Question
Two years ago, Statesboro was selected as the location for the newest NFL team, the Georgia Peach Bums. The Peach Bums have a multiple owner/publicly
Two years ago, Statesboro was selected as the location for the newest NFL team, the Georgia Peach Bums. The Peach Bums have a multiple owner/publicly traded corporation ownership model. As part of this model, the investors purchased 25,000,000 shares of common stock at $1 per share. Unfortunately, they have lost all of their financial statements from 2014. Please use the following accounts and balances to create a Balance Sheet as of 12/31/2014 (ending balances only) and an Income Statement for the Year Ended 2014. Make a table with professional quality. Indicate the date and categories clearly. *All amounts in millions (USD) Accounts Payable $3 Accounts Receivable, net $3 Accrued expenses $2 Capital Lease Obligations $5 Cash $4 Common Stock $25 Cost of Goods Sold $5 Intangible Assets $3 Interest Income (Expense) -$4 Inventories $6 Net Revenue $35 Other Long-term Liabilities $1 Other Non-current Assets $4 Property and Equipment, net $25 Retained Earnings $4 Revolving Credit (Loan) $5 Selling G&A $23 Taxes $1 Additionally, please create a Statement of Cash Flows for the Year Ended 2014 using the following information: *All amounts in millions (USD) Accounts Payable $1 Accounts Receivable $3 Depreciation $5 Inventories ($1) Net Income $2 Payments of Long-term debt ($4) Proceeds from sale of equipment $6 Process from stock issuance $8 Purchase of Property & Equipment ($18)
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