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 |