Preliminary peyton approved income statement for year

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Preliminary Peyton Approved Income Statement For Year Ended 12/31/2017 Bakery Sales $ 327,322.55 Merchandise Sales 1,205.64 Total Revenues 328,528.19 Cost of Goods Sold - Baked 105,834.29 Cost of Goods Sold - Merchandise 859.77 Total Cost of Goods Sold 106,694.06 Gross Profit 221,834.13 Operating Expenses: Rent Expense 24,549.19 Wages Expense 10,670.72 Misc. Supplies Expense 3,000.46 Business License Expense 2,045.77 Misc. Expense 1,363.84 Depreciation Expense 677.86 Insurance Expense 1,091.08 Advertising Expense 1,549.74 Interest Expense 818.31 Telephone Expense 490.98 Total Operating Expenses: 46,257.95 Net Income 175,576.18
Peyton Approved Income Statement For Year Ended 12/31/2017
Instructions Milestone 1
Preliminary Peyton Approved Statement of Retained Earnings For Year Ended 12/31/2017 Beginning Balance: $ 50,144.84 plus Net Income 175,576.18 less Dividends: 105,000.00 Ending Balance $ 120,721.02
Peyton Approved Statement of Retained Earnings For Year Ended 12/31/2017 Ins Mi
structions ilestone 1
Preliminary Peyton Approved Statement of cash Flow For Year Ended 12/31/2017 Net Income $ 175,576.18 Depreciation Expense 677.86 176,254.04 Increase in Accounts Receivable (25,886.91) Increase in Baking Supplies (8,187.84) Increase in Merchandise inventory (443.10) Increase in Prepaid Rent (449.55) Increase in Prepaid Insurance (1,004.55) Increase in Misc. Supplies (114.99) Increase in Accounts Payable 3,292.11 Increase in Wages Payable 1,850.48 Increase in Interest Payable 44.96 Operating Cash Flow Cash Flow from Investments Equipment Purchases (6,000.00) Cash Flow from Investments Cash Flow from Financing Repayment of Note Payable (10,000.00) Dividends Paid (105,000.00) Cash Flow from Financing Net Cash Flow Beginning Cash Ending Cash
145,354.65 (6,000.00) (115,000.00) 24,354.65 43,165.39 67,520.04
Peyton Approved Statement of cash Flow For Year Ended 12/31/2017
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Instructions Milestone 1
Peyton Approved Balance Sheet As of December 31, 2015 Assets Liabilities Current Assets: Current Liabilities: Cash 31507.58 Accounts Payable Accounts Receivable 35118.97 Wages Payable Baking Supplies 8042.23 Interest Payable Merchandise Inventory 580.27 Prepaid Rent 1215.32 Prepaid Insurance 810.21 Misc. Supplies 40.51 Total Current Assets 77,315.09 Total Current Liabil Long Term Liabilitie Long Term/Fixed Assets: Notes Payable Baking Equipment 6000 Total Long Term Lia Accumulated Depreci -677.79 Net Fixed assets 5,322.21 Total Liabilities: Common Stock Retained Earnings Total Equity Total Assets: 82,637.30 Total Liabilities & E
s and Owners' Equity 15086.84 1118.83 121.53 lities 16,327.20 es: 10,000.00 abilities: 10,000.00 26,327.20 20,000.00 36,310.10 56,310.10 Equity 82,637.30
Peyton Approved Balance Sheet As of December 31, 201 Assets Current Assets: Cash 43,165.39 Accounts Receivable 42,633.00 Baking Supplies 7,318.86 Merchandise Inventory 794.97 Prepaid Rent 1,665.00 Prepaid Insurance 1,110.00 Misc. Supplies 55.50 Total Current Assets 96,742.72 Long Term/Fixed Assets: Baking Equipment 8,000.00 Accumulated Depreciation -928.58 Net Fixed assets 7,071.42 Total Assets: 103,814.14
16 Liabilities and Owners' Equity Current Liabilities: Accounts Payable 16,970.00 Wages Payable 1,532.80 Interest Payable 166.50 Total Current Liabilities 18,669.30 Long Term Liabilities: Notes Payable 15,000.00 Total Long Term Liabilities: 15,000.00 Total Liabilities: 33,669.30

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