i have to use the jan-feb
si E CHANGE THE FOLLOWING NUMBERS BASED UPON YOUR COURSE START DATE Jan-Feb Mar-Apr May-Jun Jul-Aug Sept-Oct Nov Dec -117586 Net Income -116586 - 115586 - 114586 -113586 - 112586 247894 248834 Ending Cash Balance 243834 250834 251834 252894 -151626 Ending Retained Earning: -150626 -143626 -148626 -147626 -146626 Depreciation 21354 21354 21354 21354 21354 21354 CASH FLOY STATEMENT Balance Sheeto Net income December 31, December 31, Adjustments to reconcile not income to net in thousands) 2016 2017 cash provided by operating activities Asorts Depreciation Cach $631,375 $ 247.834 Grode sccounts receivable Gross accounts receivable $ 2,178 $ 35,243 Les Allowance for doubtful accounts Lees: Allowance for doubtful accounts $ (1.531) (4.733) Prepaid expenses Prepaid expenses $ 1,219 $ 11,755 Inventories Inventorit $ 154 $ 12,662 Accounto pooble Gross property, plant, and equipment S411,506 $ 353,736 Accrued solaries and wages Less: Accumulated depreciation (21,736) $ (86,512) Accrued interest on long-term debt Pre-opening expche $ 10,677 $ Other sccrued liabilities Other operating costs $ 21,116 $ 26,601 Construction payable Total sete 11,115,498 1 1136,712 Current maturitice, long-term debt Liabilities and Stockholders' Equity Met cash provided by operating activities Accounts payable 4,022 14,101 Investing activiti Accrued orice und wag $ 345 $ 0.134 Groso property, plant, and equipment Accrued intercoton long debt $ 3,423 $ 2.472 Led Accumulsted depreciation Other vendit $ 3.744 33,502 Pre-opening sponde Construction pwoble $ 32,256 $36.046 Other operating sets Current moturit, long term dubt 9 $ 1,575 Net.casadorinteting activitisa Totalcibilitia $ 56,736 $ 169,766 Financing activities Batched rave 1 10,784 Demed revenues Long-term debt $ 413,000 $461,427 Long-term debt Totul biti: $ 523,736 $ 655,577 Common stoch Contoh sock 3 1 506 Capital in excess of par vals Capital in excess of por value 583,627 $662,365 Net Cas pretided by Financing Activities Common stock inte $ 23,450 $ 23,430 Net Cask Elex Resid caring. (deficit 5 (34,040) 5 (151.626) Beginning Cash Balance Totul stockholders' equity 1 585,762 $540,735 Totilistico dequity Ending Cash Balance $ 1,115,458 $ 1.136,712 405 The income statement for the year ended December 31, 2017, as well as the balance sheets as of December 31, 2017. and December 31, 2016. for Loy Lady Inc. 16low: This information is taken from the financial statements of a real company whose name has been disguised Income Statement For the Year Ended December 31, 2017 $26,702 2,8971 22351 5,068 20,784 57.800 in thousands Revenues Casino Rooms Food and beverage Obat hotell casing Airline Total TV Operating Expense Casing Rooms Food and beverage Other hotelcating Airling Selling. Bervical, and administrative (including bad debt experise dl 53.355) Depreciation expenie Hotel propening experiet Aircraft carrying value adjustment Total operating expenses Operating incomi Noooperating te latest income Icharest expense Other, Det Income before taxe Provision for income Neticom os 9.341 1,016 2.529 5.727 20,599 19.679 8,018 45.130 03.948 161.037 (129,237) 120251 6.590 16 117,586) 0- SKILLS Balance Sheets December 31, 2016 2017 $ 211,305 35.249 (4.733) 11.755 12,662 266,238 953,796 (86,512) -0 26,601 $1,160,123 $579.963 2,178 (1,591) 1,219 154 581,983 471,506 21.796) 10.627 21.116 $1,063,456 in thousands Assets Cash Gross accounts receivable Less: Allowance for doubtful accounts Prepaid expenses Inventories Total current assets Gross property, plant, and equipment Less: Accumulated depreciation Pre-opening expenses Other operating assets Total assets Liabilities and Stockholders' Equity Accounts payable Accrued salaries and wages Accrued interest on long-term debe Other accrued abilities Construction payables Current matunties, capital leases Current maturities, long-term debt Total curent liabilities Dezeted reveries Deferred income taxes Long-term obligation, capital lesen Long-term debet Total liabilities Common ttock Capital in extobis of par value Common stoc an treasury Retained earnings dficit) Total stockholderi' equity Totabilites and equity SH 14181 8,194 