1 Background I J K L M N ABC Appliance Inc. is incorporated in 2015. Their major products are kitchen and bath appliances, including cooktop, oven, dishwasher, bathtub and so on. Majority of the company's revenue is generated from the e-commerce marketplace. E-commerce buyers include Amazon, Walmart.com, Homedepot.com and Lowes.com. ABC's sales have been growing year over year. 6 Instruction Please refer to tab 1 and 2 for the company's financial statements and answer the below questions. Please provide your answer in the space provided. (Note: Feel free to reformat or add notes or caculations in tab 1 and 2 as needed.) Based on your review and analysis, do you identify any data that can be a potential error? Question 1 Answer 10 By reviewing the financials, can you identify any issues with the business's operations? 13 Answer Question 3 Answer What are some differences you have observed between ABC and other traditional big brand competitors (LG, Samsung, Boch, Whirpool)? Question 4 If ABC plans to grow more aggressively in 2020 by adding new product lines and expanding to new marketplaces, what will be some potential challenges? Please ignore the current market condition due to COVID-19. 19 Answer What are your recommedations for ABC to improve its financial perfomance? Question 5 Answer + Questions - 1. Balance Sheet 2. Profit and Loss fx ABC Appliances Inc. A ABC Appliances Inc. Balance Sheet As of March 25, 2020 Total 7 8 188,790 10 11 12 158,165 987,916 1,146,081 1,334,871 13 14 15 16 17 ASSETS Current Assets Total Cash Other Current Assets Due to from related parties Inventory Total Other Current Assets Total Current Assets Fixed Assets Computers & Equipment Machinery & Equipment Accumulated Depreciation, Equipment Total Machinery & Equipment Real Property 1 Depreciation Original cost Total Real Property 1 Total Fixed Assets TOTAL ASSETS LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable Accounts Payable 7,134 39,943 (3,333) 36,610 18 19 20 21 22 23 (60,448) 569,939 509,491 553,234 1,888,105 26 27 28 29 975,525 975,525 975,525 (48,176) 429 1,484 262,720 Accounts Payable Total Accounts Payable Credit Cards Total Credit Cards Other Current Liabilities Federal Payroll Taxes Payable FICA Tax Payable FUTA Tax Payable Income Taxes Payable Loan Payable Payroll Clearing SDI/SUI Tax Payable State Payroll Taxes Payable SUTA Payable Total Other Current Liabilities Total Current Liabilities Long-Term Liabilities Equipment Payable Other Long-term Liabilities Vehicles Payable Vehicles Payable - Mercedes Vehicles Payable - Porsche Total Vehicles Payable Total Long-Term Liabilities Total Liabilities Equity Opening Balance Equity Retained Earnings 181 434 265,397 1,192,745 27,960 508,502 (46,985) (90,101) (137,086) 399,376 1,592,121 136,209 (654,106) 49 50 51 (46,985) (90,101) (137,086) 399,376 1,592,121 52 53 54 55 Vehicles Payable - Mercedes Vehicles Payable - Porsche Total Vehicles Payable Total Long-Term Liabilities Total Liabilities Equity Opening Balance Equity Retained Earnings Stockholders Equity Capital Contributions Owner's Draw Total Stockholders Equity Net Income Total Equity TOTAL LIABILITIES AND EQUITY 136,209 (654,106) 56 57 58 59 60 76,805 (12,212) 64,594 749,287 295,984 1,888,105 61 63 64 65 66 + = Questions 1. Balance Sheet 2. Profit and Loss $ % .0 .00 123- Calibri - 12 - BISA - E - T O Y- nm 100% - fx ABC Appliances Inc. ABC Appliances Inc. Profit and Loss (Modified Cash basis) January 1, 2019 - March 25, 2020 Jan 2019 Feb 2019 Mar 2019 Apr 2019 May 2019 Jun 2019 Jul 2019 Aug 2019 Sep 2019 Oct 20 6 524,913.57 558,292.64 705,075.30 651,065.74 793,276.38 500,546.34 881,077.27 451,738.131,079,257.91 822,643 - 136,262.37 $ 388,651.20 -235,540.40 $ 322,752.24 -223,788.49 $ 481,286.81 -289,585.18 $ 361,480.26 -238,801.51 $ 554,474.87 -178,288.02 322,258.32 -314,697.50 $ 566,379.77 -152,212.02 $ 299,526.11 358,845.44 $ 720,412.48 -197,342 $ 625,300 $ 9 10 11 12 13 14 15 16 17 18 19 21 77,460.60 289,729.68 $ 367,190.28 $ 21,460.92 32,313.80 161,030.83 $ 193,344.63 $ 129,407.61 6 4,226.79 285,163.82 $ 349,390.61 $ 131,896.20 15,370.93 436,292.32 451,663.25 90,182.99 21,580.34 1 45,719.40 $ 167,299.74 $ 387,175.13 6 8,112.56 2 78,517.90 $ 346,630.46 $ 24,372.14 23,068.34 267,065.39 $ 290,133.73 $ 276,246.04 57,472.52 133,959.34 $ 191,431.86 $ 108,094.25 5 1,899.84 503,524.71 $ 555,424.55 $ 164,987.93 67,354 369,95 $ 437,31: $ 187,983 $ $ Income Sales of Product Income Sales Returns and Damage Allowances Total Income Cost of Goods Sold Cost of Goods Sold Freight in Purchases Total Cost of Goods Sold Gross Profit Expenses Advertising Advertising Fees - Amazon Auto Auto Maintenance Bank Charges & Fees Contractors Credit Card Fees Entertainment Equipment Fines & Penalties Gas/Fuel General Administrative Expenses 100 479.31 8,988.25 27,753.88 10,236.81 8,158.75 13,474.21 11,277.60 12,741.67 936.00 567.40 9,463.86 18,168.00 9,518.45 3.60 10,953.18 12,025.96 12,596.76 10,220 21 250.00 24.00 11,460.00 24.00 39.00 8,688.80 308.00 25.28 820.00 60.00 22 24.00 80.00 60.00 276.72 64.00 6,275.00 60.00 27.00 500.00 60.00 29.40 54.00 1,024.67 60.00 54.00 800.00 60.00 5,000 23 24 60.00 25 998.58 125.00 207.10 22 1,299.00 65.00 26 16: 27 20 1,588.54 ECA 10 1,167.00 72 01 6,026.08 27 102 cc 2,508.13 3,090.19 4,094.62 CA 3,464.58 3,679.28 3,482.86 3,59 10 OC ABC Appliances Inc. LM ABC Appliances Inc. Profit and Loss (Modified Cash basis) January 1, 2019 - March 25, 2020 5 May 2019 Jun 2019 Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Total 793,276.38 500,546.34 881,077.27 451,738.13 1,079,257.91 822,643.45 889,312.10 1 ,690,051.82 1,562,055.26 1,202,403.38 12,311,709.32 -238,801.51 $ 554,474.87 -178,288.02 322,258.32 -314,697.50 $ 566,379.77 -152,212.02 $ 299,526.11 -358,845.44 $ 720,412.48 -197,342.77 $ 625,300.68 -224,499.79 $ 664,812.32 -575,015.33 $ 1,115,036.50 -437,790.19 $ 1,124,265.08 -361,369.98 $ 841,033.41 -3,924,039.29 8,387,670.03 9 $ 21,580.34 145,719.40 $ 167,299.74 $ 387,175.13 68,112.56 278,517.90 $ 346,630.46 $ 24,372.14 23,068.34 267,065.39 $ 290,133.73 $ 276,246.04 5 7,472.52 133,959.34 $ 191,431.86 $ 108,094.25 51,899.84 503,524.71 $ 555,424.55 $ 164,987.93 67,354.45 369,957.89 $ 437,312.34 $ 187,988.34 3 7,578.69 3 48,184.32 $ 385,763.01 $ 279,049.31 62,268.99 459,069.17 521,338.16 593,698.34 96,613.55 1,050,903.20 1,147,516.75 23,251.67 2 6,940.31 448,327.19 $ 475,267.50 $ 365,765.91 14 15 $ $ $ $ 567.40 9,463.86 18,168.00 9,518.45 3.60 10,953.18 12,025.96 100.00 10,220.86 100.00 9,993.89 33,128.39 12,596.76 12,165.00 7,886.54 2,350.49 300.00 7,312.94 4,869.05 36,287.49 6,623.50 702,261.71 5,177,445.16 5,879,706.87 2,507,963.16 0.00 115,361.03 142,036.88 41,283.93 834.72 685.28 57,344.66 1,234.65 29.40 7,753.23 65.00 374.64 70,508.37 111 CNC ci 276.72 64.00 6,275.00 60.00 24.00 54.00 1,024.67 60.00 54.00 800.00 60.00 54.00 5,000.00 62.78 66.00 5,900.00 27.00 500.00 60.00 29.40 60.00 11,013.00 85.00 2,029.30 85.00 3,753.89 751.87 60.00 207.10 225.00 10,984.38 998.58 -9,985.80 2,901.39 3,090.19 4,094.62 3,464.58 3,679.28 3,482.86 162.21 3,596.39 10 on 11 108.74 3,667.81 10 bonn 39.82 6,974.51 99 179 11 63.87 14,757.36 12,411.02 on cc 10 OLAN Calibri - 12 - BISA BESI G EYE na 100% - $ % .0 .00 123 fx ABC Appliances Inc. 23 1,588.54 2,508.13 1,167.00 5,736.91 3,090.19 3,464.58 3,679.28 6,026.08 2 7,483.65 4,094.62 2,354.02 3,482.86 3,59 15,845 31 $ $ $ $ $ $ $ $ $ 564.16 146.31 5,736.91 1,546.31 0.00 14,207.45 2,354.02 2,287.13 15,849 2,383 27,483.65 785.31 495.87 1,028.00 95.67 0.00 2,283.63 4,366.00 4,252.57 712.60 0.00 2,283.63 