ull Globe LTE 17:34 O O 26% Done 03_Handout_1(12).pdf ESTI SH1663 Sample Financial Statements Verona Carinderia Verona Carinderia Income Statement December 21, 20AA Amount Percent Net Sales 7,457,736 100% Less: Cost of Goods Sold 6,228,552 84% Gross Profit 1,229,184 16% Less: Other Expenses 886,177 12% Operating Income Less: Interest Expense 343,007 4% 74,208 1% Net Income 268,799 3% Verona Carinderia Balance Sheet December 31, 20AA Amount Percent Cash 91,626 2.3% Net Accounts Receivable 939,460 24.0% Inventories 1,836,634 46.8% Prepaid Rent 180,000 4.6% Total Current Assets 3,047,720 77.7% Equipment and Fixtures Less: Accumulated Depreciation 1,280,961 32.7% 406,728 10.4% Total Fixed Assets 874,233 22.3% TOTAL ASSETS 3,921,953 100% Accounts Payable 467,376 11.9% Notes Payable 321,000 8.2% Accruals 436,560 11.1% Total Current Liabilities 1,224,936 31.2% Long-term Debt Owner's Capital 608,000 15.5% 2,089,017 53.3% TOTAL LIABILITIES AND CAPITAL 3,921,953 100% 03 Handout 1 *Property of STI

ull Globe LTE 17:34 O O 26% Done 03_Handout_1(12).pdf ESTI SH1663 Sample Financial Statements Verona Carinderia Verona Carinderia Income Statement December 21, 20AA Amount Percent Net Sales 7,457,736 100% Less: Cost of Goods Sold 6,228,552 84% Gross Profit 1,229,184 16% Less: Other Expenses 886,177 12% Operating Income Less: Interest Expense 343,007 4% 74,208 1% Net Income 268,799 3% Verona Carinderia Balance Sheet December 31, 20AA Amount Percent Cash 91,626 2.3% Net Accounts Receivable 939,460 24.0% Inventories 1,836,634 46.8% Prepaid Rent 180,000 4.6% Total Current Assets 3,047,720 77.7% Equipment and Fixtures Less: Accumulated Depreciation 1,280,961 32.7% 406,728 10.4% Total Fixed Assets 874,233 22.3% TOTAL ASSETS 3,921,953 100% Accounts Payable 467,376 11.9% Notes Payable 321,000 8.2% Accruals 436,560 11.1% Total Current Liabilities 1,224,936 31.2% Long-term Debt Owner's Capital 608,000 15.5% 2,089,017 53.3% TOTAL LIABILITIES AND CAPITAL 3,921,953 100% 03 Handout 1 *Property of STI

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter9: Metric-analysis Of Financial Statements

Section: Chapter Questions

Problem 9.4.13P: Twenty metrics of liquidity, solvency, and profitability The comparative financial statements of...

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