JSC Foods Corporation JSC Foods Corporation

Statements of Comprehensive Income Statements of Comprehensive Income

For the year ending December 31, 2010-2014 For the year ending December 31, 2010-2014

2014 2013 2014 2013

Net sales 52,501,085 47,345,223 Net sales 52,501,085 47,345,223
Cost of Sales 41,954,730 37,988,628 Cost of Sales 41,954,730 37,988,628
Gross profit 10,546,355 9,356,595 Gross profit 10,546,355 9,356,595
Operating Expenses 6,497,659 6,196,804 Operating Expenses 6,497,659 6,196,804
Operating Income 4,048,696 3,159,791 Operating Income 4,048,696 3,159,791
Interest Expense 250,000 250,000 Interest Expense 250,000 250,000
Income before taxes 3,798,696 2,909,791 Income before taxes 3,798,696 2,909,791
Taxes 1,139,609 872,937 Taxes 1,139,609 872,937
Net Income 2,659,087 2,036,854 Net Income 2,659,087 2,036,854

JSC Foods Corporation JSC Foods Corporation

Statements of Financial Position Statements of Financial Position
December 31, 2010-2014 December 31, 2010-2014

2014 2013 2014 2013

Current Assets Current Assets
Cash 1,062,527 996,904 Cash 1,062,527 996,904
Trade Receivables 2,300,500 1,921,799 Trade Receivables 2,300,500 1,921,799
Inventories 4,849,304 4,499,998 Inventories 4,849,304 4,499,998
Other current assets 1,050,000 983,746 Other current assets 1,050,000 983,746
9,262,331 8,402,447 9,262,331 8,402,447
Non-current assets Non-current assets
PPE 12,200,000 11,300,000 PPE 12,200,000 11,300,000
Other non current assets 835,689 925,681 Other non current assets 835,689 925,681
13,035,689 12,225,681 13,035,689 12,225,681
Total Assets 22,298,020 20,628,128 Total Assets 22,298,020 20,628,128

Current Liabilities Current Liabilities

Trade Payable 5,050,810 4,746,252 Trade Payable 5,050,810 4,746,252
Income Taxes Payable 433,051 283,705 Income Taxes Payable 433,051 283,705
Current portion of long-term debt 2,250,000 2,500,000 Current portion of long-term debt 2,250,000 2,500,000
Other Current Liabilities 85,600 28,700 Other Current Liabilities 85,600 28,700
7,819,461 7,558,657 7,819,461 7,558,657
Non Current Liabilities Non Current Liabilities
Long-term debt, net of current 2,000,000 1,250,000 Long-term debt, net of current 2,000,000 1,250,000
Total Liabilities 9,819,461 8,808,657 Total Liabilities 9,819,461 8,808,657
Stockholder’s Equity Stockholder’s Equity
Capital Stock 8,000,000 8,000,000 Capital Stock 8,000,000 8,000,000
Retained Earnings 4,478,559 3,819,472 Retained Earnings 4,478,559 3,819,472
Total Stockholder’s Equity 12,478,559 11,819,472 Total Stockholder’s Equity 12,478,559 11,819,472
Total liabilities and stockholder’s 22,298,020 20,628,128 Total liabilities and stockholder’s 22,298,020 20,628,128
Equity Equity
 Prepare a multi-step Statement of Beginning inventory 256,000
Comprehensive Income for the retail company, ABC,
Depreciation 78,000
for the year ending December 31, 2014 given the
information below: Ending inventory 248,000

Advertising expenditures 68,000 Gross Sales 3,210,000

Beginning inventory 256,000 Interest expense 64,000

Depreciation 78,000 Lease payments 52,000

Ending inventory 248,000 Management salaries 240,000

Gross Sales 3,210,000 Materials purchases 2,425,000

Interest expense 64,000 R&D expenditures 35,000

Lease payments 52,000 Repairs and maintenance costs 22,000

Management salaries 240,000 Returns and allowances 48,000

Materials purchases 2,425,000 Taxes 51,000

R&D expenditures 35,000

Repairs and maintenance costs 22,000
Returns and allowances 48,000
Taxes 51,000 Prepare a multi-step Statement of
Comprehensive Income for the retail company, ABC,
for the year ending December 31, 2014 given the
information below:

Advertising expenditures 68,000

Prepare a multi-step Statement of Beginning inventory 256,000
Comprehensive Income for the retail company, ABC,
for the year ending December 31, 2014 given the Depreciation 78,000
information below: Ending inventory 248,000