569.64 50.00 88.11 0.00 1,625.64 100.87 474.00 37.01 612.80 53.62 0.00 1,624.18 1,868.34 600.00 89.98 59: -1,310.78 0.68 6,000.00 600.00 36.79 -5,767.27 3,400.00 298.63 3,100.00 36.14 42.67 74.34 41.41 133.08 -64.82 300.56 5,784.63 687.29 133.08 61.46 148.36 41 125.58 General Administrative Expenses Income Taxes Federal Income Taxes Total Income Taxes Insurance Interest Expense Legal & Professional Services Loss on Foreign Exchange Marketing Meals Non Taxable Relmbursements Office Furniture Office Supplies Payroll Taxes Platform Selling Fees Postage Rent & Lease Repairs & Maintenance Salaries and Wages Shipping, Freight & Delivery Software Supplies Taxes & Licenses Travel Uncategorized Expense Utilities Warehouse, Storage & Labeling Supplies Total Expenses 136.80 -787.70 130.58 8,162.70 459.60 15,640.87 48.00 7,727.05 69,233.18 7,076.11 239.94 1,078.08 2,454.40 250.00 15,870.66 666.83 596.22 300.00 16,074.80 745 2,466 400 16,074 1,062.31 270.58 300.00 16,074.80 450.00 16,074.80 350.00 16,074.80 450.00 16,074.80 45 46 10,846.30 20,085.73 338.49 -39.99 5,924.05 33,694.90 906.80 9,121.18 59,590.69 492.11 33,042.68 58,252.19 8,506.73 22,436.17 31,614.80 917.47 20,436.17 29,066.28 363.07 18,065.92 50,483.51 622.27 154,692.91 39,143.30 1,244.60 15,261 30,545 6,80 25.00 5,463 4,83 28.40 525.49 584.75 619.50 446.44 454.36 487.36 847.37 870.76 1,188.56 38 975.00 $ 64,934.24 13 175 37 675.00 $ 161,994.57 37 Coc ac 570.00 $ 103,369.61 30 01 CO $ $ $ 120, 199.84 110 00103 $ 147,916.78 190 200 119,242.15 149 C1110 125.00 95,202.64 101 3 an $ 106,464.35 1270 an 9,080.00 $ 243,260.11 70 777 10 3,000 $ 125,29 cm co: + Questions - 1. Balance Sheet 2. Profit and Loss Calibri - 12 - BISA . ES - GETYE. na 100% - $ %0.09 123 fx ABC Appliances Inc. L M 3,090.19 3,464.58 3,679.28 3,482.86 14,757.36 4,094.62 2,354.02 3,596.39 15,849.41 3,667.81 25,389.20 12,411.02 30,655.18 6,974.51 33,473.11 31 $ $ $ $ $ $ $ $ $ $ 0.00 14,207.45 2,354.02 2,287.13 0.00 2,283.63 4,366.00 4,252.57 712.60 0.00 2,283.63 569.64 50.00 88.11 0.00 1,624.18 1,868.34 600.00 89.98 15,849.41 2,383.63 593.64 25,389.20 6,838.17 793.27 695.88 30,655.18 2,613.38 1,032.13 200.00 33,473.11 3,783.55 801.56 20,000.00 72,605.77 72,605.77 4,147.52 1,023.31 10,734.00 3,400.00 298.63 3,100.00 36.14 11,117.20 303.04 1,252.65 116.53 40.00 141.56 159.00 1,248.85 74.34 233.80 41.41 133.08 687.29 133.08 61.46 148.36 136.80 799.98 745.15 2,469.23 400.00 16,074.80 666.83 596.22 300.00 16,074.80 272.27 29,282.74 38,063.39 550.00 19,807.20 120.01 200.32 5,915.05 350.00 16,506.05 70,508.37 141,505.64 72,605.77 214,111.41 46,555.84 11,644.63 43,823.67 1,395.61 13,414.38 2,214.41 0.00 2,606.08 6,881.51 36,437.04 66,955.41 6,748.45 206,126.58 1,712.03 367,041.79 502,395.04 41,532.66 594.53 44,271.79 9,413.29 0.00 13,392.77 300.00 16,074.80 450.00 16,074.80 350.00 16,074.80 4,984.08 1,597.37 693.93 467.80 18,003.71 54.00 22,546.17 9,066.04 1,724.29 450.00 16,074.80 2,606.08 527.59 1,758.51 2,815.86 1,358.74 23,578.71 1,610.03 13,271.65 2,208.45 7,529.56 33,042.68 58,252.19 8,506.73 22,436.17 31,614.80 917.47 20,436.17 29,066.28 363.07 18,065.92 50,483.51 622.27 154,692.91 39,143.30 1,244.60 15,262.30 30,545.42 6,803.21 22.23 5,463.54 4,838.99 21,038.85 51,018.69 4,145.09 612.29 12,630,39 18,391.86 862.86 25.00 37,252.00 193.72 1,531.25 3,500.00 253.08 599.10 454.36 487.36 847.37 870.76 1,188.56 388.50 114.01 209.72 6,000.82 655.13 55 $ 147,916.78 1 130 1cm 3c $ 4 119,242.15 4 4 1 $ 1 125.00 95,202.64 1 1 142 n. $ 106,464.35 1ean on 9,080.00 $ 243,260.11 70 17110 3,000.00 $ 125,295.07 ccns 17 $ 274,243.58 on 3 $ 2,827.33 178,213.81 11 NOAE $ 2,841.59 138,443.50 101 cn 17 14,664.00 $ 232,758.38 133 no es 34,757.92 2,111,538.63 NG ANAE Draft and le 0.00 123 Calibri - 12 - BISA BE I GEYI OT 100% - $ ABC Appliances