9.472 53,502 96,344 1.830 1.573 165,598 10.754 6,511 14.0414 261,427 678.368 500 662.865 (29,290) 151.626 1481.735 $1,160,103 31114,322 915 9,429 9.744 32,298 99 0 57,023 -0- 6.317 18A 1473.000 536.701 LES 599.827 129,490 134.010) 526 $1.063,86 page 1055 Additional Information and Author Notes: Aircraft valuation adjustment. The company reduced the book value of its aircraft and related equipment to their expected recoverable values and recognized an aircraft carrying value adjustment in the 2017 income statement(Author Note: You may treat this item as "extra" depreciation recorded during the year due to abnormal decline in the asset value] Property, plant, and equipment Includes land, buildings, aircraft equipment, furniture and fixture, equipment under capital lease, and so on. During 2017, the company acquired equipment under capital leases for $16,987,000. The company also sold equipment with a net book value of $2,501,000 for 5684 000 cash (Author Nore. The gain or loss on this sale is combined with some other item in the income statement Any other change in the gross book value of Property, plant, and equipment may be attributed to outright purchase of other equipment and building construction costs] Capital lease and long-term liabilities (Author Nore. When preparing the cash flow statement, you may find it convenient to combine the current and long-term portions of each of these liabilities] Pre-opening expenser Pre-opening expenses include direct project tataries, advertising, and other pre-opening service! incurred during the pre-opening period of the Lucky Lady Hotel Sach expenses were expensed upon opening the facility Stock offering. The increases in Common stock and Capital in excess of par accounts are due to a common stock offering completed on August 17, 2017 Laundry loan: On June 16, 2017, the company obtained a $10,000,000 loan from a financial institution for a laundry facility in North Las Vegas, Nevada Al of December 31, 2017, 510,000,000 has been drawn down under the loan. Construction of the facility was completed in December 2017. The laundry provides the laundry and dry cleaning services for the Lucky Lady Hotel Required: Using the indirect method, prepare the statement of cash flows for the year ended December 31, 2017 in as much detail as possible. For example, borrowing and repayment, if any, should be shown separately as financing inflow and outflow, respectively Similarly, to the extent that information is available, separately disclose and explain the changes to each asiet and each liability account that affected Lucky Lady't cash flow during 2017 4:56 Cash Flow Statement Student Input Sheet Of G . fx DANGE THE FOLLOWING NUMBERS BASED UPON YOUR COORDAT 16 ON | Fredag - 2018 BER RE 1 Les order 5 1 ISH L SWT 5 3 les 23 5 1 1 MI HE L. crude Other my Current ME 1 1 1 5 1250 3 5 152 S. Deler 5 4. NES 5 1 ch Cew 22.00 1 3 LILIT Sheet1 Sheet2 + CIT and other pre-opening services incurred during the pre-opening period of the Lucky Lady Hotel. Such expenses were expensed upon opening the facility. Stock offering: The increases in Common stock and Capital in excess of par accounts are due to a common stock offering completed on August 17, 2017. Laundry loan: On June 16, 2017, the company obtained a $10,000,000 loan from a financial institution for a laundry facility in North Las Vegas, Nevada. As of December 31, 2017, $10,000,000 has been drawn down under the loan. Construction of the facility was completed in December 2017. The laundry provides the laundry and dry cleaning services for the Lucky Lady Hotel Required: Using the indirect method, prepare the statement of cash flows for the year ended December 31, 2017, in as much detail as possible. For example, borrowing and repayment, if any, should be shown separately as financing inflow and outflow, respectively. Similarly, to the extent that information is available, separately disclose and explain the changes to each asset and cach liability account that affected Lucky Lady's cash flows during 2017 Property, plant, and equipment: Includes land, buildings, aircraft equipment, furniture and fixture, equipment under capital lease, and