Excel File Edit View Insert Format Tools Data Window Help Cut Paste Copy Format Calibri (Body) BIU 9 A- A = Inter 2 Terry Case Template - UPDATED Version Wrap Text General Merge & Center $ - %> .0 .00 .0 Conditional Format Cell Formatting as Table Styles Insert Delete Format Open recovered workbooks? Your recent changes were saved. Do you want to continue working where you left off? Office Update To keep up-to-date with security updates, fixes, and improvements, choose Check for Updates. AA15 fx Fri Feb 5 1:58 PM Q Search Sheet Autosum Fill Clear 27.9. Sort & Find & Filter Select Yes No Check for Updates A D E F H 1 2 Multi-Step Income Statement For the Year Ended December 31, Year 3 4 Sales Revenue 5 Sales Revenue 6 Less: Sales Discounts 7 Sales Returns Net Sales Revenue $72,700,000 $799,700 $6,361,250 $7,160,950 $65,539,050 Current Assets Cash A/R Change in Inventory 9 10 Cost of Goods Sold 11 Cost of Goods Sold $39,880,221 12 Gross Profit 13 14 15 Operating Activities $25,658,829 Allowance for Bad Debts Inventory Prepaid Insurance Prepaid Utilities Total Current Assets Long-term Investments $23,028,240 $19,992,500 16 17 Selling Expenses 18 Advertising Expense $1,423,125 19 Bad Debt Expense $617,950 Loans to other businesses Total Long-term Investments PPE 20 Miscellaneous Selling Expenses $354,413 Land 21 Sales Force Salaries Expense $999,625 Building 22 Selling Commissions Expense $3,635,000 Equipment 23 Shipping Expense $595,231 24 Total Selling Expenses $7,625,344 Accumulated Depreciation Total PPE $2,908,000 $2,908,000 $2,908,000 $2,908,000 $7,997,000 $5,089,000 $5,816,000 $5,816,000 $20,356,000 $9,451,000 ($9,451,000) ($7,270,000) $24,718,000 $13,086,000 25 Administrative Expenses Intangible Assets 26 Executive Salaries Expense $3,180,625 Patents, net Depreciation & Amortization Expense $2,181,000 Total Assets $1,090,500 $51,744,740 $1,090,500 $37,077,000 28 Insurance Expense $263,538 Amortization of Bond Premium Change in Est. Coupon Liab. Change in Income Tax Payable Change in Interest Payable Change in Unearned Revenue Change in Wages Payable Net Cash Flow from Operations Cash Flow from Investments Purchase of Land Purchase of Equipment Net Cash Flow from Investments Cash Flow from Financing Repayment of Loans Issuance of Bonds Payable Issuance of Notes Payable $2,181,000 $60,000 $1,792,369 $43,313 $145,400 ($109,050) $3,471,379 $11,105,000 ($2,908,000) ($10,905,000) ($13,813,000) Balance Sheet As of 12/31/Year 3 Statement of Cash Flows For Year Ended 12/31/Year 3 Year 3 Year 2 Cash Flow from Operations Assets Net Income $7,633,621 Adjustments: updted $6,670,740 $3,635,000 $6,543,000 $6,179,500 ($363,500) ($1,817,500) $8,724,000 $10,178,000 Change in A/R ($1,817,500) $1,454,000 debt 0.925 current 2.633 L M N P a debt to Equit Current 0.851 2.42 Date Desc Aug 1st cash 0.176 Bon prem Inter Inter Change in Prepaid Insurance Change in Prepaid Rent $545,250 0.172 ($181,750) $545,250 $908,750 $1,090,500 $727,000 Depreciation & Amortization Change in A/P ($638,866) ($2,787) 30 Miscellaneous Admin. Expenses Office Supplies Expense $35,896 $281,713 Liabilities and Stockholders' Equity Payments of Dividends Current Liabilities Net Cash Flow from Financing 32 R&D Expense $1,090,500 Accounts Payable 33 Utilities Expense $545,250 Estimated Liab. for Coupons 34 Total Administrative Expenses $7,578,522 $15,203,866 Income Tax Payable 35 Interest Payable 36 Income from Operations $10,454,963 Unearned Revenue $3,723,134 $60,000 $2,519,369 $43,313 $1,235,900 $4,362,000 $0 $727,000 $0 $1,090,500 Net Increase (Decrease) in Cash Cash, January 1, Year 3 Cash, December 31, Year 3 ($363,500) $1,945,240 $4,362,000 Critical Thinking #1 ($200,000) $5,743,740 $3,035,740 $3,635,000 $6,670,740 Wages Payable 38 Other Gains and Losses Interest Expense Current Portion of Loan Payable $799,700 $363,500 $908,750 $363,500 39 Rent Revenue $227,188 40 ($503,989) 41 Income from Continuing Operations before Taxes 43 Income Tax Expense 44 Net Income 45 46 EPS 47 Total Current Liabilities $8,744,916 $7,451,750 Long-term Debt Bonds Payable, Net Total Long-term Debt 49 51 52 53 54 Student Template + Retained Earnings Accumulated OCI Total Stockholders' Equity ($276,801) $10,178,162 ($2,544,541) $7,633,621 $2.62 Loan Payable Notes Payable Total Liabilities Stockholders' Equity Common stock $2,910,000 $2,910,000 ($1 par, 5,100,000 authorized, 2,910,000 outstanding) Additional Paid-In capital $2,181,000 $2,181,000 $26,078,937 Critical Thinking #2 $3,998,500 $4,362,000 $1,942,453 $0 $10,178,000 $5,816,000 $16,118,953 $10,178,000 $24,863,869 $17,629,750 Total Liabilities and Stockholder's E $51,744,740 $18,645,316 ($4,289,066) ($4,289,066) $26,880,871 $19,447,250 $37,077,000 Calculations (Please keep your work in these columns) debt to equit 22888234/ 26911266 0.851 current ROA 21083000/ 7664016/ 8711734 43438250 2.42 0.176 updated debt current 2486 2302 + 95%