Inc. fx 270.58 15,870.66 16,074.80 16,074.80 16,074.80 16,074.80 16,074.80 16,074 45 10,846.30 20,085.73 338.49 -39.99 15,640.87 48.00 7,727.05 69,233.18 7,076.11 5,924.05 33,694.90 906.80 9,121.18 59,590.69 492.11 33,042.68 58,252.19 8,506.73 22,436.17 31,614.80 917.47 20,436.17 29,066.28 363.07 18,065.92 50,483.51 622.27 154,692.91 39,143.30 1,244.60 15,261 30,54 6,80 19 25.00 50 51 52 5,46: 4,832 28.40 525.49 584.75 619.50 446.44 454.36 487.36 847.37 870.76 1,188.56 383 55 56 57 Rent & Lease Repairs & Maintenance Salaries and Wages Shipping, Freight & Delivery Software Supplies Taxes & Licenses Travel Uncategorized Expense Utilities Warehouse, Storage & Labeling Supplies Total Expenses Net Operating Income Other Income Bank Rebates Gain/Loss Insurance Reimbursement Management Fee Total Other Income Other Expenses Depreciation Home Office Total Other Expenses Net Other Income Net Income 975.00 $ 64,934.24 $ 43,473.32 675.00 $ 161,994.57 $ 32,586.96 570.00 $ 103,369.61 $ 28,526.59 $ 120,199.84 $ 210,382.83 $ 147,916.78 $ 239,258.35 $ 119,242.15 $ 143,614.29 125.00 $ 95,202.64 $ 181,043.40 $ 106,464.35 $ 1,629.90 9,080.00 $ 243,260.11 $78,272.18 3,000 $ 125,295 $ 62,693 1,982.95 5,307.16 1,065.58 708.35 1,851.05 902.06 -89.97 60 61 $ 12 30,000 30,12 1,065.58 $ 2,691.30 $ 1,851.05 $ 902.06 $ 0.00 $ 89.97 $ 0.00 50,100.00 55,407.16 $ 30,000.00 30,000.00 $ $ 63 238.10 238.10 238.10 65 66 238.10 3,366.56 $ 3,604.66 $ 2,539.08 $ 46,012.40 $ 238.10 $ 2,453.20 $ 30,133.76 $ $ $ 238.10 10,733.12 10,971.22 9,120.17 19,406.42 $ 238.10 $ 663.96 $ 209,718.87 238.10 13,366.56 $ 13,604.66 $ 13,604.66 $ 225,653.69 $ 238.10 $ 328.07 $ 143,942.36 238.10 3,366.56 $ 3,604.66 $ 3,604.66 $ 177,438.74 $ $ $ 238.10 6,866.56 7,104.66 48,302.50 49,932.40 238.10 2,706.22 $ 2,944.32 $ 27,055.68 $ 51,216.50 $ $ $ 238 5,70 5,944 24,181 86,875 $ % ... .00 123- Calibri - 12 - BISA - I V G E Y on 100% fx ABC Appliances Inc. 16,074.80 16,074.80 16,074.80 16,074.80 16,074.80 16,074.80 19,807.20 16,506.05 33,042.68 58,252.19 8,506.73 22,436.17 31,614.80 917.47 20,436.17 29,066.28 363.07 18,065.92 50,483.51 622.27 154,692.91 39,143.30 1,244.60 21,038.85 51,018.69 4,145.09 612.29 18,003.71 54.00 22,546.17 9,066.04 1,724.29 15,262.30 30,545.42 6,803.21 22.23 5,463.54 4,838.99 12,630.39 18,391.86 862.86 23,578.71 1,610.03 13,271.65 2,208.45 7,529.56 206,126.58 1,712.03 367,041.79 502,395.04 41,532.66 594.53 44,271.79 9,413.29 0.00 13,392.77 25.00 253.08 37,252.00 193.72 1,531.25 3,500.00 599.10 454.36 487.36 847.37 870.76 1,188.56 388.50 114.01 209.72 6,000.82 655.13 55 56 $ 147,916.78 $ 239,258.35 $ 119,242.15 $ 143,614.29 125.00 $ 95,202.64 $ 181,043.40 $ 106,464.35 $ 1,629.90 9,080.00 $ 243,260.11 $78,272.18 3,000.00 $ 125,295.07 $ 62,693.27 $ 274,243.58 $ 4,805.73 $ $ 2,827.33 178,213.81 415,484.53 $ $ 2,841.59 138,443.50 161,695.17 14,664.00 $ 232,758.38 $ 133,007.53 34,757.92 2,111,538.63 396,424.53 0.00 22,929.04 5,307.16 15,638.93 -89.97 913.50 126.43 30,000.00 30,126.43 1,760.68 30,000.00 31,760.68 0.00 7,237.68 140,100.00 170,266.72 $ 89.97 50,100.00 55,407.16 $ 0.00 30,000.00 30,000.00 $ $ $ $ 15,638.93 $ 913.50 $ 0.00 $ 62 0.00 63 238.10 1,965.19 65 66 67 238.10 13,366.56 $ 13,604.66 $13,604.66 $ 225,653.69 $ 238.10 $ 328.07 $ 143,942.36 238.10 3,366.56 $ 3,604.66 $ 3,604.66 $ 177,438.74 6 $ $ $ 238.10 6,866.56 ,866.56 7,104.66 48,302.50 49,932.40 238.10 2,706.22 $ 2,944.32 $ 27,055.68 $ 51,216.50 238.10 5,706.22 $ 5,944.32 $ 24,182.11 $ 86,875.38 2 $ $ $ 238.10 ,706.22 2,944.32 12,694.61 17,500.34 $ $ $ 57,231.96 -48,818.02 8,413.94 7,500.44 407,984.09 $ $ $ 1,965.19 1,965.19 163,660.36 1,965.19 1,875.00 $ 3,840.19 $ 27,920.49 $ 160,928.02 63,781.44 1,875.00 65,656.44 104,610.28 501,034.81 70 71 + Questions - 1. Balance Sheet - 1 Background I J K L