Financial Statements for Joe’s Gadgets (CH2)

Dr. Kevin Bracker, Dr. Fang Lin and Jennifer Pursley

Income Statement

2016 2017
Sales 15,000,000 20,000,000
COGS 6,000,000 11,000,000
S&A Expenses 3,000,000 3,500,000
Depreciation 2,000,000 2,500,000
EBIT (Operating Income) 4,000,000 3,000,000
Taxes (30%) 900,000 450,000
Net Income 2,100,000 1,050,000
Number of Shares 2,000,000 2,000,000
EPS $1.05 $0.525
Dividends per Share $0.50 $0.50
Stock Price $25.00 $17.50

Balance Sheet

2016 2017
Cash 3,000,000 3.,050,000
A/R 2,000,000 4,000,000
Inv. 2,000,000 4,000,000
Cur. Assets 7,000,000 11,050,000
Net Prop, Plant & Equip 10,000,000 11,000,000
Total Assets 17,000,000 22,050,000
A/P 2,500,000 3,500,000
Accruals 1,500,000 2,000,000
Notes Payable 500,000 1,500,000
Cur. Liabilities 4,500,000 7,000,000
Long-Term Debt 5,500,000 8,000,000
Total Liabilities 10,000,000 15,000,000
Common Stock 1,000,000 1,000,000
Retained Earnings 6,000,000 6,050,000
Owners Equity 7,000,000 7,050,000
Tot. Liab. & O.E. 17,000,000 22,050,000

 

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Financial Statements for Joe's Gadgets (CH2) by Dr. Kevin Bracker, Dr. Fang Lin and Jennifer Pursley is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License, except where otherwise noted.

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