East Coast Yachts 2022 Income Statement Sales COGS Other Expenses Depreciation EBIT $185,250,000 136,125,000 22,169,000 6,054,000...

  

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East Coast Yachts 2022 Income Statement Sales COGS Other Expenses Depreciation EBIT $185,250,000 136,125,000 22,169,000 6,054,000 $ 20,902,000 3,336,000 Interest Taxable Income $ 17,566,000 Taxes (21%) $ 3,688,860 Net Income $ 13,877,140 Dividends 6,340,000 Additions to Retained Earnings $ 7,537,140 East Coast Yachts December 31, 2022 Balance Sheet ASSETS Current Assets: Cash 2,891,400 Accounts Recievable 5,201,500 Inventory 5,832,100 Total Current Assets $ 13,925,000 Fixed Assets: Net PPE $ 89,303,400 103,228,400 Total Assets: Current Liabilities: Accounts Payable $ 5,582,200 Notes Payable 12,621,500 Total Current Liabilities $ 18,203,700 Long Term Debt: $ 32,100,000 Liabilities & Equity Stockholder Equity: Common Stock $ 4,912,000 Retained Earnings 48,012,700 Total Equity $ 52,924,700 Total Liabilities and Stockholder Equity $ 103,228,400 East Coast Yachts 2022 Income Statement Sales COGS Other Expenses Depreciation EBIT $185,250,000 136,125,000 22,169,000 6,054,000 $ 20,902,000 3,336,000 Interest Taxable Income $ 17,566,000 Taxes (21%) $ 3,688,860 Net Income $ 13,877,140 Dividends 6,340,000 Additions to Retained Earnings $ 7,537,140 East Coast Yachts December 31, 2022 Balance Sheet ASSETS Current Assets: Cash 2,891,400 Accounts Recievable 5,201,500 Inventory 5,832,100 Total Current Assets $ 13,925,000 Fixed Assets: Net PPE $ 89,303,400 103,228,400 Total Assets: Current Liabilities: Accounts Payable $ 5,582,200 Notes Payable 12,621,500 Total Current Liabilities $ 18,203,700 Long Term Debt: $ 32,100,000 Liabilities & Equity Stockholder Equity: Common Stock $ 4,912,000 Retained Earnings 48,012,700 Total Equity $ 52,924,700 Total Liabilities and Stockholder Equity $ 103,228,400