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Income Statement Dec-21 Jan-22 Feb-22 Balance Sheet Dec-21 Jan-22 Feb-22 Installation Revenue 8,398.00 12,746.00 15,287.00 Cash 42,837 41,827 38,719 Fabrication Revenue 22,000.00 23,948.00 24,002.00 Accounts
Income Statement | Dec-21 | Jan-22 | Feb-22 | Balance Sheet | Dec-21 | Jan-22 | Feb-22 | ||
Installation Revenue | 8,398.00 | 12,746.00 | 15,287.00 | Cash | 42,837 | 41,827 | 38,719 | ||
Fabrication Revenue | 22,000.00 | 23,948.00 | 24,002.00 | Accounts Receivable | 15,262 | 19,287 | 21,263 | ||
Total Revenue | 30,398.00 | 36,694.00 | 39,289.00 | Total Current Assets | 58,099 | 61,114 | 59,982 | ||
Contract Labor | 5,039.00 | 9,050.00 | 11,007.00 | Other Assets | 23,000 | 23,000 | 23,000 | ||
Materials | 6,600.00 | 7,184.00 | 7,201.00 | ||||||
Other COS | 1,100.00 | 1,197.00 | 1,200.00 | Total Assets | 81,099 | 84,114 | 82,982 | ||
Total COS | 12,739.00 | 17,431.00 | 19,408.00 | ||||||
Accounts Payable | 7,362 | 8,172 | 7,901 | ||||||
Gross Profit | 17,659.00 | 19,263.00 | 19,881.00 | Credit Cards | 2,536 | 2,763 | 2,981 | ||
Gross Profit % | 58.1% | 52.5% | 50.6% | Line of Credit | 5,000 | 5,000 | 5,000 | ||
Total Current Liabilities | 14,898 | 15,935 | 15,882 | ||||||
Administrative Salaries | 3,666.00 | 3,666.00 | 3,666.00 | ||||||
Professional Fees | 750.00 | 750.00 | 750.00 | Other Liabilities | 18,000 | 18,000 | 18,000 | ||
Marketing | 6,688.00 | 7,339.00 | 5,893.00 | ||||||
Travel | 1,500.00 | 1,623.00 | 1,428.00 | Total Liabilities | 32,898 | 33,935 | 33,882 | ||
Rent / Utilities | 2,200.00 | 2,205.00 | 2,202.00 | ||||||
Other SG&A | 912.00 | 1,101.00 | 1,179.00 | Equity | 48,201 | 50,179 | 49,100 | ||
Total SG&A | 15,716.00 | 16,684.00 | 15,118.00 | ||||||
Total Liabilities and Equity | 81,099 | 84,114 | 82,982 | ||||||
Net Income | 1,943.00 | 2,579.00 | 4,763.00 | ||||||
The financial statements above belong to your client, Comfy Inc., a custom furniture manufacturer. review Comfy's financial statements and draft 3-5 bullet points summarizing key takeaways would want to communicate to Comfy's management team to give them a sense of how well their business performed in February. Consider including any big wins, trends see in the numbers, suggestions to improve performance, etc. | |||||||||
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