write cover letter for financial report

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Profit & Loss January 2015 Jan 15 % of Income Ordinary Income/Expense Income Merchandise Sales Service Sales Uncategorized Income 225,500 6,100 97% 5% 0% Total Income 231,600 100% Cost of Goods Sold 72% 72% 28% 167,500 167,500 64,100 Cost of Goods Sold Total COGS Gross Profit Expense 1,750 1,500 1,000 23,000 500 9,647 3,000 1,400 0 1% 1% 0% 10% 0% 4% 1% 1% 0% Depreciation Expense Insurance Expense Interest Expense License and Permit Expense Office Supplies Payroll Expenses Rent Expense Telephone Expense Uncategorized Expenses 41,797 18% Total Expense 10% 22,303 Net Ordinary Income Other Income/Expense Other Income 75 75 75 22,378 0% 0% 0% 10% Accrued Interest Income Total Other Income Net Other Income Net Income Balance Sheet As of January 31, 2015 Jan 31, 15 % of Column ASSETS Current Assets Checking/Savings Checking Total Checking/Savings Accounts Receivable 56,709 14% 56,709 18% Accounts Receivable Total Accounts Receivable Other Current Assets 75,625 75,625 18% 140,500 16,500 30,075 34% A% 7% Inventory Asset Prepaid Insurance Short Term Investments 45% 187,075 Total Other Current Assets Total Current Assets Fixed Assets 76% 319,409 0% 23% 1.750 96,900 Accumulated Depreciation Furniture and Equipment 23% 95,150 Total Fixed Assets Other Assets 1% 1% 100% 3,000 3,000 417,559 Prepaid Rent Total Other Assets TOTAL ASSETS LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 18% 73,500 Accounts Payable Total Accounts Payable 18% 73,500 Other Current Liabilities Accrued Expenses Payroll Liabilities Sales Tax Payable 0% 1% 4% 3,205 17,476 21,682 95,182 Total Other Current Liabilities Total Current Liabilities Long Term Liabilities 23% 48% 48% 71% 200,000 200,000 295,182 Notes Payable Total Long Term Liabilities Total Liabilities Equity Capital Stock Net Income 100,000 22,378 122,378 417,559 Total Equity 25% TOTAL LIABILITIES & EQUITY 100% Statement of Cash Flows January 2015 Jan 15 OPERATING ACTIVITIES Net Income Adjustments to reconcile Net Income to net cash provided by operations: 22,378 -75,625 140,500 16,500 -30,075 73,500 1,000 3,205 17,476 Accounts Receivable Inventory Asset Prepaid insurance Short Term Investments Accounts Payable Accrued Expenses Payroll Liabilities Sales Tax Payable -145,141 Net cash provided by Operating Activities INVESTING ACTIVITIES 1,750 96,900 3,000 Accumulated Depreciation Furniture and Equipment Prepaid Rent -98,150 Net cash provided by Investing Activities FINANCING ACTIVITIES 200,000 Notes Payable Capital Stock 100,000 300,000 56,709 56,709 Net cash provided by Financing Activities Net cash increase for period Cash at end of period Profit & Loss January 2015 Jan 15 % of Income Ordinary Income/Expense Income Merchandise Sales Service Sales Uncategorized Income 225,500 6,100 97% 5% 0% Total Income 231,600 100% Cost of Goods Sold 72% 72% 28% 167,500 167,500 64,100 Cost of Goods Sold Total COGS Gross Profit Expense 1,750 1,500 1,000 23,000 500 9,647 3,000 1,400 0 1% 1% 0% 10% 0% 4% 1% 1% 0% Depreciation Expense Insurance Expense Interest Expense License and Permit Expense Office Supplies Payroll Expenses Rent Expense Telephone Expense Uncategorized Expenses 41,797 18% Total Expense 10% 22,303 Net Ordinary Income Other Income/Expense Other Income 75 75 75 22,378 0% 0% 0% 10% Accrued Interest Income Total Other Income Net Other Income Net Income Balance Sheet As of January 31, 2015 Jan 31, 15 % of Column ASSETS Current Assets Checking/Savings Checking Total Checking/Savings Accounts Receivable 56,709 14% 56,709 18% Accounts Receivable Total Accounts Receivable Other Current Assets 75,625 75,625 18% 140,500 16,500 30,075 34% A% 7% Inventory Asset Prepaid Insurance Short Term Investments 45% 187,075 Total Other Current Assets Total Current Assets Fixed Assets 76% 319,409 0% 23% 1.750 96,900 Accumulated Depreciation Furniture and Equipment 23% 95,150 Total Fixed Assets Other Assets 1% 1% 100% 3,000 3,000 417,559 Prepaid Rent Total Other Assets TOTAL ASSETS LIABILITIES & EQUITY Liabilities Current Liabilities Accounts Payable 18% 73,500 Accounts Payable Total Accounts Payable 18% 73,500 Other Current Liabilities Accrued Expenses Payroll Liabilities Sales Tax Payable 0% 1% 4% 3,205 17,476 21,682 95,182 Total Other Current Liabilities Total Current Liabilities Long Term Liabilities 23% 48% 48% 71% 200,000 200,000 295,182 Notes Payable Total Long Term Liabilities Total Liabilities Equity Capital Stock Net Income 100,000 22,378 122,378 417,559 Total Equity 25% TOTAL LIABILITIES & EQUITY 100% Statement of Cash Flows January 2015 Jan 15 OPERATING ACTIVITIES Net Income Adjustments to reconcile Net Income to net cash provided by operations: 22,378 -75,625 140,500 16,500 -30,075 73,500 1,000 3,205 17,476 Accounts Receivable Inventory Asset Prepaid insurance Short Term Investments Accounts Payable Accrued Expenses Payroll Liabilities Sales Tax Payable -145,141 Net cash provided by Operating Activities INVESTING ACTIVITIES 1,750 96,900 3,000 Accumulated Depreciation Furniture and Equipment Prepaid Rent -98,150 Net cash provided by Investing Activities FINANCING ACTIVITIES 200,000 Notes Payable Capital Stock 100,000 300,000 56,709 56,709 Net cash provided by Financing Activities Net cash increase for period Cash at end of period