Questions are in pic 2, and I think we need to use pic 1 as a supplement to answer the questions. Thank you! I must submit this assignment soon. Anyone who could help me with this is greatly appreciated!
Balance Sheet Statement of Retained Earnings For the Year Ending 12/31/2021 retained earnings, opening net income total cash dividends retained earnings, closing Cash Accounts Receivable Inventory Current Assets PPE, Gross Accumulated Depreciation PPE, Net Total Assets Accounts Payable Deferred Revenue Accrued Expenses Current Liabilities Bonds Payable Common Stock, Par Common Stock, APIC Retained Earnings Total L& SE Income Statement For the Year Ending 12/31/2021 Revenue COGS Gross Profit SG&A Other Operating Expenses Operating Income Interest Expense Loss on Sale PreTax Income Tax Expense Net Income 12/31/2021 12/31/2020 34,000 29000 29,000 30000 31,000 38000 94,000 97,000 127,000 99000 30000 25000 97,000 74,000 191,000 171,000 28,500 27000 1,500 0 1,200 1400 31,200 28,400 34,000 45000 1,000 900 87,600 71700 37,200 25000 191,000 171,000 137,000 87,000 add: 50,000 18,000 less: 8,000 24,000 1,350 1,750 20,900 4,389 16,511 Statement of Cash Flows For the Year Ending 12/31/2021 25,000 net income 16,511 less loss on sale of building 41,511 add depreciation expense 4,311 decrease in account receivable 37,200 decrease in merchandise inventor increase in account payable increase in deferred revenue decrease in accrued expenses net cash from operating activities purchase of equipment proceeds from issue of common s payment of bonds payable payment of bonds dividend net cash used for financing activit net increase/decrease) in cash cash balance as on December 31, cash balance as on December 20% 16,511 1,750 6750 1,000 7,000 1,500 1,500 (200) 35,811 -31500 16,000 (11,000) (4,311) 689 5,000 29,000 34000 Additional Facts Related to Year Ending 12/31/2021 1. Bought equipment for cash 31,500 2. Paid off bonds 3. Issued new shares of stock 4. Paid and declared dividends 5. Did not buy back any stock, issue any stock dividends or declare any stock splits 6. Accounts payable includes only inventory purchases made on credit 7. Total depreciation expense reported in COGS and SG&A is 6,750 Change in Contributed Capital + Change in Earned Capital Change in Assets = Q1. Netflix Change in Liabilities + 2. Companies engage in three main types of transactions. Working off of the aggregated calculations from #1 as well as all of the company's financial statements, write one-two clear sentences for each type of transaction (3-6 sentences in total) that explain very broadly what the company did over the last year. 3. Netflix does not report any intangibles on its Balance Sheet while Comcast reports quite a lot. Does that mean that Netflix does not have any intangibles? Explain. (2-4 sentences) 4. What is Netflix's predominant form of financing? Explain one cost and one benefit of this type of financing. (3-4 Sentences) Balance Sheet Statement of Retained Earnings For the Year Ending 12/31/2021 retained earnings, opening net income total cash dividends retained earnings, closing Cash Accounts Receivable Inventory Current Assets PPE, Gross Accumulated Depreciation PPE, Net Total Assets Accounts Payable Deferred Revenue Accrued Expenses Current Liabilities Bonds Payable Common Stock, Par Common Stock, APIC Retained Earnings Total L& SE Income Statement For the Year Ending 12/31/2021 Revenue COGS Gross Profit SG&A Other Operating Expenses Operating Income Interest Expense Loss on Sale PreTax Income Tax Expense Net Income 12/31/2021 12/31/2020 34,000 29000 29,000 30000 31,000 38000 94,000 97,000 127,000 99000 30000 25000 97,000 74,000 191,000 171,000 28,500 27000 1,500 0 1,200 1400 31,200 28,400 34,000 45000 1,000 900 87,600 71700 37,200 25000 191,000 171,000 137,000 87,000 add: 50,000 18,000 less: 8,000 24,000 1,350 1,750 20,900 4,389 16,511 Statement of Cash Flows For the Year Ending 12/31/2021 25,000 net income 16,511 less loss on sale of building 41,511 add depreciation expense 4,311 decrease in account receivable 37,200 decrease in merchandise inventor increase in account payable increase in deferred revenue decrease in accrued expenses net cash from operating activities purchase of equipment proceeds from issue of common s payment of bonds payable payment of bonds dividend net cash used for financing activit net increase/decrease) in cash cash balance as on December 31, cash balance as on December 20% 16,511 1,750 6750 1,000 7,000 1,500 1,500 (200) 35,811 -31500 16,000 (11,000) (4,311) 689 5,000 29,000 34000 Additional Facts Related to Year Ending 12/31/2021 1. Bought equipment for cash 31,500 2. Paid off bonds 3. Issued new shares of stock 4. Paid and declared dividends 5. Did not buy back any stock, issue any stock dividends or declare any stock splits 6. Accounts payable includes only inventory purchases made on credit 7. Total depreciation expense reported in COGS and SG&A is 6,750 Change in Contributed Capital + Change in Earned Capital Change in Assets = Q1. Netflix Change in Liabilities + 2. Companies engage in three main types of transactions. Working off of the aggregated calculations from #1 as well as all of the company's financial statements, write one-two clear sentences for each type of transaction (3-6 sentences in total) that explain very broadly what the company did over the last year. 3. Netflix does not report any intangibles on its Balance Sheet while Comcast reports quite a lot. Does that mean that Netflix does not have any intangibles? Explain. (2-4 sentences) 4. What is Netflix's predominant form of financing? Explain one cost and one benefit of this type of financing. (3-4 Sentences)
