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    Financial Statements

    Uploaded by

    Justin Soules
    The document provides financial statements and balance sheets for a company in Q2 of year 2. It includes income statements, statements of cash flows, assets, and equity/liabilities. The income statement shows revenue, costs, expenses and profits. The cash flow statement tracks cash inflows and outflows. The balance sheet outlines assets, liabilities and equity.

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    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd

    Financial Statements

    Uploaded by

    Justin Soules
    12 views4 pages
    The document provides financial statements and balance sheets for a company in Q2 of year 2. It includes income statements, statements of cash flows, assets, and equity/liabilities. The income statement shows revenue, costs, expenses and profits. The cash flow statement tracks cash inflows and outflows. The balance sheet outlines assets, liabilities and equity.

    Original Title

    Financial Statements (1)

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    The document provides financial statements and balance sheets for a company in Q2 of year 2. It includes income statements, statements of cash flows, assets, and equity/liabilities. The income statement shows revenue, costs, expenses and profits. The cash flow statement tracks cash inflows and outflows. The balance sheet outlines assets, liabilities and equity.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    12 views4 pages

    Financial Statements

    Uploaded by

    Justin Soules
    The document provides financial statements and balance sheets for a company in Q2 of year 2. It includes income statements, statements of cash flows, assets, and equity/liabilities. The income statement shows revenue, costs, expenses and profits. The cash flow statement tracks cash inflows and outflows. The balance sheet outlines assets, liabilities and equity.

    Copyright:

    © All Rights Reserved
    Download as XLSX, PDF, TXT or read online from Scribd
    Download as xlsx, pdf, or txt
    of 4

    Income statementQ2 Y2 Actual Budget Deviation

    Revenue
    Sales 300000 300000 0
    Other revenue 0 0 0
    Total operating revenue 300000 300000 0
    Cost of goods sold
    Direct sales 0 0 0
    Direct labor 206.45 60000 -59793.55
    Direct raw materials 108000 108000 0
    Outsourcing 69463.72 2400 67063.72
    Distribution 0 0 0
    Total cost of goods sold 177670.17 170400 7270.17
    Gross profit 122329.83 129600 -7270.17
    Operating expenses
    Salaries 0 0 0
    Promotion 40000 40000 0
    Market research 0 0 0
    Research and Development 0 0 0
    Product development 0 0 0
    Outsourcing contracts 0 0 0
    Fixed operating expenses 40000 40000 0
    Storage 5980 5980 0
    Depreciation and amortization 24165 24165 0
    Loss on sale of assets 0 0 0
    Total operating expenses 110145 110145 0
    Operating profit, EBIT 12184.83 19455 -7270.17
    Financial revenue and expenses
    Interest income 2000 2000 0
    Interest expenses 4000 4000 0
    Total financial revenue and expenses -2000 -2000 0
    Profit before tax 10184.83 17455 -7270.17
    Tax 2546 4363 -1817
    Net income 7638.83 13092 -5453.17
    Statement of cash flowsQ2 Y2 Actual Budget Deviation
    Operating activities
    Cash receipts from customers 0 0 0
    Cash paid to suppliers -61911 -62150.48 239.48
    Cash paid to employees -32670 -32670 0
    Cash paid to marketing and sales -40000 -40000 0
    Cash paid to utilities -40000 -40000 0
    Cash paid for storage -5980 -5980 0
    Interest paid -4000 -4000 0
    Interest received 2000 2000 0
    Income taxes paid -2546 -4363 1817
    Payroll taxes paid 0 0 0
    Other revenues 0 0 0
    Net cash from operating activities -185107 -187163.48 2056.48
    Investing activities
    Purchase of property, plant and equipment 0 0 0
    Research and development -83333.3333 -83333.3333 0
    Bond purchase -100000 100000 -200000
    Net cash from investing activities -183333.33 16666.67 -200000
    Financing
    Issuance of stock 5000 5000 0
    Issuance of debt 100000 100000 0
    Loan repayment 200000 0 200000
    Dividends paid -1909.7075 -3630.63 1720.9225
    Net cash from financing activities 303090.29 101369.37 201720.92
    Net increase in cash -65350.04 -69127.44 3777.4
    Beginning cash 91256.28 91256.28 0
    Beginning overdraft 0 0 0
    Ending cash 25906.24 22128.84 3777.4
    Ending overdraft 0 0 0
    Assets Q2 Y2
    Fixed assets
    Factories 85000
    Total fixed assets 85000
    Intangible assets
    Researched technology 340839.66
    Product blueprints 0
    Total intangible assets 340839.66
    Financial instruments
    Bonds 300000
    Total investments 300000
    Current assets
    Raw material inventory 0
    Finished goods inventory 94014.53
    In-progress inventory 0
    Trade receivable 300000
    Interest receivable 0
    Cash 25906.24
    Total current assets 419920.77
    Total assets 1145760.43
    Equity and liabilities Q2 Y2
    Equity
    Capital stock 805000
    Retained earnings 40760.46
    Total equity 845760.46
    Long term liabilities
    Long term notes payable 100000
    Bonds 0
    Total long term liabilities 100000
    Current liabilities
    Current portion of loans payable 200000
    Overdraft 0
    Accounts payable 0
    Employees payable 0
    Interest payable 0
    Dividends payable 0
    Taxes payable 0
    Total current liabilities 200000
    Total liabilities and equity 1145760.46

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