M N ABC Appliance Inc. is incorporated in 2015. Their major products are kitchen and bath appliances, including cooktop, oven, dishwasher, bathtub and so on. Majority of the company's revenue is generated from the e-commerce marketplace. E-commerce buyers include Amazon, Walmart.com, Homedepot.com and Lowes.com. ABC's sales have been growing year over year. 6 Instruction Please refer to tab 1 and 2 for the company's financial statements and answer the below questions. Please provide your answer in the space provided. (Note: Feel free to reformat or add notes or caculations in tab 1 and 2 as needed.) Based on your review and analysis, do you identify any data that can be a potential error? Question 1 Answer 10 By reviewing the financials, can you identify any issues with the business's operations? 13 Answer Question 3 Answer What are some differences you have observed between ABC and other traditional big brand competitors (LG, Samsung, Boch, Whirpool)? Question 4 If ABC plans to grow more aggressively in 2020 by adding new product lines and expanding to new marketplaces, what will be some potential challenges? Please ignore the current market condition due to COVID-19. 19 Answer What are your recommedations for ABC to improve its financial perfomance? Question 5 Answer + Questions - 1. Balance Sheet 2. Profit and Loss fx ABC Appliances Inc. A ABC Appliances Inc. Balance Sheet As of March 25, 2020 Total 7 8 188,790 10 11 12 158,165 987,916 1,146,081 1,334,871 13 14 15 16 17 ASSETS Current Assets Total Cash Other Current Assets Due to from related parties Inventory Total Other Current Assets Total Current Assets Fixed Assets Computers & Equipment Machinery & Equipment Accumulated Depreciation, Equipment Total Machinery & Equipment Real Property 1 Depreciation Original cost Total Real Property 1 Total Fixed Assets TOTAL ASSETS LIABILITIES AND EQUITY Liabilities Current Liabilities Accounts Payable Accounts Payable 7,134 39,943 (3,333) 36,610 18 19 20 21 22 23 (60,448) 569,939 509,491 553,234 1,888,105 26 27 28 29 975,525 975,525 975,525 (48,176) 429 1,484 262,720 Accounts Payable Total Accounts Payable Credit Cards Total Credit Cards Other Current Liabilities Federal Payroll Taxes Payable FICA Tax Payable FUTA Tax Payable Income Taxes Payable Loan Payable Payroll Clearing SDI/SUI Tax Payable State Payroll Taxes Payable SUTA Payable Total Other Current Liabilities Total Current Liabilities Long-Term Liabilities Equipment Payable Other Long-term Liabilities Vehicles Payable Vehicles Payable - Mercedes Vehicles Payable - Porsche Total Vehicles Payable Total Long-Term Liabilities Total Liabilities Equity Opening Balance Equity Retained Earnings 181 434 265,397 1,192,745 27,960 508,502 (46,985) (90,101) (137,086) 399,376 1,592,121 136,209 (654,106) 49 50 51 (46,985) (90,101) (137,086) 399,376 1,592,121 52 53 54 55 Vehicles Payable - Mercedes Vehicles Payable - Porsche Total Vehicles Payable Total Long-Term Liabilities Total Liabilities Equity Opening Balance Equity Retained Earnings Stockholders Equity Capital Contributions Owner's Draw Total Stockholders Equity Net Income Total Equity TOTAL LIABILITIES AND EQUITY 136,209 (654,106) 56 57 58 59 60 76,805 (12,212) 64,594 749,287 295,984 1,888,105 61 63 64 65 66 + = Questions 1. Balance Sheet 2. Profit and Loss $ % .0 .00 123- Calibri - 12 - BISA - E - T O Y- nm 100% - fx ABC Appliances Inc. ABC Appliances Inc. Profit and Loss (Modified Cash basis) January 1, 2019 - March 25, 2020 Jan 2019 Feb 2019 Mar 2019 Apr 2019 May 2019 Jun 2019 Jul 2019 Aug 2019 Sep 2019 Oct 20 6 524,913.57 558,292.64 705,075.30 651,065.74 793,276.38 500,546.34 881,077.27 451,738.131,079,257.91 822,643 - 136,262.37 $ 388,651.20 -235,540.40 $ 322,752.24 -223,788.49 $ 481,286.81 -289,585.18 $ 361,480.26 -238,801.51 $ 