Advertising expenditures 68,000 Gross Sales 3,210,000

Beginning inventory 256,000 Interest expense 64,000

Depreciation 78,000 Lease payments 52,000

Ending inventory 248,000 Management salaries 240,000

Gross Sales 3,210,000 Materials purchases 2,425,000

Interest expense 64,000 R&D expenditures 35,000

Lease payments 52,000 Repairs and maintenance costs 22,000

Management salaries 240,000 Returns and allowances 48,000

Materials purchases 2,425,000 Taxes 51,000

R&D expenditures 35,000

Repairs and maintenance costs 22,000
Returns and allowances 48,000 Statement of Financial Position as of December 31, 2018
ASSETS
Taxes 51,000 Cash P 120,000
Marketable Securities 35,000
Accounts Receivable 45,000
Inventories 130,000
Prepare a multi-step Statement of Current Assets P330,000
Equipment 2,970,000
Comprehensive Income for the retail company, ABC,
Buildings 1,600,000
for the year ending December 31, 2014 given the Non-Current Assets 4,570,000
information below: Total Assets P 4,900,000

Advertising expenditures 68,000 LIABILITIES & OWNER’S EQUITY

Accounts Payable P 70,000
Short-term notes 55,000 Total Liabilities 2,825,000
Current liabilities 125,000 Common Stock 500,000
Long-term debt 2,700,000 Retained Earnings 1,575,000
Total Liabilities 2,825,000 Stockholders’ Equity 2,075,000
Common Stock 500,000 Total Liabilities & Equity P 4,900,000
Retained Earnings 1,575,000
Stockholders’ Equity 2,075,000 Statement of Financial Performance December 31, 2018
Total Liabilities & Equity P 4,900,000 Sales Revenue P 2,000,000
Cost of Sales 1,300,000
Statement of Financial Performance December 31, 2018 Gross Margin 700,000
Sales Revenue P 2,000,000 Operating Expenses 199,000
Cost of Sales 1,300,000 Operating profit 501,000
Gross Margin 700,000 Other Income 5,000
Operating Expenses 199,000 Other Expenses 2,800
Operating profit 501,000 Net Income before Tax 503,200
Other Income 5,000 Income Tax 150,960
Other Expenses 2,800 Net Income after Tax P 352,240
Net Income before Tax 503,200
Income Tax 150,960 Statement of Financial Position as of December 31, 2018
Net Income after Tax P 352,240 ASSETS
Cash P 120,000
Statement of Financial Position as of December 31, 2018 Marketable Securities 35,000
ASSETS Accounts Receivable 45,000
Cash P 120,000 Inventories 130,000
Marketable Securities 35,000 Current Assets P330,000
Accounts Receivable 45,000 Equipment 2,970,000
Inventories 130,000 Buildings 1,600,000
Current Assets P330,000 Non-Current Assets 4,570,000
Equipment 2,970,000 Total Assets P 4,900,000
Buildings 1,600,000
Non-Current Assets 4,570,000 LIABILITIES & OWNER’S EQUITY
Total Assets P 4,900,000 Accounts Payable P 70,000
Short-term notes 55,000
LIABILITIES & OWNER’S EQUITY Current liabilities 125,000
Accounts Payable P 70,000 Long-term debt 2,700,000
Short-term notes 55,000 Total Liabilities 2,825,000
Current liabilities 125,000 Common Stock 500,000
Long-term debt 2,700,000 Retained Earnings 1,575,000
Total Liabilities 2,825,000 Stockholders’ Equity 2,075,000
Common Stock 500,000 Total Liabilities & Equity P 4,900,000
Retained Earnings 1,575,000
Stockholders’ Equity 2,075,000 Statement of Financial Performance December 31, 2018
Total Liabilities & Equity P 4,900,000 Sales Revenue P 2,000,000
Cost of Sales 1,300,000
Statement of Financial Performance December 31, 2018 Gross Margin 700,000
Sales Revenue P 2,000,000 Operating Expenses 199,000
Cost of Sales 1,300,000 Operating profit 501,000
Gross Margin 700,000 Other Income 5,000
Operating Expenses 199,000 Other Expenses 2,800
Operating profit 501,000 Net Income before Tax 503,200
Other Income 5,000 Income Tax 150,960
Other Expenses 2,800 Net Income after Tax P 352,240
Net Income before Tax 503,200
Income Tax 150,960
Net Income after Tax P 352,240

Statement of Financial Position as of December 31, 2018

ASSETS
Cash P 120,000
Marketable Securities 35,000
Accounts Receivable 45,000
Inventories 130,000
Current Assets P330,000
Equipment 2,970,000
Buildings 1,600,000
Non-Current Assets 4,570,000
Total Assets P 4,900,000

LIABILITIES & OWNER’S EQUITY

Accounts Payable P 70,000
Short-term notes 55,000
Current liabilities 125,000
Long-term debt 2,700,000