Chill Lemonade Inc - SCENARIO ANALYSIS Statement of Financial Position 2021 2020 2019 2018 COMMENTS: Assets Current Assets Cash $11,158 $11,158 $53,210 $11,066 Accounts Receivable ? 600,000 480,000 410,000 Update as required Inventory 630,000 630,000 420,000 364,000 Prepaid Expenses 102,000 102,000 56,000 162,000 Total Current Assets $743,158 $1,343,158 $1,009,210 $947,066 Capital Assets (net) 1,298,000 1,220,000 1,080,000 Investment in XYZ Corp 0 0 150,000 150,000 Total Assets $743,158 $2,641,158 $2,379,210 $2,177,066 Liabilities Current Liabilities Line of Credit $190,000 $190,000 $184,000 $94,000 Accounts Payable 760,000 760,000 616,000 540,000 Add payable accounts as required Add other current liabilities as required Total Current Liabilities 950,000 950,000 800,000 634,000 Long Term Debt ? 400,000 400,000 400,000 Add other L/T liabilities as required Total Liabilities $- $1,350,000 $1,200,000 $1,034,000 Shareholder's Equity Capital Stock $1,000,000 $1,000,000 $1,000,000 $1,000,000 Retained Earnings ? 291,158 179,210 143,066 Update as required Total Shareholders Equity $1,000,000 $1,291,158 $1,179,210 $1,143,066 Total Liabilities and Shareholder's Equity $1,000,000 $2,641,158 $2,379,210 $2,177,066 Chill Lemonade Inc Statement of Income 2021 2020 2019 2018 Sales $3,704,000 $3,963,280 $3,923,646 Cost of Sales 2,057,944 2,149,620 2,100,158 Gross Profit 1,892,964 1,646,056 1,813,660 1,823,488 add 15% gross profit $246,908 (What is the other part of this journal entry??) Selling, general & admin expenses $1,304,108 $1,304,108 $1,341,516 $1,312,422 Amortization ? 220,000 204,000 196,000 Update as required ? Add expenses as required ? Research & Development 90,000 90,000 176,000 250,000 Repairs 6,000 6,000 6,000 2,000 Salaries 20,000 20,000 50,000 50,000 Total Expenses $1,420,108 $1,640,108 $1,777,516 $1,810,422 Net Income before unusual items $472,856 $5,948 $36,144 $13,066 One-time gain on sale of investment 126,000 0 0 Net Income $472,856 $131,948 $36,144 $13,066 HOW IS NET INCOME AFFECTED? 2021 2020 2019 2018 INDUSTRY BANK COV Current Ratio 1.5 1.2 Quick Ratio D/E Ratio 1.6

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