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