Prepare a cash flow statement based on the info provided on the income statement. GROSS REVENUES Beer
Fantastic news! We've Found the answer you've been seeking!
Question:
Prepare a cash flow statement based on the info provided on the income statement.
Transcribed Image Text:
GROSS REVENUES Beer Liquor Food Soda/Snacks Arcade Parties Whirlyball TOTAL GROSS REVENUES COST OF GOODS Beer Liquor Food Soda/Snacks TOTAL COST OF GOODS GROSS PROFIT PROJECTED INCOME STATEMENTS For The Period Ending: Year 1 $40,000 $20,000 $30,100 $10,300 $17,500 $11,200 $150,000 $279,100 $16,000 $5,000 $15,050 $3,090 $39,140 $239,960 Year 2 $48,000 $24,000 $36,120 $12,360 $21,000 $13,440 $180,000 $334,920 $19,200 $6,000 $18,060 $3,708 $46,968 $287,952 Year 3 $62,400 $31,200 $46,956 $16,068 $27,300 $17,472 $234,000 $435,396 $24,960 $7,800 $23,478 $4,820 $61,058 $374,338 GROSS PROFIT CASH PAID OUT Wages Payroll Taxes Insurance Water Test/Other License Music/Entertainment Office Supplies/Postage Legal/Accounting Building/Equipment Repair Janitorial Supplies Property Tax Cable Heat/Coal Electric Propane Telephone Security System Septic Service Snow Plowing Trash Depreciation Amortization Interest Expense Miscellaneous $239,960 $15,000 $2,250 $4,500 $250 $10,000 $250 $500 $2,000 $3,000 $2,000 $3,000 $400 $2,000 $6,000 $2,200 $300 $300 $300 $2,000 $700 $9,400 $200 $10,013 $2,791 $287,952 $15,750 $2,363 $4,725 $263 $10,500 $263 $525 $2,100 $3,150 $2,100 $3,150 $420 $2,100 $6,300 $2,310 $315 $315 $315 $2,100 $735 $9,318 $200 $9,757 $3,349 $374,338 $16,538 $2,481 $4,961 $276 $11,025 $276 $551 $2,205 $3,308 $2,205 $3,308 $441 $2,205 $6,615 $2,426 $331 $331 $331 $2,205 $772 $9,318 $200 $9,483 $4,354 TOTAL EXPENSES NET INCOME $79,354 $160,606 $82,422 $205,530 $86,142 $288,195 PERIOD ENDING: Current assets Cash and cash equivalents Short-term investments Net receivables Inventory Other current assets Total current assets Long-term assets Long-term investments Fixed assets Accumulated Depreciation Security Deposit Other assets Total assets Current liabilities Accounts payable Short-Term Debt/Current portion of long-term debt Other current liabilities Total current liabilities Long-term debt Other liabilities Total liabilities 12/31/2015 155,222 49,900 205,122 155,500 (31,100) 6,400 335,922 7,500 18,837 26,337 564,696 591,033 12/31/2016 12/31/2017 152,435 74,850 227,285 155,500 (62,200) 6,400 326,985 7,500 19,793 27,293 557,196 584,489 249,449 87,325 336,774 155,500 (93,300) 6,400 405,374 7,500 20,798 28,298 537,402 565,700 Owner's Equity Equity Investment Capital surplus Retained earnings Total equity Total liabilities & equity 75,000 1,500 76,500 667,533 331,611 75,000 2,300 77,300 661,789 334,804 75,000 3,100 78,100 643,800 238,426 GROSS REVENUES Beer Liquor Food Soda/Snacks Arcade Parties Whirlyball TOTAL GROSS REVENUES COST OF GOODS Beer Liquor Food Soda/Snacks TOTAL COST OF GOODS GROSS PROFIT PROJECTED INCOME STATEMENTS For The Period Ending: Year 1 $40,000 $20,000 $30,100 $10,300 $17,500 $11,200 $150,000 $279,100 $16,000 $5,000 $15,050 $3,090 $39,140 $239,960 Year 2 $48,000 $24,000 $36,120 $12,360 $21,000 $13,440 $180,000 $334,920 $19,200 $6,000 $18,060 $3,708 $46,968 $287,952 Year 3 $62,400 $31,200 $46,956 $16,068 $27,300 $17,472 $234,000 $435,396 $24,960 $7,800 $23,478 $4,820 $61,058 $374,338 GROSS PROFIT CASH PAID OUT Wages Payroll Taxes Insurance Water Test/Other License Music/Entertainment Office Supplies/Postage Legal/Accounting Building/Equipment Repair Janitorial Supplies Property Tax Cable Heat/Coal Electric Propane Telephone Security System Septic Service Snow Plowing Trash Depreciation Amortization Interest Expense Miscellaneous $239,960 $15,000 $2,250 $4,500 $250 $10,000 $250 $500 $2,000 $3,000 $2,000 $3,000 $400 $2,000 $6,000 $2,200 $300 $300 $300 $2,000 $700 $9,400 $200 $10,013 $2,791 $287,952 $15,750 $2,363 $4,725 $263 $10,500 $263 $525 $2,100 $3,150 $2,100 $3,150 $420 $2,100 $6,300 $2,310 $315 $315 $315 $2,100 $735 $9,318 $200 $9,757 $3,349 $374,338 $16,538 $2,481 $4,961 $276 $11,025 $276 $551 $2,205 $3,308 $2,205 $3,308 $441 $2,205 $6,615 $2,426 $331 $331 $331 $2,205 $772 $9,318 $200 $9,483 $4,354 TOTAL EXPENSES NET INCOME $79,354 $160,606 $82,422 $205,530 $86,142 $288,195 PERIOD ENDING: Current assets Cash and cash equivalents Short-term investments Net receivables Inventory Other current assets Total current assets Long-term assets Long-term investments Fixed assets Accumulated Depreciation Security Deposit Other assets Total assets Current liabilities Accounts payable Short-Term Debt/Current portion of long-term debt Other current liabilities Total current liabilities Long-term debt Other liabilities Total liabilities 12/31/2015 155,222 49,900 205,122 155,500 (31,100) 6,400 335,922 7,500 18,837 26,337 564,696 591,033 12/31/2016 12/31/2017 152,435 74,850 227,285 155,500 (62,200) 6,400 326,985 7,500 19,793 27,293 557,196 584,489 249,449 87,325 336,774 155,500 (93,300) 6,400 405,374 7,500 20,798 28,298 537,402 565,700 Owner's Equity Equity Investment Capital surplus Retained earnings Total equity Total liabilities & equity 75,000 1,500 76,500 667,533 331,611 75,000 2,300 77,300 661,789 334,804 75,000 3,100 78,100 643,800 238,426
