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The Fir APPLY YOUR KNOWLEDGE Serial Case C1-74 Analyze basic financial statement information (Learning Objectives 3, 4) Note: This mini-case is the first part of The Cheesecake Factory serial case contained in every chapter in this texthook The Cheesecake Factory Incorporated (NASDAQ: CAKE) was started by Evelyn Overton when she sold cheesecakes from her basement 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 currently has 185 restaurants and two bakery facilities. Its fiscal year end is the Tuesday closest to December 31 cach 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 Income (Adapted for Educational Use) For Year Ended January 3, 2017 fn chousands) Revenues Costs and expenses 5 2.275,719 Cost of sales 526.628 59.998 8,010 700,090 Labor expenses Depreciation and amortization expense Other expenses Tatal costs and expenses 200,993 Income from operations interest and cther expense, net Income before income taxes Income tax expense Net income 52274 Note Information presented here should not be used for inivestment decisions Data from the U.S. Secarities and Exwhange Comsson EDGAR Compaay Filings, www.sec gw The Cheesecake Factory Incorporated Statement of Retained Earnings (Adapted for Educational Use) For Year Ended January 3, 2017 fin thousands Retained earnings balance, 1/29/2015 $ 1,140,788 139494 Add: Net income Less: Dividends declared Retained earnings balance, 1/3/2017 270 Note: Information presented here should not be used for inwestment decisions. Data from the U.S. Securities and Exchange Commission EDGAR Company Filngs, www.ecg hren adarted and condensed for educational use and sh The Cheesecake Factory Incorporated Consolidated Balance Sheet (adapted For Educational Use) As of January 3, 2017 n thousands Assets Curreent assets: Cash and cash equivalents Accounts receivable 15,632 Income tax recevable Other receivables 64,592 34 926 Prepaid expenses Total current assets 910,134 Property and equipment net Other assets: Intangible assets, net Prepaid rent Other assets 23,054 42.162 96,542 Total other assets Total assets Liabilities and Stockholders' Equity Current liabilities 41.564 334.962 5 Accounts payable Other accrued expenses Total current lisbiities 313.586 Nancurent liabilities Stockholder's equity Preferred stock Common stock Additional paid in capital Retained earnings Treasury stock 947 774,137 1,238,012 1,409 Total stockholder's equity Total liabilities and stockholder's equity Note: Information presented here should not be used for investment decisions Duta from the U.S Secarities and Exchange Consuission EDGAR Compuny Filins www.see.gow The Cheesecake Factory Incorporated Statement of Cash Flows (Adapted for Educational Use) For Year Ended January 3, 2017 fin thousands) $ 302.520 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 (159,461) 5 9,985 5 53,839 Note information presented here should not be used for nvestment decisions. Data froes the U.S. Secutities and Exchange Commission EDGAR Company Filings, www.sec.gow n he found on its in The Fnancial Statements 55 Requirements 1. What form of business organization is The Cheesecake Factory? How do you know? 2. Identify what line item flows from the income statement to the statement of retained earnings 3. Identify the line item that flows from the statement of retained camings to the balance sheet. 4. Identify the line item that flows from the statement of cash flows to the balance sheet. 5. Did The Cheesecake Factory have net income or net loss for its fiscal year 20 53,839 16? (The Cheesecake Factory's 2016 fiscal year end is January 3,2017.) Over what period of time was this amount earned? 64,592 4926 6. Write The Cheesecake Factory's accounting equation as of January 3, 2017. 7. How much in total resources does The Cheesecake Factory have to work with at Jansary 3, 2017? How much does The Cheesecake Factory owe to creditors at January 3, 2017! The Fina Requirements 1. What form of business organization is The Cheesecake Factory? How do you know? 2. Identify what line item flows from the income statement to the statement of retained earnings 3. Identify the line item that flows from the statement of retained earnings to the balance sheet. 4. Identify the line item that flows from the statement of cash flows to the balance sheet. 5. Did The Cheesecake Factory have net income or net loss for its fiscal year 2016? (The Cheesecake Factory's 2016 fiscal year end is January 3, 2017.) Over what period of time was this amount earned? 