Balance Sheet
Income Statement
Quesiton 1 -
Current Year Last Year 38,546.00 42,323.00 5,210.00 ASSETS CURRENT ASSETS Cash Accounts Receivable - Trade Accounts Receivable - Retention Inventory Costs and Profits in Excess of Billings Notes Receivable Prepaid Expenses Other Current Assets TOTAL CURRENT ASSETS $ 35,465.00 $ 75,756.00 S 7,216.00 $ S 9,236.00 $ 3,562.00 S 546.00 S 3,114.00 S 134,895.00 S $ S S S S S S $ 7,598.00 1,061.00 1.256.00 95,994.00 un FIXED AND OTHER ASSETS Construction Equipment Trucks and Autos Office Equipment TOTAL FLXED ASSETS LESS DEPRECIATION NET FIXED ASSETS Other Assets TOTAL ASSETS 41,189.00 12,035.00 9,356.00 62,580.00 50,064.00 12,516.00 50,953.00 $ 198,364.00 S 41,189.00 S 12,035.00 S 9.356.00 $ 62,580.00 $ 43,806.00 S 18,774.00 S 65.230.00 $ 179,998.00 LIABILITIES Current Liabilities Accounts Payable - Trade Accounts Payable - Retention Billings in excess of Costs and Profits Notes Payable Accrued Payables Accrued Taxes Accrued Vacation Other Current Liabilities TOTAL CURRENT LIABILITIES Long Term Liabilities TOTAL LIABILITIES S 42,650.00 S 3,589.00 S 2,209.00 S 5,462.00 S 3,562.00 S 789.00 $ 7,598.00 S 4,230.00 $ 70,089.00 $ 62,215.00 $ 132,304.00 S 37,980.00 S 4,596.00 S 1,068.00 S 7,512.00 S 3,489.00 S 956.00 $ 7,985.00 $ 5,356.00 68,942.00 S 64,048.00 $ 132,990.00 les OWNER'S EQUITY Capital Stock Retained Earnings Current Period Net Income TOTAL EQUITY TOTAL LIABILITIES AND EQUITY S 12,500.00 $ 53,560.00 S S 66,060.00 $ 198,364.00 S 12,500.00 S 34,508.00 $ S 47,008.00 $ 179,998.00 REVENUES 956,983.00 CONSTRUCTION COSTS Materials Labor Subcontract Equipment Other TOTAL CONSTRUCTION COSTS $ $ $ $ $ $ 102,356.00 256,350.00 456,320.00 25,646.00 1,935.00 842.607.00 $ $ EQUIPMENT COSTS Rent and Lease Payments Depreciation Repairs and Maintenance Fuel and Lubrication Taxes. Licenses. Insurance Equipment Costs Charged to Job TOTAL EQUIPMENT COSTS 4,593.00 7,255.00 4,236.00 9,136.00 426.00 25,646.00 $ $ $ GROSS PROFIT $ 114,376.00 OVERHEAD $ 82,365.00 NET PROFIT FROM OPERATIONS $ FA 32,011.00 OTHER INCOME AND EXPENSE $ 1,875.00 PROFIT BEFORE TAXES $ $ FA 33,886.00 INCOME TAX $ 5.263.00 PROFIT AFTER TAXES $ 28,623.00 1. From the Shift Construction Balance Sheet and Income Statement, determine the following financial information: Quick Ratio Current Ratio Current Liabilities to Net Worth Debt to Equity Fixed Assets to Net Worth Current Assets to Total Assets Collection Period (w/ retention) Collection Period (w/o retention) Receivable Turns Average Age of Accounts Payable** Payable Turns Assets to Revenues Working Capital Turns Accounts Payable to Revenues Gross Profit Margin General Overhead Pre-Tax Margins After-Tax Margins Return on Assets Pre-Tax Return on Equity After-Tax Return on Equity Degree of Fixed Asset Newness