554,474.87 -178,288.02 322,258.32 -314,697.50 $ 566,379.77 -152,212.02 $ 299,526.11 358,845.44 $ 720,412.48 -197,342 $ 625,300 $ 9 10 11 12 13 14 15 16 17 18 19 21 77,460.60 289,729.68 $ 367,190.28 $ 21,460.92 32,313.80 161,030.83 $ 193,344.63 $ 129,407.61 6 4,226.79 285,163.82 $ 349,390.61 $ 131,896.20 15,370.93 436,292.32 451,663.25 90,182.99 21,580.34 1 45,719.40 $ 167,299.74 $ 387,175.13 6 8,112.56 2 78,517.90 $ 346,630.46 $ 24,372.14 23,068.34 267,065.39 $ 290,133.73 $ 276,246.04 57,472.52 133,959.34 $ 191,431.86 $ 108,094.25 5 1,899.84 503,524.71 $ 555,424.55 $ 164,987.93 67,354 369,95 $ 437,31: $ 187,983 $ $ Income Sales of Product Income Sales Returns and Damage Allowances Total Income Cost of Goods Sold Cost of Goods Sold Freight in Purchases Total Cost of Goods Sold Gross Profit Expenses Advertising Advertising Fees - Amazon Auto Auto Maintenance Bank Charges & Fees Contractors Credit Card Fees Entertainment Equipment Fines & Penalties Gas/Fuel General Administrative Expenses 100 479.31 8,988.25 27,753.88 10,236.81 8,158.75 13,474.21 11,277.60 12,741.67 936.00 567.40 9,463.86 18,168.00 9,518.45 3.60 10,953.18 12,025.96 12,596.76 10,220 21 250.00 24.00 11,460.00 24.00 39.00 8,688.80 308.00 25.28 820.00 60.00 22 24.00 80.00 60.00 276.72 64.00 6,275.00 60.00 27.00 500.00 60.00 29.40 54.00 1,024.67 60.00 54.00 800.00 60.00 5,000 23 24 60.00 25 998.58 125.00 207.10 22 1,299.00 65.00 26 16: 27 20 1,588.54 ECA 10 1,167.00 72 01 6,026.08 27 102 cc 2,508.13 3,090.19 4,094.62 CA 3,464.58 3,679.28 3,482.86 3,59 10 OC ABC Appliances Inc. LM ABC Appliances Inc. Profit and Loss (Modified Cash basis) January 1, 2019 - March 25, 2020 5 May 2019 Jun 2019 Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019 Dec 2019 Jan 2020 Feb 2020 Total 793,276.38 500,546.34 881,077.27 451,738.13 1,079,257.91 822,643.45 889,312.10 1 ,690,051.82 1,562,055.26 1,202,403.38 12,311,709.32 -238,801.51 $ 554,474.87 -178,288.02 322,258.32 -314,697.50 $ 566,379.77 -152,212.02 $ 299,526.11 -358,845.44 $ 720,412.48 -197,342.77 $ 625,300.68 -224,499.79 $ 664,812.32 -575,015.33 $ 1,115,036.50 -437,790.19 $ 1,124,265.08 -361,369.98 $ 841,033.41 -3,924,039.29 8,387,670.03 9 $ 21,580.34 145,719.40 $ 167,299.74 $ 387,175.13 68,112.56 278,517.90 $ 346,630.46 $ 24,372.14 23,068.34 267,065.39 $ 290,133.73 $ 276,246.04 5 7,472.52 133,959.34 $ 191,431.86 $ 108,094.25 51,899.84 503,524.71 $ 555,424.55 $ 164,987.93 67,354.45 369,957.89 $ 437,312.34 $ 187,988.34 3 7,578.69 3 48,184.32 $ 385,763.01 $ 279,049.31 62,268.99 459,069.17 521,338.16 593,698.34 96,613.55 1,050,903.20 1,147,516.75 23,251.67 2 6,940.31 448,327.19 $ 475,267.50 $ 365,765.91 14 15 $ $ $ $ 567.40 9,463.86 18,168.00 9,518.45 3.60 10,953.18 12,025.96 100.00 10,220.86 100.00 9,993.89 33,128.39 12,596.76 12,165.00 7,886.54 2,350.49 300.00 7,312.94 4,869.05 36,287.49 6,623.50 702,261.71 5,177,445.16 5,879,706.87 2,507,963.16 0.00 115,361.03 142,036.88 41,283.93 834.72 685.28 57,344.66 1,234.65 29.40 7,753.23 65.00 374.64 70,508.37 111 CNC ci 276.72 64.00 6,275.00 60.00 24.00 54.00 1,024.67 60.00 54.00 800.00 60.00 54.00 5,000.00 62.78 66.00 5,900.00 27.00 500.00 60.00 29.40 60.00 11,013.00 85.00 2,029.30 85.00 3,753.89 751.87 60.00 207.10 225.00 10,984.38 998.58 -9,985.80 2,901.39 3,090.19 4,094.62 3,464.58 3,679.28 3,482.86 162.21 3,596.39 10 on 11 108.74 3,667.81 10 bonn 39.82 6,974.51 99 179 11 63.87 14,757.36 12,411.02 on cc 10 OLAN Calibri - 12 - BISA BESI G EYE na 100% - $ % .0 .00 123 fx ABC Appliances Inc. 23 1,588.54 2,508.13 1,167.00 5,736.91 3,090.19 3,464.58 3,679.28 6,026.08 2 7,483.65 4,094.62 2,354.02 3,482.86 3,59 15,845 31 $ $ $ $ $ $ $ $ $ 564.16 146.31 5,736.91 1,546.31 0.00 14,207.45 2,354.02 2,287.13 15,849 2,383 27,483.65 785.31 495.87 1,028.00 95.67 0.00 2,283.63 4,366.00 4,252.57 