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F11 $ e A B C D E 1 Frank's Back to Main 2 3 BALANCE SHEETS 4 5 December 31, 6 2014 7 Assets (expand the list to include all assets) 8 Current...
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Frank is going to pursue additional financing from the local bank. The bank will require some insight into how Frank's business will be successful and sustainable.

Prepare DRAFT estimated financial statements for the bank to consider.

he financial statements are going to be basic and will build on your fundamental knowledge from the first three chapters of the book. You will provide

  1. A basic income statement showing your expected sales and expenses (
  2. A partial balance sheet that will list the types of assets you need (. You should include the following items [cart, hot dogs, buns, mustard, ketchup] and add up to 5 more of your own choosing.

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A B C D E
1 Frank's Back to Main
2
3 BALANCE SHEETS
4
5
December 31,
6 2014
7 Assets (expand the list to include all assets)
8 Current assets:
9 Cash and cash equivalents $ 10,610
10 Accounts receivable 13,643
11 inventories 1,351 I ll
12 Other 3,514
13 Total current assets 72,513
Property and equipment, net of accumulated depreciation
14 of _ 3,010
15 Total assets $ 112,243 15 17 Liabilities and stockholders' equity {Nat needed for Part 1)
18 Current liabilities: 19 Accounts payable 20 Accrued expenses 21 Other 22 Total current liabilities 23 Long-term debt 24 Total liabilities 25 Commitments and contingencies 25 Stockholders' equity: 27 Money from Mom 81 Dad 23 Total stockholders' equity 29 Total liabilities and stockholders' equity
30 31 32 33
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- A E D F G H
1 Frank's Back to Main
2
3 INCOME STATEMENTS
4 I
5 Three Months Ended Six Months Ended
5 December 31, December 31,
7 2014 2014
8 Revenue $ 20,835 33,257
9 Operating expenses:
10 Cost of revenue 5,638 9,415
11 Sales and marketing 3,762 6,662
12 General and administrative 1,120 2,283
13 Total operating expenses 12,891 23,060
14 Net income $ 6,624 12,362
15
16
17
18 19 an
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Frank's Hot Cog Cart Financials
Justification:
Current Financial Statements (use the links below to access the templates)
Income Statement
Balance Sheet

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