Inter 1 Terry Case Template - FSs - Excel Nguyen Linh X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Share Arial - 9 - A A = al Wrap Text General EX AutoSum Fill - AY O Paste BIU - - LA- Merge & Center $ - % " 6.0 .00 .00 .0 Conditional Format as Cell Insert Delete Format Formatting Table * Styles Clear Sort & Find & Filter . Select Clipboard Font Alignment Number Styles Cells Editing E2 X V fx B C D E F G H K L M 23 Administrative Expenses Total PPE $5,022,000 $2,916,000 Cash Flow from Financing 24 Executive Salaries Expense $708,750 Intangible Assets Repayment of Loans ($81,000) 25 Depreciation Expense $972,000 Patents, net $243,000 $243,000 Issuance of Notes Payable $972,000 26 Insurance Expense $314,725 Total Assets $10,787,440 $8,748,000 Payments of Dividends ($270,000) 27 Miscellaneous Admin. Expenses $7,999 Net Cash Flow from Financing $621,000 28 Office Supplies Expense $62,775 Liabilities and Stockholders' Equity 29 Consulting and Legal Fees $10, 125 Current Liabilities Net Increase (Decrease) in Cash $108,000) 30 Utilities Expense $121,500 Accounts Payable $363, 174 $972,000 Cash, January 1, Year 2 $810,000 31 Total Administrative Expenses $2, 197,874 $3,767,047 Income Tax Payable $250,932 $162,000 Cash, December 31, Year 2 $702,000 32 Income from Operations $2,601,841 Unearned Revenue $405,000 $243,000 33 Wages Payable $ 194 400 $202,500 34 Other Gains and Losses Current Portion of Loan Payable $81,000 $81,000 35 Rent Revenue $50,625 Total Current Liabilities $1,294,506 $1,660,500 36 Interest Expense ($103,275) ($52,650) Long-term Debt 37 Income from Continuing Operations before Taxes $2,549, 191 Loan Payable $405,000 $486,000 38 Income Tax Expense ($764,757) Notes Payable $2,268,000 $1,296,000 39 Net Income $1,784,434 Total Long-term Debt $2,673,000 $1,782,000 40 Total Liabilities $3,967,506 $3,442,500 41 EPS $0.94 Stockholders' Equity 42 Common Stock $1,900,000 $1,900,000 43 ($1 par, 5,000,000 authorized, 1,900,000 outstanding) 44 Additional Paid-In Capital $486,000 $486,000 45 Retained Earnings $4,433,934 $2,919,500 46 Total Stockholders' Equity $6,819,934 $5,305,500 47 Total Liabilities and Stockholder's E $10,787,440 $8,748,000 10 Original Financial Statements + Ready Scroll Lock + 94% Type here to search X ENG 6:36 PM 10/14/2020Inter 1 Terry Case Template - FSs - Excel Nguyen Linh X File Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Share Arial - 9 - A A = al Wrap Text General EX AutoSum Fill - AY O Paste BIU - -LA- Sort & Find & E Merge & Center $ - % " 6.0 .00 .00 .0 Conditional Format as Cell Insert Delete Format Formatting Table * Styles Clear Filter . Select Clipboard Font Alignment Number Styles Cells Editing E2 X Y A B C D E F G H K L M Terry Co. Terry Co. Terry Co. OUT AWN Multi-Step Income Statement Balance Sheet Statement of Cash Flows For Year Ended December 31, 2019 As of December 31 For Year Ended December 31, 2019 Sales Revenue 2019 2018 Cash Flow from Operations Sales Revenue $16,200,000 Assets Net Income $1,784,434 Less: Sales Discounts $194,400 Current Assets Adjustments: 40 00 - Sales Returns $769,500 $963,900 Cash $702,000 $810,000 Change in A/R ($383,940) Net Sales Revenue $15,236, 100 A/R $1,458,000 $1,377,000 Change in Inventory $324,000 Allowance for ($102,060) ($405,000) Change in Prepaid Insurance $59,000 10 Cost of Goods Sold Inventory $1,944,000 $2,268,000 Change in Prepaid Rent ($40,500) 11 Cost of Goods Sold $8,867,212 Prepaid Insurance $184,000 $243,000 Depreciation & Amortization $972,000 12 Gross Profit $6,368,888 Prepaid Ren $202,500 $162,000 Change in A/P ($608,826) 13 Total Current Assets $4,388,440 $4,455,000 Change in Income Tax Payable $88,932 14 Operating Activities Long-term Investments Change in Unearned Revenue $162,000 15 Selling Expenses Loans to other businesses $648,000 $648,000 Change in Wages Payable ($8, 100) $564,566 16 Advertising Expense $303,750 Expansion Fund $486,000 $486,000 Net Cash Flow from Operations $2,349,000 17 Bad Debt Expense $21,060 Total Long-term Investments $1, 134,000 $1, 134,000 18 Miscellaneous Selling Expenses $78,975 PPE Cash Flow from Investments 19 Sales Force Salaries Expense $222,750 Land $1,782,000 $1, 134,000 Purchase of Land ($648,000) 20 Selling Commissions Expense $810,000 Building $1,296,000 $1,296,000 Purchase of Equipment ($2,430,000) 21 Shipping Expense $132,638 Equipment $4,536,000 $2, 106,000 Net Cash Flow from Investments ($3,078,000) 22 $1,569, 173 Accumulated Depreciation $2,592,000) ($1,620,000) 23 Administrative Expenses Total PPE $5,022,000 $2,916,000 Cash Flow from Financing 24 Executive Salaries Expense $708,750 Intangible Assets Repayment of Loans ($81,000) 25 Depreciation Expense $972,000 Patents, net $243,000 $243,000 Issuance of Notes Payable $972,000 Original Financial Statements + Ready Scroll Lock + 94% Type here to search X ENG 6:35 PM 10/14/2020