so on. During 2017, the company acquired equipment under capital leases for $16,987,000. The company also sold equipment with a net book value of $2,501,000 for $684,000 cash. [Author Note: The gain or loss on this sale is combined with some other item in the income statement. Any other change in the gross book value of Property, plant, and equipment may be attributed to outright purchase of other equipment and building construction costs.] Capital lease and long-term liabilities: [Author Note: When preparing the cash flow statement, you may find it convenient to combine the current and long-term portions of each of these liabilities.] Pre-opening expenses: Pre-opening expenses include direct project salaries, advertising, and other pre-opening services incurred during the pre-opening period of the Lucky Lady Hotel. Such expenses were expensed upon opening the facility. Stock offering: The increases in Common stock and Capital in excess of par accounts are due to a common stock offering 662.365 589.827 (29,490) (29.490) (151,626) (34.040) Capital in excess of par value Common stock in treasury Retained earnings (deficit) Total stockholders' equity Total liabilities and equity 481.755 526,782 $1,160,123 $1.063.486 Additional Information and Author page 1055 Notes: Aircraft valuation adjustment: The company reduced the book value of its aircraft and related equipment to their expected recoverable values and recognized an aircraft carrying value adjustment in the 2017 income statement. (Author Note: You may treat this item as "extra" depreciation recorded during the year due to abnormal decline in the asset value.] Property, plant, and equipment: Includes land, buildings, aircraft equipment, furniture and fixture, equipment under capital lease, and so on. During 2017, the company acquired equipment under capital leases for $16,987,000. The company also sold $ 14,181 $ 4.322 8,194 945 9.472 9.429 33,502 9,744 96,844 32.296 1.830 289 1.573 Accounts payable Accrued salaries and wages Accrued interest on long-term debt Other accrued liabilities Construction payables Current maturities, capital leases Current maturities, long- term debt Total current liabilities Deferred revenues Deferred income taxes Long-term obligation, capital leases Long-term debt Total liabilities Common stock Capital in excess of par value 165,596 57,025 10.784 6,517 6.517 14.044 162 481.427 678,368 473.000 536,704 506 662,365 485 589,827 Balance Sheets December 31, 2016 2017 ($ in thousands) Assets Cash $ 211.305 $ 579,963 2,178 (1,531) 1.219 154 581,983 471,506 Gross accounts 35,249 receivable Less: Allowance (4.733) for doubtful accounts Prepaid 11.755 expenses Inventories 12,662 Total current 266,238 assets Gross property, 953.796 plant, and equipment Less: (86,512) Accumulated depreciation Pre-opening expenses Other operating 26,601 assets Total assets $1.160.123 Liabilities and Stockholders' Equity Accounts $ 14,181 payable (21.796) 10.677 21.116 $1.063.486 $ 4.322 8,018 45,130 68,948 bad debt expense of $3,855) Depreciation expense Hotel preopening expenses Aircraft carrying value adjustment Total operating expenses Operating income Nonoperating items: Interest income Interest expense Other, net Income before taxes Provision for income taxes Net income (loss) 181,037 (123.237) 12.231 (6,596) 16 (117,586) $ (117,586) Balance Sheets December 31, 2016 2017 ($ in thousands) Assets Cash $ 211,305 $ 579,963 35.249 2.178 Gross accounts receivable Less: Allowance for doubtful accounts Prepaid (4.733) (1.531) 11.755 1.219 4:51 App Store IN The income statement for the year ended December 31, 2017, as well as the balance sheets as of December 31, 2017, and December 31, 2016, for Lucky Lady Inc. follow. This information is taken from the financial statements of a real company whose name has been disguised. Income Statement For the Year Ended December 31, 2017 $ 26,702 2.897 2,351 5.066 20,784 57.800 ($ in thousands) Revenues Casino Rooms Food and beverage Other hotel/casino Airline Total revenues Operating Expenses Casino Rooms Food and beverage Other hotel/casino Airline Selling, general, and administrative (including 9.341 1,016 2.529 5,777 