712.60 0.00 2,283.63 569.64 50.00 88.11 0.00 1,625.64 100.87 474.00 37.01 612.80 53.62 0.00 1,624.18 1,868.34 600.00 89.98 59: -1,310.78 0.68 6,000.00 600.00 36.79 -5,767.27 3,400.00 298.63 3,100.00 36.14 42.67 74.34 41.41 133.08 -64.82 300.56 5,784.63 687.29 133.08 61.46 148.36 41 125.58 General Administrative Expenses Income Taxes Federal Income Taxes Total Income Taxes Insurance Interest Expense Legal & Professional Services Loss on Foreign Exchange Marketing Meals Non Taxable Relmbursements Office Furniture Office Supplies Payroll Taxes Platform Selling Fees Postage Rent & Lease Repairs & Maintenance Salaries and Wages Shipping, Freight & Delivery Software Supplies Taxes & Licenses Travel Uncategorized Expense Utilities Warehouse, Storage & Labeling Supplies Total Expenses 136.80 -787.70 130.58 8,162.70 459.60 15,640.87 48.00 7,727.05 69,233.18 7,076.11 239.94 1,078.08 2,454.40 250.00 15,870.66 666.83 596.22 300.00 16,074.80 745 2,466 400 16,074 1,062.31 270.58 300.00 16,074.80 450.00 16,074.80 350.00 16,074.80 450.00 16,074.80 45 46 10,846.30 20,085.73 338.49 -39.99 5,924.05 33,694.90 906.80 9,121.18 59,590.69 492.11 33,042.68 58,252.19 8,506.73 22,436.17 31,614.80 917.47 20,436.17 29,066.28 363.07 18,065.92 50,483.51 622.27 154,692.91 39,143.30 1,244.60 15,261 30,545 6,80 25.00 5,463 4,83 28.40 525.49 584.75 619.50 446.44 454.36 487.36 847.37 870.76 1,188.56 38 975.00 $ 64,934.24 13 175 37 675.00 $ 161,994.57 37 Coc ac 570.00 $ 103,369.61 30 01 CO $ $ $ 120, 199.84 110 00103 $ 147,916.78 190 200 119,242.15 149 C1110 125.00 95,202.64 101 3 an $ 106,464.35 1270 an 9,080.00 $ 243,260.11 70 777 10 3,000 $ 125,29 cm co: + Questions - 1. Balance Sheet 2. Profit and Loss Calibri - 12 - BISA . ES - GETYE. na 100% - $ %0.09 123 fx ABC Appliances Inc. L M 3,090.19 3,464.58 3,679.28 3,482.86 14,757.36 4,094.62 2,354.02 3,596.39 15,849.41 3,667.81 25,389.20 12,411.02 30,655.18 6,974.51 33,473.11 31 $ $ $ $ $ $ $ $ $ $ 0.00 14,207.45 2,354.02 2,287.13 0.00 2,283.63 4,366.00 4,252.57 712.60 0.00 2,283.63 569.64 50.00 88.11 0.00 1,624.18 1,868.34 600.00 89.98 15,849.41 2,383.63 593.64 25,389.20 6,838.17 793.27 695.88 30,655.18 2,613.38 1,032.13 200.00 33,473.11 3,783.55 801.56 20,000.00 72,605.77 72,605.77 4,147.52 1,023.31 10,734.00 3,400.00 298.63 3,100.00 36.14 11,117.20 303.04 1,252.65 116.53 40.00 141.56 159.00 1,248.85 74.34 233.80 41.41 133.08 687.29 133.08 61.46 148.36 136.80 799.98 745.15 2,469.23 400.00 16,074.80 666.83 596.22 300.00 16,074.80 272.27 29,282.74 38,063.39 550.00 19,807.20 120.01 200.32 5,915.05 350.00 16,506.05 70,508.37 141,505.64 72,605.77 214,111.41 46,555.84 11,644.63 43,823.67 1,395.61 13,414.38 2,214.41 0.00 2,606.08 6,881.51 36,437.04 66,955.41 6,748.45 206,126.58 1,712.03 367,041.79 502,395.04 41,532.66 594.53 44,271.79 9,413.29 0.00 13,392.77 300.00 16,074.80 450.00 16,074.80 350.00 16,074.80 4,984.08 1,597.37 693.93 467.80 18,003.71 54.00 22,546.17 9,066.04 1,724.29 450.00 16,074.80 2,606.08 527.59 1,758.51 2,815.86 1,358.74 23,578.71 1,610.03 13,271.65 2,208.45 7,529.56 33,042.68 58,252.19 8,506.73 22,436.17 31,614.80 917.47 20,436.17 29,066.28 363.07 18,065.92 50,483.51 622.27 154,692.91 39,143.30 1,244.60 15,262.30 30,545.42 6,803.21 22.23 5,463.54 4,838.99 21,038.85 51,018.69 4,145.09 612.29 12,630,39 18,391.86 862.86 25.00 37,252.00 193.72 1,531.25 3,500.00 253.08 599.10 454.36 487.36 847.37 870.76 1,188.56 388.50 114.01 209.72 6,000.82 655.13 55 $ 147,916.78 1 130 1cm 3c $ 4 119,242.15 4 4 1 $ 1 125.00 95,202.64 1 1 142 n. $ 106,464.35 1ean on 9,080.00 $ 243,260.11 70 17110 3,000.00 $ 125,295.07 ccns 17 $ 274,243.58 on 3 $ 2,827.33 178,213.81 11 NOAE $ 2,841.59 138,443.50 101 cn 17 14,664.00 $ 232,758.38 133 no es 34,757.92 2,111,538.63 NG ANAE Draft and le 0.00 123 Calibri - 12 - BISA BE I GEYI