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2021 2020 Notae CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) Assets 2021 2020 Liabilities and
2021 2020 Notae CLANCY'S DOG BISCUIT CORPORATION Balance Sheet as of December 31, 2021 and 2020 (in millions of dollars) Assets 2021 2020 Liabilities and Equity Current assets: Current liabilities: Cash and marketable securities $ 5 $ 5 Accrued wages and taxes Accounts receivable 22 18 Accounts payable Inventory 28 23 Total $ 55 $ 46 Total Fixed assets: Long-term debt Gross plant and equipment $ 82 $ 66 Stockholders' equity: Less: Accumulated depreciation 21 13 Preferred stock (2 million shares) Net plant and equipment $ 61 $ 53 Common stock and paid-in-surplus (5 million shares) Other long-term assets 16 16 Retained earnings Total $ 77 Total Total assets $ 132 $ 115 Total liabilities and equity $ 8 17 18 $ 43 $ 28 $ 7 15 13 $ 35 $ 24 $ 2 11 48 $ 61 $ 132 $ 2 11 43 $ 56 $115 $ 69 CLANCY'S DOG BISCUIT CORPORATION Income Statement for Years Ending December 31, 2021 and 2020 (in millions of dollars) 2021 2020 Net sales $ 84 $ 88 Less: Cost of goods sold 43 39 Gross profits $ 41 $ 49 Less: Other operating expenses 10 9 Earnings before interest, taxes depreciation, and amortization (EBITDA) $ 31 $ 40 Less: Accumulated depreciation 8 8 Earnings before interest and taxes (EBIT) $ 23 $ 40 Less: Interest 9 9 Earnings before taxes (EBT) $ 14 $ 23 Less: Taxes 3 5 Net income $ 11 $ 18 Less: Preferred stock dividends $ 1 $ 1 Net income available to common stockholders $ 10 $ 17 Less: Common stock dividends 5 5 Addition to retained earnings $ 5 $ 12 Per (common) share data: Earnings per share (EPS) $ 2.00 $ 3.40 Dividends per share (DPS) $ 1.00 $ 1.00 Book value per share (BVPS) $11.80 $10.80 Statement of Cash Flows for Year Ending December 31, 2021 (in millions of dollars) Cash flows from operating activities Additions (sources of cash): 80 Subtractions (uses of cash): Net cash flow from operating activities Cash flows from investing activities Subtractions: Net cash flow from investing activities Cash flows from financing activities Additions: Subtractions: Net cash flow from financing activities Net change in cash and marketable securities
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