20,599 19,679 si E CHANGE THE FOLLOWING NUMBERS BASED UPON YOUR COURSE START DATE Jan-Feb Mar-Apr May-Jun Jul-Aug Sept-Oct Nov Dec -117586 Net Income -116586 - 115586 - 114586 -113586 - 112586 247894 248834 Ending Cash Balance 243834 250834 251834 252894 -151626 Ending Retained Earning: -150626 -143626 -148626 -147626 -146626 Depreciation 21354 21354 21354 21354 21354 21354 CASH FLOY STATEMENT Balance Sheeto Net income December 31, December 31, Adjustments to reconcile not income to net in thousands) 2016 2017 cash provided by operating activities Asorts Depreciation Cach $631,375 $ 247.834 Grode sccounts receivable Gross accounts receivable $ 2,178 $ 35,243 Les Allowance for doubtful accounts Lees: Allowance for doubtful accounts $ (1.531) (4.733) Prepaid expenses Prepaid expenses $ 1,219 $ 11,755 Inventories Inventorit $ 154 $ 12,662 Accounto pooble Gross property, plant, and equipment S411,506 $ 353,736 Accrued solaries and wages Less: Accumulated depreciation (21,736) $ (86,512) Accrued interest on long-term debt Pre-opening expche $ 10,677 $ Other sccrued liabilities Other operating costs $ 21,116 $ 26,601 Construction payable Total sete 11,115,498 1 1136,712 Current maturitice, long-term debt Liabilities and Stockholders' Equity Met cash provided by operating activities Accounts payable 4,022 14,101 Investing activiti Accrued orice und wag $ 345 $ 0.134 Groso property, plant, and equipment Accrued intercoton long debt $ 3,423 $ 2.472 Led Accumulsted depreciation Other vendit $ 3.744 33,502 Pre-opening sponde Construction pwoble $ 32,256 $36.046 Other operating sets Current moturit, long term dubt 9 $ 1,575 Net.casadorinteting activitisa Totalcibilitia $ 56,736 $ 169,766 Financing activities Batched rave 1 10,784 Demed revenues Long-term debt $ 413,000 $461,427 Long-term debt Totul biti: $ 523,736 $ 655,577 Common stoch Contoh sock 3 1 506 Capital in excess of par vals Capital in excess of por value 583,627 $662,365 Net Cas pretided by Financing Activities Common stock inte $ 23,450 $ 23,430 Net Cask Elex Resid caring. (deficit 5 (34,040) 5 (151.626) Beginning Cash Balance Totul stockholders' equity 1 585,762 $540,735 Totilistico dequity Ending Cash Balance $ 1,115,458 $ 1.136,712 405 The income statement for the year ended December 31, 2017, as well as the balance sheets as of December 31, 2017. and December 31, 2016. for Loy Lady Inc. 16low: This information is taken from the financial statements of a real company whose name has been disguised Income Statement For the Year Ended December 31, 2017 $26,702 2,8971 22351 5,068 20,784 57.800 in thousands Revenues Casino Rooms Food and beverage Obat hotell casing Airline Total TV Operating Expense Casing Rooms Food and beverage Other hotelcating Airling Selling. Bervical, and administrative (including bad debt experise dl 53.355) Depreciation expenie Hotel propening experiet Aircraft carrying value adjustment Total operating expenses Operating incomi Noooperating te latest income Icharest expense Other, Det Income before taxe Provision for income Neticom os 9.341 1,016 2.529 5.727 20,599 19.679 8,018 45.130 03.948 161.037 (129,237) 120251 6.590 16 117,586) 0- SKILLS Balance Sheets December 31, 2016 2017 $ 211,305 35.249 (4.733) 11.755 12,662 266,238 953,796 (86,512) -0 26,601 $1,160,123 $579.963 2,178 (1,591) 1,219 154 581,983 471,506 21.796) 10.627 21.116 $1,063,456 in thousands Assets Cash Gross accounts receivable Less: Allowance for doubtful accounts Prepaid expenses Inventories Total current assets Gross property, plant, and equipment Less: Accumulated depreciation Pre-opening expenses Other operating assets Total assets Liabilities and Stockholders' Equity Accounts payable Accrued salaries and wages Accrued interest on long-term debe Other accrued abilities Construction payables Current matunties, capital leases Current maturities, long-term debt Total curent liabilities Dezeted reveries Deferred income taxes Long-term obligation, capital lesen Long-term debet Total liabilities Common ttock Capital in extobis of par value Common stoc an treasury Retained earnings dficit) Total stockholderi' equity Totabilites and equity SH 14181 8,194 9.472 53,502 