Question
Banfield, Inc. Comparative Balance Sheet December 31, 2018 and 2017 2018 2017 2016* Assets Current Assets: Cash $90,000 $89,000 Accounts Receivables, Net 111,000 114,000 $105,000
Banfield, Inc. | |||||
Comparative Balance Sheet | |||||
December 31, 2018 and 2017 | |||||
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| 2018 | 2017 | 2016* |
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| Assets |
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| Current Assets: |
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| Cash | $90,000 | $89,000 |
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| Accounts Receivables, Net | 111,000 | 114,000 | $105,000 |
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| Merchandise Inventory | 149,000 | 162,000 | 210,000 |
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| Prepaid Expenses | 16,000 | 8,000 |
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| Total Current Assets | 366,000 | 373,000 |
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| Property, Plant, and Equipment, Net | 220,000 | 173,000 |
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| Total Assets | $586,000 | $546,000 | $600,000 |
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| Liabilities |
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| Total Current Liabilities | $227,000 | $246,000 |
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| Long-term Liabilities | 120,000 | 97,000 |
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| Total Liabilities | 347,000 | 343,000 |
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| Stockholders' Equity |
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| Preferred Stock, 5% | 110,000 | 110,000 |
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| Common Stockholders' Equity, no par | 129,000 | 93,000 | 88,000 |
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| Total Liabilities and Stockholders' Equity | $586,000 | $546,000 |
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Banfield, Inc. | ||||
Comparative Income Statement | ||||
Years Ended December 31, 2018 and 2017 | ||||
| 2018 | 2017 | ||
Net Sales Revenue | $464,000 | $428,000 | ||
Cost of Goods Sold | 241,000 | 218,000 | ||
Gross Profit | 223,000 | 210,000 | ||
Operating Expenses | 138,000 | 136,000 | ||
Income From Operations | 85,000 | 74,000 | ||
Interest Expense | 14,000 | 15,000 | ||
Income Before Income Tax | 71,000 | 59,000 | ||
Income Tax Expense | 20,000 | 26,000 | ||
Net Income | $51,000 | $33,000 |
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