Question 1

Complete the Income statement with appropriate design including border, underline.

Put the statement in the Answer_Sheet

Gross Profit = Sales Cost of Goods Sold

Total Operating Expense = Selling, general and adm. Expenses+ Depreciation and amortization

Operating profit = Gross Profit - Total Operating Expense

Taxable Income = Operating profit- Interest expense

Income Taxes = Tax rate * taxable Income

Net income = Taxable Income - Income Taxes

Income Statements
	2004	2005	2006	2007
Sales	$200,000	$200,000	$260,000	$240,000
Cost of goods sold	120,262	129,100	154,179	165,264
Gross profit
Selling, general and adm. expenses	19,438	18,095	10,394	22,734
Depreciation and amortization	9,177	9,291	14,152	15,769
Total Operating Expense	28,615	27,386	24,546	38,503
Operating profit
Interest expense	196	177	11,980	0
Taxable Income
Income Taxes (40%)
Net income

Question 2

Q2a

Create 01 chart (Column style) showing:

Accounts payable

Inventories

Other current assets

each year for the period 2010-2013

Chart Title Question 2

Put the chart (only) to the Answer_Sheet

Q2b

Create 01 chart showing:

Cash (Column style)

Accounts payables (Line style)

Income Statement for ABC company
	2010	2011	2012	2013
Sales	$139,091	$146,837	$162,190	$161,683
Cost of goods sold	102,223	109,735	122,552	112,974
Gross profit	36,869	37,102	39,638	48,708
Selling, general, and administrative expenses	16,522	15,381	17,335	9,324
Depreciation and amortization	7,800	7,897	12,029	13,404
Operating profit	12,546	13,824	10,274	25,981
Interest expense	167	150	10,183	13,403
Nonoperating income	1,929	1,907	2,896	2,536
Extraordinary items	517	(1,102)	(1,377)	(93)
Taxable Income	14,825	14,478	1,610	15,022
Income Taxes(35%)	5,189	5,067	563	5,258
Net income	9,636	9,411	1,046	9,764

Balance Sheet for ABC company
(in Million USD)
Assets:	2010	2011	2012	2013
Cash	$21,258	$19,466	$35,993	$32,142
Accounts receivables	43,063	47,166	180,195	199,407
Inventories	10,250	12,168	32,181	36,219
Other current assets	9,150	9,105	10,794	8,877
Total current assets	83,721	87,905	259,163	276,645
Gross plant, property & equipment	126,429	130,916	124,988	130,226
Accumulated depreciation	75,765	76,948	49,904	51,825
Net plant, property & equipment	50,664	53,968	75,084	78,401
Investments	64,728	77,296	30,614	23,891
Intangibles	0	0	12,089	9,097
Other assets	9,424	7,435	102,653	88,044
Total assets	$208,537	$226,604	$479,603	$476,078

Liabilities and Equity	2010	2011	2012	2013
Accounts payable	26,173	17,290	8,830	14,913
Notes payable	10,712	22,179	20,000	15,000
Accrued expenses	10,723	12,006	21,103	45,614
Short-term notes	13,036	13,444	93,105	83,747
Other current liabilities	11,245	11,692	0	23,759
Total current liabilities	71,889	76,611	143,038	183,033
Long term notes	40,186	46,698	207,174	203,598
Other long-term liabilities	19,079	19,070	101,665	74,850
Total Liabilities	131,154	142,379	451,877	461,481
Common stock	3,757	3,697	942	943
Paid-in capital	4,685	4,616	15,241	15,285
Retained earnings	68,941	75,912	11,543	(1,631)
Common equity	77,383	84,225	27,726	14,597
Liabilities and Equity	208,537	226,604	479,603	476,078