96,344 1.830 1.573 165,598 10.754 6,511 14.0414 261,427 678.368 500 662.865 (29,290) 151.626 1481.735 $1,160,103 31114,322 915 9,429 9.744 32,298 99 0 57,023 -0- 6.317 18A 1473.000 536.701 LES 599.827 129,490 134.010) 526 $1.063,86 page 1055 Additional Information and Author Notes: Aircraft valuation adjustment. The company reduced the book value of its aircraft and related equipment to their expected recoverable values and recognized an aircraft carrying value adjustment in the 2017 income statement(Author Note: You may treat this item as "extra" depreciation recorded during the year due to abnormal decline in the asset value] Property, plant, and equipment Includes land, buildings, aircraft equipment, furniture and fixture, equipment under capital lease, and so on. During 2017, the company acquired equipment under capital leases for $16,987,000. The company also sold equipment with a net book value of $2,501,000 for 5684 000 cash (Author Nore. The gain or loss on this sale is combined with some other item in the income statement Any other change in the gross book value of Property, plant, and equipment may be attributed to outright purchase of other equipment and building construction costs] Capital lease and long-term liabilities (Author Nore. When preparing the cash flow statement, you may find it convenient to combine the current and long-term portions of each of these liabilities] Pre-opening expenser Pre-opening expenses include direct project tataries, advertising, and other pre-opening service! incurred during the pre-opening period of the Lucky Lady Hotel Sach expenses were expensed upon opening the facility Stock offering. The increases in Common stock and Capital in excess of par accounts are due to a common stock offering completed on August 17, 2017 Laundry loan: On June 16, 2017, the company obtained a $10,000,000 loan from a financial institution for a laundry facility in North Las Vegas, Nevada Al of December 31, 2017, 510,000,000 has been drawn down under the loan. Construction of the facility was completed in December 2017. The laundry provides the laundry and dry cleaning services for the Lucky Lady Hotel Required: Using the indirect method, prepare the statement of cash flows for the year ended December 31, 2017 in as much detail as possible. For example, borrowing and repayment, if any, should be shown separately as financing inflow and outflow, respectively Similarly, to the extent that information is available, separately disclose and explain the changes to each asiet and each liability account that affected Lucky Lady't cash flow during 2017 4:56 Cash Flow Statement Student Input Sheet Of G . fx DANGE THE FOLLOWING NUMBERS BASED UPON YOUR COORDAT 16 ON | Fredag - 2018 BER RE 1 Les order 5 1 ISH L SWT 5 3 les 23 5 1 1 MI HE L. crude Other my Current ME 1 1 1 5 1250 3 5 152 S. Deler 5 4. NES 5 1 ch Cew 22.00 1 3 LILIT Sheet1 Sheet2 + CIT and other pre-opening services incurred during the pre-opening period of the Lucky Lady Hotel. Such expenses were expensed upon opening the facility. Stock offering: The increases in Common stock and Capital in excess of par accounts are due to a common stock offering completed on August 17, 2017. Laundry loan: On June 16, 2017, the company obtained a $10,000,000 loan from a financial institution for a laundry facility in North Las Vegas, Nevada. As of December 31, 2017, $10,000,000 has been drawn down under the loan. Construction of the facility was completed in December 2017. The laundry provides the laundry and dry cleaning services for the Lucky Lady Hotel Required: Using the indirect method, prepare the statement of cash flows for the year ended December 31, 2017, in as much detail as possible. For example, borrowing and repayment, if any, should be shown separately as financing inflow and outflow, respectively. Similarly, to the extent that information is available, separately disclose and explain the changes to each asset and cach liability account that affected Lucky Lady's cash flows during 2017 Property, plant, and equipment: Includes land, buildings, aircraft equipment, furniture and fixture, equipment under capital lease, and so on. During 