OT 100% - $ ABC Appliances Inc. fx 270.58 15,870.66 16,074.80 16,074.80 16,074.80 16,074.80 16,074.80 16,074 45 10,846.30 20,085.73 338.49 -39.99 15,640.87 48.00 7,727.05 69,233.18 7,076.11 5,924.05 33,694.90 906.80 9,121.18 59,590.69 492.11 33,042.68 58,252.19 8,506.73 22,436.17 31,614.80 917.47 20,436.17 29,066.28 363.07 18,065.92 50,483.51 622.27 154,692.91 39,143.30 1,244.60 15,261 30,54 6,80 19 25.00 50 51 52 5,46: 4,832 28.40 525.49 584.75 619.50 446.44 454.36 487.36 847.37 870.76 1,188.56 383 55 56 57 Rent & Lease Repairs & Maintenance Salaries and Wages Shipping, Freight & Delivery Software Supplies Taxes & Licenses Travel Uncategorized Expense Utilities Warehouse, Storage & Labeling Supplies Total Expenses Net Operating Income Other Income Bank Rebates Gain/Loss Insurance Reimbursement Management Fee Total Other Income Other Expenses Depreciation Home Office Total Other Expenses Net Other Income Net Income 975.00 $ 64,934.24 $ 43,473.32 675.00 $ 161,994.57 $ 32,586.96 570.00 $ 103,369.61 $ 28,526.59 $ 120,199.84 $ 210,382.83 $ 147,916.78 $ 239,258.35 $ 119,242.15 $ 143,614.29 125.00 $ 95,202.64 $ 181,043.40 $ 106,464.35 $ 1,629.90 9,080.00 $ 243,260.11 $78,272.18 3,000 $ 125,295 $ 62,693 1,982.95 5,307.16 1,065.58 708.35 1,851.05 902.06 -89.97 60 61 $ 12 30,000 30,12 1,065.58 $ 2,691.30 $ 1,851.05 $ 902.06 $ 0.00 $ 89.97 $ 0.00 50,100.00 55,407.16 $ 30,000.00 30,000.00 $ $ 63 238.10 238.10 238.10 65 66 238.10 3,366.56 $ 3,604.66 $ 2,539.08 $ 46,012.40 $ 238.10 $ 2,453.20 $ 30,133.76 $ $ $ 238.10 10,733.12 10,971.22 9,120.17 19,406.42 $ 238.10 $ 663.96 $ 209,718.87 238.10 13,366.56 $ 13,604.66 $ 13,604.66 $ 225,653.69 $ 238.10 $ 328.07 $ 143,942.36 238.10 3,366.56 $ 3,604.66 $ 3,604.66 $ 177,438.74 $ $ $ 238.10 6,866.56 7,104.66 48,302.50 49,932.40 238.10 2,706.22 $ 2,944.32 $ 27,055.68 $ 51,216.50 $ $ $ 238 5,70 5,944 24,181 86,875 $ % ... .00 123- Calibri - 12 - BISA - I V G E Y on 100% fx ABC Appliances Inc. 16,074.80 16,074.80 16,074.80 16,074.80 16,074.80 16,074.80 19,807.20 16,506.05 33,042.68 58,252.19 8,506.73 22,436.17 31,614.80 917.47 20,436.17 29,066.28 363.07 18,065.92 50,483.51 622.27 154,692.91 39,143.30 1,244.60 21,038.85 51,018.69 4,145.09 612.29 18,003.71 54.00 22,546.17 9,066.04 1,724.29 15,262.30 30,545.42 6,803.21 22.23 5,463.54 4,838.99 12,630.39 18,391.86 862.86 23,578.71 1,610.03 13,271.65 2,208.45 7,529.56 206,126.58 1,712.03 367,041.79 502,395.04 41,532.66 594.53 44,271.79 9,413.29 0.00 13,392.77 25.00 253.08 37,252.00 193.72 1,531.25 3,500.00 599.10 454.36 487.36 847.37 870.76 1,188.56 388.50 114.01 209.72 6,000.82 655.13 55 56 $ 147,916.78 $ 239,258.35 $ 119,242.15 $ 143,614.29 125.00 $ 95,202.64 $ 181,043.40 $ 106,464.35 $ 1,629.90 9,080.00 $ 243,260.11 $78,272.18 3,000.00 $ 125,295.07 $ 62,693.27 $ 274,243.58 $ 4,805.73 $ $ 2,827.33 178,213.81 415,484.53 $ $ 2,841.59 138,443.50 161,695.17 14,664.00 $ 232,758.38 $ 133,007.53 34,757.92 2,111,538.63 396,424.53 0.00 22,929.04 5,307.16 15,638.93 -89.97 913.50 126.43 30,000.00 30,126.43 1,760.68 30,000.00 31,760.68 0.00 7,237.68 140,100.00 170,266.72 $ 89.97 50,100.00 55,407.16 $ 0.00 30,000.00 30,000.00 $ $ $ $ 15,638.93 $ 913.50 $ 0.00 $ 62 0.00 63 238.10 1,965.19 65 66 67 238.10 13,366.56 $ 13,604.66 $13,604.66 $ 225,653.69 $ 238.10 $ 328.07 $ 143,942.36 238.10 3,366.56 $ 3,604.66 $ 3,604.66 $ 177,438.74 6 $ $ $ 238.10 6,866.56 ,866.56 7,104.66 48,302.50 49,932.40 238.10 2,706.22 $ 2,944.32 $ 27,055.68 $ 51,216.50 238.10 5,706.22 $ 5,944.32 $ 24,182.11 $ 86,875.38 2 $ $ $ 238.10 ,706.22 2,944.32 12,694.61 17,500.34 $ $ $ 57,231.96 -48,818.02 8,413.94 7,500.44 407,984.09 $ $ $ 1,965.19 1,965.19 163,660.36 1,965.19 1,875.00 $ 3,840.19 $ 27,920.49 $ 160,928.02 63,781.44 1,875.00 65,656.44 104,610.28 501,034.81 70 71 + Questions - 1. Balance Sheet
