#1

Dec 31, 2019 assets 1.LO 8.2 Select information of the following publicly traded companies are below. Willamette Valley Vineyards (WVVI) - FYE 2020 BALANCE SHEETS- USD ($) Dec. 31, 2020 CURRENTASSETS Cash and cash equivalents $ 13,999 755 Accounts receivable, not (Note 2) 2,671,576 Inventories (Note 3) 17,687 973 Prepaid expenses and other current 182,286 STATEMENTS OF OPERATIONS - USD 12 Months Ended ($) Dec 31, 2020 Dec 31, 2019 Income tax receivable 484,560 Income Statement (Abstract] Total current assets 35026,130 Sales, net $ 27,314 852 $ 24,749,263 Other assets 13,824 Cost of sales 10,585 076 9.454,681 Vineyard development costs, net 8,020,074 Gross profit 16.729 776 15,294582 Property and equipment, not (Note 4) 31,486,856 OPERATING EXPENSES: Operating lease right of use assets 4,943 463 Sales and marketing 7458,139 7.449,088 Total assets 79.490,347 General and administrative 4,269 864 4 117 970 CURRENT LIABILITIES Total operating expenses 11,728 003 11.567.058 Accounts payable 1.416,210 Income from operations 5001.773 3,727 524 Accrued expenses 1,335,125 OTHER INCOME (EXPENSE) Investor deposits for profered stock 510 636 Interest income 21022 48066 Current portion of note payable 1,384,581 Interest expense (414 061) (440,999) Current portion of long-term debt 450 040 Other income, net 165,916 128,433 Current portion of loase labilities 277,686 Income before income taxes 4,774 650 3.463,024 Uncanned revenue 622,077 Income tax provision (1,379,654) (952,123) Grapes payable 1,307,165 Not income 3,394.995 2510 901 Total current liabilities 7303,520 $ 7050,176 1,814,004 17.075,080 202,981 623,568 28,765,809 13 824 7,624 646 28,648,301 4,862 907 67,915.487 859, 215 1,004,281 0 1:468.473 438,378 203.482 604,777 792,595 5,371 201 1. a.Calculate and compare Fill in the chart below with the relevant information for FYE 2020 for SAM, EAST, and WVVI SAM USD $ in thousands EAST WVVI 2020 2020 2020 End. Accts. Payable Beg. Accts. Payable Average AP bal. COGS + End. Inventory Beg. Inventory = Purchases (est.) + Average AP bal. = AP TIO (times per year) 365 days + AP T/O (times per year) DPO (days) QUESTION 1 P.1.a. The estimated 2020 purchases for Willamette Valley Vineyards (WWVI) were $[a1). Input amounts in thousands and rounded to the nearest thousand (e.g. $1,234,567 1,235)