2017, the company acquired equipment under capital leases for $16,987,000. The company also sold equipment with a net book value of $2,501,000 for $684,000 cash. [Author Note: The gain or loss on this sale is combined with some other item in the income statement. Any other change in the gross book value of Property, plant, and equipment may be attributed to outright purchase of other equipment and building construction costs.] Capital lease and long-term liabilities: [Author Note: When preparing the cash flow statement, you may find it convenient to combine the current and long-term portions of each of these liabilities.] Pre-opening expenses: Pre-opening expenses include direct project salaries, advertising, and other pre-opening services incurred during the pre-opening period of the Lucky Lady Hotel. Such expenses were expensed upon opening the facility. Stock offering: The increases in Common stock and Capital in excess of par accounts are due to a common stock offering 662.365 589.827 (29,490) (29.490) (151,626) (34.040) Capital in excess of par value Common stock in treasury Retained earnings (deficit) Total stockholders' equity Total liabilities and equity 481.755 526,782 $1,160,123 $1.063.486 Additional Information and Author page 1055 Notes: Aircraft valuation adjustment: The company reduced the book value of its aircraft and related equipment to their expected recoverable values and recognized an aircraft carrying value adjustment in the 2017 income statement. (Author Note: You may treat this item as "extra" depreciation recorded during the year due to abnormal decline in the asset value.] Property, plant, and equipment: Includes land, buildings, aircraft equipment, furniture and fixture, equipment under capital lease, and so on. During 2017, the company acquired equipment under capital leases for $16,987,000. The company also sold $ 14,181 $ 4.322 8,194 945 9.472 9.429 33,502 9,744 96,844 32.296 1.830 289 1.573 Accounts payable Accrued salaries and wages Accrued interest on long-term debt Other accrued liabilities Construction payables Current maturities, capital leases Current maturities, long- term debt Total current liabilities Deferred revenues Deferred income taxes Long-term obligation, capital leases Long-term debt Total liabilities Common stock Capital in excess of par value 165,596 57,025 10.784 6,517 6.517 14.044 162 481.427 678,368 473.000 536,704 506 662,365 485 589,827 Balance Sheets December 31, 2016 2017 ($ in thousands) Assets Cash $ 211.305 $ 579,963 2,178 (1,531) 1.219 154 581,983 471,506 Gross accounts 35,249 receivable Less: Allowance (4.733) for doubtful accounts Prepaid 11.755 expenses Inventories 12,662 Total current 266,238 assets Gross property, 953.796 plant, and equipment Less: (86,512) Accumulated depreciation Pre-opening expenses Other operating 26,601 assets Total assets $1.160.123 Liabilities and Stockholders' Equity Accounts $ 14,181 payable (21.796) 10.677 21.116 $1.063.486 $ 4.322 8,018 45,130 68,948 bad debt expense of $3,855) Depreciation expense Hotel preopening expenses Aircraft carrying value adjustment Total operating expenses Operating income Nonoperating items: Interest income Interest expense Other, net Income before taxes Provision for income taxes Net income (loss) 181,037 (123.237) 12.231 (6,596) 16 (117,586) $ (117,586) Balance Sheets December 31, 2016 2017 ($ in thousands) Assets Cash $ 211,305 $ 579,963 35.249 2.178 Gross accounts receivable Less: Allowance for doubtful accounts Prepaid (4.733) (1.531) 11.755 1.219 4:51 App Store IN The income statement for the year ended December 31, 2017, as well as the balance sheets as of December 31, 2017, and December 31, 2016, for Lucky Lady Inc. follow. This information is taken from the financial statements of a real company whose name has been disguised. Income Statement For the Year Ended December 31, 2017 $ 26,702 2.897 2,351 5.066 20,784 57.800 ($ in thousands) Revenues Casino Rooms Food and beverage Other hotel/casino Airline Total revenues Operating Expenses Casino Rooms Food and beverage Other hotel/casino Airline Selling, general, and administrative (including 9.341 1,016 2.529 5,777 20,599 19,679
