Business Finance - The McGee Cake Company In early 2003,...

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The McGee Cake Company In early 2003, Doc and Lyn McGee formed the McGee Cake Company. The company produced a full line of cakes, and its specialities included chess cake, lemon pound cake, and double-iced, double-chocolate cake. The couple formed the company as an outside interest, and both continued to work at their current jobs. Doc did all the baking, and Lyn handled the marketing and distribution. With good product quality and a sound marketing plan, the company grew rapidly. In early 2008, the company was featured in a widely distributed entrepreneurial magazine. Later that year, the company was featured in Gourmet Desserts , a leading specialty food magazine. After the article appeared in Gourmet Desserts , sales exploded, and the company began receiving orders from all over the world. Because of the increased sales, Doc left his other job, followed shortly by Lyn. The company hired additional workers to meet demand. Unfortunately, the fast growth experienced by the company led to cash flow and capacity problems. The company is
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This note was uploaded on 04/05/2012 for the course FINANCE 326 taught by Professor Walton during the Spring '12 term at Tulsa Community College.

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Business Finance - The McGee Cake Company In early 2003,...

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