Expert Answer:
Answer rating: 100% (QA)
PROJECTED ANNUAL CASH FLOW STATEMENT For the Period Ending End Year 1 End Year 2 End Y... View the full answer
Related Book For
Small Business Management Launching and Growing Entrepreneurial Ventures
ISBN: 978-1305405745
18th edition
Authors: Justin G. Longenecker, J. William Petty, Leslie E. Palich, Frank Hoy
Posted Date:
Students also viewed these finance questions
-
Following is a preparation of a cash flow statement based on the balance sheet, income statement, and additional transaction information provided. Prepare the cash flow statement. Balance Sheet as of...
-
Prepare a cash flow statement for the firm for 2014 and 2015.
-
You will prepare a Cash Flow Statement for Clarks Sporting Goods and then you will calculate ratios for Sams Paint and Drywall. Case 1: Clarks Sporting Goods Dave Clark plans to open a sporting goods...
-
A hospital radiology department has the following activities: Activity Number Activity Description 1 Repair X-ray equipment 2 Taking X-ray with X-ray...
-
What is the value of P for the situation diagrammed? 300 200 100 0_1234 j: 12%
-
Refer to the information for Grin Company above. Grin Company manufactures digital cameras. In January, Grin produced 4,000 cameras with the following costs: Direct materials .......... $400,000...
-
Eco-efficiency provides a measure of winwinan action is undertaken if it saves money and environmental interventions are reduced. Is eco-efficiency too concerned about saving money rather than...
-
Determine the interest on the following notes. (Round to the nearest cent.) a. $58,940 at 6 percent for 60 days. b. $14,280 at 9 percent for 30 days. c. $30,600 at 12 percent for 60 days. d. $21,070...
-
How do transformational leaders orchestrate strategic alliances and collaborative partnerships to leverage complementary strengths and resources, thereby fostering synergistic growth and market...
-
The Shop at Home Network sells various household goods during live television broadcasts. The company owns several warehouses to hold many of the goods it sells, but also leases extra warehouse space...
-
Pets World, a local retailer of pet supplies, faces demand for one of its SKUs at a constant rate of 34,000 units per year. It costs Pets World $15 to process an order to replenish stock and $6.00...
-
What do you believe means more to fans, winning the championship once in a while or being competitive every year?
-
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn. A valid contract must either by typed, printed, or written in pen.
-
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn. A series of letters or e-mail among several persons can satisfy the Statute of Frauds.
-
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn. Personal property is land and anything attached to it.
-
Indicate whether each of the following statements is true or false by writing T or F in t he a nswer c olumn. The Statute of Frauds applies only to contracts that have yet to be pe rformed.
-
# 8 Sandra deposited $605 each month into her retirement, starting her senior year at FIT. She diversified her portfolio, so the interest rate averaged to a fixed rate of 9.75%. If she was 20 when...
-
One of the significant and relevant accounts for this cycle is equipment. For this account, what would typically be the most relevant assertions for the auditor to consider? Why is it important for...
-
$1000 Deposited in a CD earning interest of 1.5% per year-How much can be withdrawn at the end of 10 years? Answer the following: a. Draw Cash Diagram b. Calculation Method c. Factor Notation Method...
-
What do you believe would be the two most desirable and undesirable qualities of an entrepreneur?
-
Describe DashLockers competitive advantage.
-
What do you like about this executive summary? What do you dislike? Hyper Wear was founded in 2008 to participate in the functional fitness market, along with such recognized brands as CrossFit and...
-
A computer chip is essentially a series of micro-sized transistors that function as tiny switches to control the flow of electrons. Millions, sometimes billions, of transistors are packed into chips...
-
Raul Suarez is the factory manager for Tallis Manufacturing, which manufactures metal propellers for small boats. The factory uses hot plastic and metal work in the production process, so the factory...
-
Look at Figure 26.1. For either the UK or the EU: a. Estimate the amplitude of the deviations from trend over the period shown. b. Estimate the length of time between the beginning of the deviation...
Study smarter with the SolutionInn App