 EBIT ($ 130,948) $ 190,428 Interest expense 136,012 43,828 EBT ($ 266,960) $ 146,600 Taxes (106,784 ) 58,640 Net income ($ 160,176 ) $ 87,960 Other Data No. of shares EPS DPS Stock price Lease pmts 3-6 2008 100,000-$1.602 $0.11 $2.25 $40,000 2007 100,000 $0.88 $0.22 $8.50 $40,000 Statement of Stockholders Equity (2008)...
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ch 03 - Financial Statements, Cash Flow, and Taxes Key...

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