Year 1 FS Year 1 FS Brendan's Bottled Water Ltd Income Statement Year 1 Brendan's Bottled Water Ltd Statement of Cash Flows Year 1 Sales Cost of Goods Sold $100 25 Less: Gross Profit 75 no Operating Exenses Total Operating Expense Cash Flows from Operating Activities Net Income add: Depreciation less: Gain or Loss on Sale of Capital Assets Change in Accounts Receivable Change in Inventory Change in Accounts Payable Change in Wages Payable Net Cash Flows from Operating Activities Profit or (Loss) 75 Brendan's Bottled Water Ltd Statement of Owners Equity Year 1 Common Stock (paid-in capital) Cash Flows from Investing Activities Cash flows used to acquire L/T assets Cash flows from disposal of L/T assets Net Cash Flows from Investing Activities $80 75 add: Less: Retained Earnings - beg of year Net Income Dividends Retained Earnings - end of year 75 Cash Flows from Financing Activites Cash flows from Long Term Borrowing Cash flows from Sale of Stock Cash flows from Payment of Dividends Net Cash Flows from Financing Activites Owner's Equity @ end of Year 1 $155 Change in Cash Position Brendan's Bottled Water Ltd Balance Sheet Cash at beginning of period Cash at end of period Year 1 Assets Cash Inventory $130 25 155 Total Current Assets Total Long Term Assets Total Assets 155 Liabilities Current Liabilities Long Term Liabilities Total Liabilities $0 Equity Common Stock Retained Earnings Total Equity 80 75 155 155 Total Liabilities and Stockholder's Equity Year 1 FS Year 1 FS Brendan's Bottled Water Ltd Income Statement Year 1 Brendan's Bottled Water Ltd Statement of Cash Flows Year 1 Sales Cost of Goods Sold $100 25 Less: Gross Profit 75 no Operating Exenses Total Operating Expense Cash Flows from Operating Activities Net Income add: Depreciation less: Gain or Loss on Sale of Capital Assets Change in Accounts Receivable Change in Inventory Change in Accounts Payable Change in Wages Payable Net Cash Flows from Operating Activities Profit or (Loss) 75 Brendan's Bottled Water Ltd Statement of Owners Equity Year 1 Common Stock (paid-in capital) Cash Flows from Investing Activities Cash flows used to acquire L/T assets Cash flows from disposal of L/T assets Net Cash Flows from Investing Activities $80 75 add: Less: Retained Earnings - beg of year Net Income Dividends Retained Earnings - end of year 75 Cash Flows from Financing Activites Cash flows from Long Term Borrowing Cash flows from Sale of Stock Cash flows from Payment of Dividends Net Cash Flows from Financing Activites Owner's Equity @ end of Year 1 $155 Change in Cash Position Brendan's Bottled Water Ltd Balance Sheet Cash at beginning of period Cash at end of period Year 1 Assets Cash Inventory $130 25 155 Total Current Assets Total Long Term Assets Total Assets 155 Liabilities Current Liabilities Long Term Liabilities Total Liabilities $0 Equity Common Stock Retained Earnings Total Equity 80 75 155 155 Total Liabilities and Stockholder's Equity