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The Fa APPLY YOUR KNOWLEDGE Serial Case C1-74 Analyze basic finoncial statement information (Learning Objectives 3, 4) Note: This mini-case is the first poart of The Cheesecake Factory serial case contained in every chapter in this textbook The Cheesecake Fuctory Incorporated (NASDAQ: CAKE) was started by Evelyn Overton when she sold cheesecakes from her hasement in Detroit in the 1940s Its first restaurant opened in Beverly Hills in 1978, Cheesecake Factory has been a publicly held corporation since 1993 and curremty has 185 restaurants and two bakery facilities. Its fiscal year end is the Tuesday closest to December 31 each year To follow are Cheesecake Factory's four basic financial statements for its most recent year, the year ending January 3, 2017 The Cheesecake Factory Incorporated Consolidated Statement of Iincome (Adapted for Educational Use) For Year Ended January 3, 2017 n housands Revenues Costs and expenses s 2.275,719 526,628 T59,993 88.010 00,050 1074 726 200.993 Cost of sales Labor expenses Depreciation and emortizetion expense Other expenses Total costs and expenses Income from operations Interest and other expense, net Income before income taxes income tax expense Net income 191,763 Mote: Ioformatian presented here should not be used for investment decisions Dala from the U.S Securities and ExchaneComission EDGAR Compny Piings, www sec.pos The Cheesecake Factory Incorporated Statement of Retained Earnings (Adapted for Educational Use) For Year Ended January 3, 2017 in thousands Retained earnings balance, 12/29/2015 $ 1,140,788 139,494 Add: Net income Less: Dividends declared Retained earnings balance, 1/3/2017 Note: infarmation presented here should not be used for investment decisions. Daa from the U.S. Secunitics and Eschnge Comnission EDGAR Compony Flings www..gow onted and condensed for educational use and shoul The Cheesecake Factory Incerporated Consolidated Balance Sheet (Adapted for Educational Use) As of January 3, 2017 fin thousands) Assets Corrent assets Cash and cash equivalents Accounts recevabie Income tax recevable Other receivables Imventories Prepaid expenses 5 53,839 15,632 64,592 34926 52438 Total current assets 910.13 Property and equipment net Other assets: Intangible assets, net Prepaid rent Other assets 23,054 42162 Total other assers Total assets Liabilities and Stockholders' Equity Current liabilities 5 41.564 Accounts payable Other accrued expenses Total current liabilities 313,586 Noncurrent liabilities Stockholder's equity Preferred stock Common stock Additional paid-in capital Retained earnings Treasury stock 947 774,137 1,238012 603 207 S 1,293,319 Total stockholder's equity Total Babilities and stockholder's equity Note: Information presented here should not be used for inwestment decisions ps Data from the U.S. Securities and Exchange Commission EDGAR Company Filings, www.se. The Cheesecake Factory Incorporated Statement of Cash Flows (Adapted for Educational Use) For Year Ended January 3, 2017 in theusands) $ 302.520 (159,461) Cash flows provided by operating activities Cash flows used in investing activities Cash flows used by financing activities Net change in cash and cash equivalents Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period 9,985 43,854 3,839 Note, Information presented here should not be used for investment decisions. s. Secrities and Exchange Commission EDGIAR Company Filings www.sec pow tory's comulete, unabridged financial statements can be found on its invest APPLY YOUR KNOWLEDGE Serial Case C5-74. (Learning Objective 4: Analyze accounts receivable for a company in the restaurant industry) Note: This case is part of The Cheesecake Factory serial case contained in every chapter in this textbook The Cheesecake Factory Incorporated (NASDAQ: CAKE) operates two bakeries in the United States where it makes over 70 desserts for its own restaurants. In addition, the Cheesecake Factory bakeries sell selected desserts to a variety of foodservice operators and retailers, including Sam's Club, Walmart, Target, BJ's Wholesale Club, and Barnes & Noble Cafs. The Cheesecake Factory has accounts receivable on its financial statements. The primary source of its accounts receivable is its sales to bakery customers Requirements 1. Identify the financial statement where The Cheesecake Factory accounts receivable would be found. What is the balance of The Cheesecake Factory's accounts receivable as of January 3, 2017? Did its accounts receivable balance increase or decrease since its 2015 fiscal year? 2. Assume that BJ's Wholesale Club places an order with The Cheesecake Factory bakery for 1,000 Cheesecake Factory Original Cheesecakes on account (FOB shipping point) for a total cost of $7,500. No discount was offered for early payment. Write the journal entry if any, which would be made on each of the following dates by The Cheesecake Factory (ignore the cost of sales journal entry here): a. Order date b. Shipment date c. Payment date 3. How will The Cheesecake Factory's assets, liabilities, and equity be impacted on each of the previous dates related to BJ's Wholesale Club order