Finances.xlsx

Documentation

Game Card
Financial Statements
December 31, 2017
Prepared By Peter Lewis
Purpose To provide financial information about the current state
of the Game Card store

Income Statement

Game Card
Income Statement
January 1, 2017 to December 31, 2017
Income
Gross Sales $ 417,600
Less returns and allowances 34,100
Net Sales 383,500
Cost of Goods
Inventory, January 1 123,200
Purchases 78,000
Delivery Charges 14,400
Total Merchandise Handled 215,600
Less Inventory, December 31 114,600
Cost of Goods Sold 101,000
Gross Profit 282,500
Interest Income 3,700
Total Income 286,200
Expenses
Salaries and Benefits 125,200
Utilities 14,300
Rent 10,100
Office Supplies 6,800
Insurance 4,500
Advertising 9,300
Website 3,100
Taxes & Licenses 8,700
Total Expenses 182,000
Net Income $ 104,200

Expenses

Game Card Expenses

Salaries and BenefitsUtilitiesRentOffice SuppliesInsuranceAdvertisingWebsiteTaxes & Licenses125200143001010068004500930031008700

Balance Sheet

Game Card
Balance Sheet
December 31, 2017
Current
Assets Amounts % of Total
Cash $ 15,500 8.4%
Accounts Receivable 5,500 3.0%
Inventory 114,600 62.1%
Fixed Assets 21,800 11.8%
Other 27,200 14.7%
Total Assets $ 184,600 100.0%
Liabilities Amounts % of Total
Accounts Payable $ 13,100 9.2%
Business Loans 75,200 53.0%
Capital Investments 31,400 22.1%
Other Debts 22,300 15.7%
Total Liabilities $ 142,000 100.0%
Net Worth $ 42,600 23.1%
Total Liabilities and Equity $ 184,600 100.0%

Current Assets

CashAccounts ReceivableInventoryFixed AssetsOther1550055001146002180027200

Current Liabilities

Accounts PayableBusiness LoansCapital InvestmentsOther Debts13100752003140022300

Cash Flow

Game Card
Cash Flow Statement
End of Year: 2017
Operating Cash Flow
Net Income After Tax $ 104,200
Depreciation 3,200
Increase in Accounts Receivable (9,100)
Increase in Inventory (15,300)
Decrease in Accounts Payable (4,700)
Increase in Accrued Expenses 6,300
Total Operating Cash Flow 84,600
Investing Cash Flow
Purchase of Equipment $ (31,500)
Decrease in Notes Receivable 700
Total Investing Cash Flow (30,800)
Financing Cash Flow
Increase in Long Term Notes Payable $ 21,500
Increase in Term Loan 4,500
Conversion of Notes to Shareholders – 0
Total Financing Cash Flow 26,000
Total Cash Flow 79,800
Cash at beginning of the year 73,100
Cash at the end of the year $ 152,900