From the year 2018 to 2022. Here are the balance sheet and statement of income. Make the
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From the year 2018 to 2022. Here are the balance sheet and statement of income.
Make the cash flow statements from year 2018 to year 2022 with the information below.
Northeast Meat Marketer | ||||||||
Balance sheet | ||||||||
For the periods ended: | 2018 | 2019 | 2020 | 2021 | 2022 | |||
ASSETS | ||||||||
Bank | 1,320,936.47 | 2,465,963.40 | 774,358.12 | 1,003,777.37 | 734,156.24 | |||
Petty Cash | 150,000.00 | 150,000.00 | 200,000.00 | 100,000.00 | 150,000.00 | |||
Inventory | 1,443,196.67 | 1,782,660.00 | 1,997,400.00 | 2,471,896.00 | 4,243,448.16 | |||
Customers | 993,852.00 | 2,210,280.00 | 2,241,180.00 | 3,308,972.00 | 3,903,924.00 | |||
Total Current Assets | 3,907,985.14 | 6,608,903.40 | 5,212,938.12 | 6,884,645.37 | 9,031,528.40 | |||
Office machinery and equipment | 3,355,000.00 | 3,718,000.00 | 4,718,800.00 | 5,718,800.00 | 5,718,800.00 | |||
(-) Accumulated depreciation (10%) | 335,500.00 | 707,300.00 | 1,179,180.00 | 1,751,060.00 | 2,322,940.00 | |||
Total Fixed Assets | 3,019,500.00 | 3,010,700.00 | 3,539,620.00 | 3,967,740.00 | 3,395,860.00 | |||
TOTAL ACTIVE | 6,927,485.14 | 9,619,603.40 | 8,752,558.12 | 10,852,385.37 | 12,427,388.40 | |||
PASSIVES | ||||||||
Suppliers | 774,800.00 | 741,836.00 | 991,375.16 | 1,693,812.00 | 1,133,436.00 | Short-term debts (1 year), to its suppliers | ||
short term debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
Total Current Liabilities | 774,800.00 | 741,836.00 | 991,375.16 | 1,693,812.00 | 1,133,436.00 | |||
long term debt | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |||
TOTALLY PASSIVE | 774,800.00 | 741,836.00 | 991,375.16 | 1,693,812.00 | 1,133,436.00 | |||
CAPITAL | ||||||||
capital contribution | 3,600,000.00 | 3,600,000.00 | 3,600,000.00 | 4,600,000.00 | 4,600,000.00 | |||
What the company kept, what it did not distribute | Retained earnings | 2,552,685.14 | 5,277,767.40 | 4,161,182.96 | 4,558,573.37 | 6,693,952.40 | ||
TOTAL CAPITAL | 6,152,685.14 | 8,877,767.40 | 7,761,182.96 | 9,158,573.37 | 11,293,952.40 | |||
LIABILITIES AND EQUITY | 6,927,485.14 | 9,619,603.40 | 8,752,558.12 | 10,852,385.37 | 12,427,388.40 | |||
Fixed asset detail | ||||||||
Office machinery and equipment | 3,355,000.00 | 3,718,000.00 | 4,718,800.00 | 5,718,800.00 | 5,718,800.00 | |||
Accumulated depreciation (10%) | 335,500.00 | 707,300.00 | 1,179,180.00 | 1,751,060.00 | 2,322,940.00 | |||
Net office machinery and equipment | 3,019,500.00 | 3,010,700.00 | 3,539,620.00 | 3,967,740.00 | 3,395,860.00 | |||
Annual depreciation expense | 335,500.00 | 371,800.00 | 471,880.00 | 571,880.00 | 571,880.00 |
Northeast Meat Marketer | ||||||
Statement of income | ||||||
For the periods ended: | 2018 | 2019 | 2020 | 2021 | 2022 | |
Sales | 20,350,804.98 | 22,276,672.44 | 15,929,090.00 | 16,294,228.40 | 17,837,106.57 | |
Sales cost | 14,153,059.92 | 15,087,382.68 | 10,353,908.50 | 10,917,133.03 | 11,066,140.92 | |
Gross profit | 6,197,745.06 | 7,189,289.76 | 5,575,181.50 | 5,377,095.37 | 6,770,965.65 | |
OPERATING COSTS | salaries | 648,000.00 | 678,000.00 | 564,000.00 | 564,000.00 | 282,000.00 |
Freight and fuel | 815,400.00 | 885,134.00 | 612,673.00 | 549,270.00 | 745,900.00 | |
Lease | 333,600.00 | 333,600.00 | 601,200.00 | 601,200.00 | 602,400.00 | |
depreciation expense | 335,500.00 | 371,800.00 | 471,880.00 | 571,880.00 | 571,880.00 | |
Other general expenses | 418,552.00 | 631,252.00 | 542,728.00 | 525,652.00 | 624,000.00 | |
Financial expenses | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
Profit before taxes | 3,646,693.06 | 4,289,503.76 | 2,782,700.50 | 2,565,093.37 | 3,944,785.65 | |
Taxes (30%) | 1,094,007.92 | 1,286,851.13 | 834,810.15 | 769,528.01 | 1,183,435.70 | |
It is reflected in the balance sheet | Net profit | 2,552,685.14 | 3,002,652.63 | 1,947,890.35 | 1,795,565.36 | 2,761,349.96 |
UTILITY OPERATION | ||||||
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date: