Krispy Kreme, Inc. (NASDAQ:DNUT) is a multinational doughnut company and coffeehouse chain headquartered in Winston-Salem, North Carolina, United States. It is a publicly held corporation.  Krispy Kreme operates and reports financial information on a 52- or 53-week year with the fiscal year ending on the Sunday closest to December 31. Krispy Kreme's 2021 fiscal year ended January 2, 2022, and its 2020 fiscal year ended January 3, 2021. To follow is a condensed and adapted trial balance as of January 2, 2022, that was constructed from those financial statements. 

 

 

Please note that the accounts have been adapted and condensed for educational use and should not be used for investment decisions. Krispie Kreme's complete, unabridged financial statements can be found on its investor relations website.

 

Questions (calculate each of the following totals using Krispy Kreme's trial balance)

1. 1. Current assets
2. 2. Total assets
3. 3. Current liabilities
4. 4. Total liabilities
5. 5. Net income
6. 6. Ending retained earnings
7. 7. Total stockholders' equity
8. 8. Write Krispy Kreme's accounting equation as of January 2, 2022.
9. 9. What can you conclude from your review of the TB and questions above?
10. 10. Do you have any observations based on your review?
11. 11. Do you have any recommendations based on your observations?

 

Krispy Kreme, Inc. Trial Balance January 2, 2022 (In thousands) Account Cash and cash equivalents* Accounts and notes receivable, net Inventories Other current assets Property, plant, and equipment Debit Credit es 39,192 47,491 34,851 35,363 438,918 Other long-term assets 2,549,439 Accounts payable 182,104 Current portion of long-term debt 36,583 Other current liabilities 307,470 Long-term debt 680,307 Other long-term liabilities 603,135 Common stock 1,673 Additional paid-in capital 1,415,185 Retained earnings (as of January 3, 2020)** 142,198 Other stockholders' equity accounts 97,206 Dividends 11,705 Sales revenue 1,384,391 Cost of sales 354,093 Total Other operating expenses Interest expense (and other income/losses) Income tax expense *Includes restricted cash **Includes a ($1) adjustment 989,196 54,863 10,745 $ 4,708,054 $ 4,708,054