Q1 -		Financial Statement
			Balance Sheet									Income Statement						2022	2021
															2022		Sales	8,000,000
		Assets		Liability and Equity									Sales				COG(% of sales)	75%
		2021	2022	2021	2022												SG&A	900,000
Cash		200,000		100,000	1,100,000		Payables
receivable			1,000,000	50,000	150,000		Notes
Inventory		250,000	750,000														1Short Term Notes	150,000	50,000
						1,250,000											2Debt (long term) Issued (borrowed)	850,000	0
																	Interest Rate (Short and Long term)	15.00%
					850,000		long term debts										Issued share price	40	20
				300,000	1,600,000		Common Stock										1Shares Issued	40,000	15,000
													Net Income				Cash		200,000
																	Receivable	1,000,000	0
																	Inventory	750,000	250,000
	Total Assets	450,000		450,000		Total Liability and Equity						Statement of Cash Flows					Payables	1,100,000	100,000
														Net Income			3Property, Plant & Equipment (PPE)	2,500,000	0
																	3Depreciation	25%
																	Current Taxes (paid)	75,000
																	Dividend paid	25,000
																	1- newly issued every year
																	2 - Long term debt
														Cash Flow from Operation			3 - bought that year, depreciated straight line to zero value
														Cash Flow from Investment

* 1. The Skywalker Corporation has incorporated and started operations in 2021; it went public in 2022 with a common stock offering. The following financial information has been gathered on the last day of the year, December 31, 2022. 2 - Long term debt 3 - bought that year, depreciated straight line to zero value You may find it better to do this exercise in Excel. The data and the initial model financial statements are provided in an Excel file. The model has a lot of missing components; you need to complete it while you add the data. Prepare the Skywalker Corporation financial statements. The balance sheet basic structure and a partial income statement are given in Excel file. You need to finish the income statement to obtain the 2022 retained earnings. Similarly, you need the cash flow statement to get the 2022 cash level. Interest on short term debt is the same as for long term debt. * 1. The Skywalker Corporation has incorporated and started operations in 2021; it went public in 2022 with a common stock offering. The following financial information has been gathered on the last day of the year, December 31, 2022. 2 - Long term debt 3 - bought that year, depreciated straight line to zero value You may find it better to do this exercise in Excel. The data and the initial model financial statements are provided in an Excel file. The model has a lot of missing components; you need to complete it while you add the data. Prepare the Skywalker Corporation financial statements. The balance sheet basic structure and a partial income statement are given in Excel file. You need to finish the income statement to obtain the 2022 retained earnings. Similarly, you need the cash flow statement to get the 2022 cash level. Interest on short term debt is the same as for long term debt