6. Write The Cheesecake Factory's accounting equation as of January 3, 2017 7. How much in total resources does The Cheesecake Factory have to work with at January 3, 2017? How much does The Cheesecake Factory owe to creditors at January 3, 2017? The Fir APPLY YOUR KNOWLEDGE Serial Case C1-74 Analyze basic financial statement information (Learning Objectives 3, 4) Note: This mini-case is the first part of The Cheesecake Factory serial case contained in every chapter in this texthook The Cheesecake Factory Incorporated (NASDAQ: CAKE) was started by Evelyn Overton when she sold cheesecakes from her basement 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 currently has 185 restaurants and two bakery facilities. Its fiscal year end is the Tuesday closest to December 31 cach 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 Income (Adapted for Educational Use) For Year Ended January 3, 2017 fn chousands) Revenues Costs and expenses 5 2.275,719 Cost of sales 526.628 59.998 8,010 700,090 Labor expenses Depreciation and amortization expense Other expenses Tatal costs and expenses 200,993 Income from operations interest and cther expense, net Income before income taxes Income tax expense Net income 52274 Note Information presented here should not be used for inivestment decisions Data from the U.S. Secarities and Exwhange Comsson EDGAR Compaay Filings, www.sec gw The Cheesecake Factory Incorporated Statement of Retained Earnings (Adapted for Educational Use) For Year Ended January 3, 2017 fin thousands Retained earnings balance, 1/29/2015 $ 1,140,788 139494 Add: Net income Less: Dividends declared Retained earnings balance, 1/3/2017 270 Note: Information presented here should not be used for inwestment decisions. Data from the U.S. Securities and Exchange Commission EDGAR Company Filngs, www.ecg hren adarted and condensed for educational use and sh The Cheesecake Factory Incorporated Consolidated Balance Sheet (adapted For Educational Use) As of January 3, 2017 n thousands Assets Curreent assets: Cash and cash equivalents Accounts receivable 15,632 Income tax recevable Other receivables 64,592 34 926 Prepaid expenses Total current assets 910,134 Property and equipment net Other assets: Intangible assets, net Prepaid rent Other assets 23,054 42.162 96,542 Total other assets Total assets Liabilities and Stockholders' Equity Current liabilities 41.564 334.962 5 Accounts payable Other accrued expenses Total current lisbiities 313.586 Nancurent liabilities Stockholder's equity Preferred stock Common stock Additional paid in capital Retained earnings Treasury stock 947 774,137 1,238,012 1,409 Total stockholder's equity Total liabilities and stockholder's equity Note: Information presented here should not be used for investment decisions Duta from the U.S Secarities and Exchange Consuission EDGAR Compuny Filins www.see.gow The Cheesecake Factory Incorporated Statement of Cash Flows (Adapted for Educational Use) For Year Ended January 3, 2017 fin thousands) $ 302.520 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 (159,461) 5 9,985 5 53,839 Note information presented here should not be used for nvestment decisions. Data froes the U.S. Secutities and Exchange Commission EDGAR Company Filings, www.sec.gow n he found on its in The Fnancial Statements 55 Requirements 1. What form of business organization is The Cheesecake Factory? How do you know? 2. Identify what line item flows from the income statement to the statement of retained earnings 3. Identify the line item that flows from the statement of retained camings to the balance sheet. 4. Identify the line item that flows from the statement of cash flows to the balance sheet. 5. Did The Cheesecake Factory have net income or net loss for its fiscal year 20 53,839 16? (The Cheesecake Factory's 2016 fiscal year end is January 3,2017.) Over what period of time was this amount earned? 64,592 4926 6. Write The Cheesecake Factory's accounting equation as of January 3, 2017. 7. How much in total resources does The Cheesecake Factory have to work with at Jansary 3, 2017? How much does The Cheesecake Factory owe to creditors at January 3, 2017! The Fina Requirements 1. What form of business organization is The Cheesecake Factory? How do you know? 2. Identify what line item flows from the income statement to the statement of retained earnings 3. Identify the line item that flows from the statement of retained earnings to the balance sheet. 4. Identify the line item that flows from the statement of cash flows to the balance sheet. 5. Did The Cheesecake Factory have net income or net loss for its fiscal year 2016? (The Cheesecake Factory's 2016 fiscal year end is January 3, 2017.) Over what period of time was this amount earned? 6. Write The Cheesecake Factory's accounting equation as of January 3, 2017 7. How much in total resources does The Cheesecake Factory have to work with at January 3, 2017? How much does The Cheesecake Factory owe to creditors at January 3, 2017