Documentation
| Game Card |
| Financial Statements |
| December 31, 2017 |
| Prepared By |
Peter Lewis |
| Purpose |
To provide financial information about the current state |
| |
of the Game Card store |
Income Statement
| Game Card |
| Income Statement |
| January 1, 2017 to December 31, 2017 |
| Income |
| Gross Sales |
$ 417,600 |
| Less returns and allowances |
34,100 |
| Net Sales |
383,500 |
| Cost of Goods |
| Inventory, January 1 |
123,200 |
| Purchases |
78,000 |
| Delivery Charges |
14,400 |
| Total Merchandise Handled |
215,600 |
| Less Inventory, December 31 |
114,600 |
| Cost of Goods Sold |
101,000 |
| Gross Profit |
282,500 |
| Interest Income |
3,700 |
| Total Income |
286,200 |
| Expenses |
| Salaries and Benefits |
125,200 |
| Utilities |
14,300 |
| Rent |
10,100 |
| Office Supplies |
6,800 |
| Insurance |
4,500 |
| Advertising |
9,300 |
| Website |
3,100 |
| Taxes & Licenses |
8,700 |
| Total Expenses |
182,000 |
| Net Income |
$ 104,200 |
Expenses
Game Card Expenses
Salaries and BenefitsUtilitiesRentOffice SuppliesInsuranceAdvertisingWebsiteTaxes & Licenses125200143001010068004500930031008700
Balance Sheet
| Game Card |
| Balance Sheet |
| December 31, 2017 |
| |
Current |
| Assets |
Amounts |
% of Total |
| Cash |
$ 15,500 |
8.4% |
| Accounts Receivable |
5,500 |
3.0% |
| Inventory |
114,600 |
62.1% |
| Fixed Assets |
21,800 |
11.8% |
| Other |
27,200 |
14.7% |
| Total Assets |
$ 184,600 |
100.0% |
| Liabilities |
Amounts |
% of Total |
| Accounts Payable |
$ 13,100 |
9.2% |
| Business Loans |
75,200 |
53.0% |
| Capital Investments |
31,400 |
22.1% |
| Other Debts |
22,300 |
15.7% |
| Total Liabilities |
$ 142,000 |
100.0% |
| Net Worth |
$ 42,600 |
23.1% |
| Total Liabilities and Equity |
$ 184,600 |
100.0% |
Current Assets
CashAccounts ReceivableInventoryFixed AssetsOther1550055001146002180027200
Current Liabilities
Accounts PayableBusiness LoansCapital InvestmentsOther Debts13100752003140022300
Cash Flow
| Game Card |
| Cash Flow Statement |
| End of Year: 2017 |
| Operating Cash Flow |
| Net Income After Tax |
$ 104,200 |
| Depreciation |
3,200 |
| Increase in Accounts Receivable |
(9,100) |
| Increase in Inventory |
(15,300) |
| Decrease in Accounts Payable |
(4,700) |
| Increase in Accrued Expenses |
6,300 |
| Total Operating Cash Flow |
84,600 |
| Investing Cash Flow |
| Purchase of Equipment |
$ (31,500) |
| Decrease in Notes Receivable |
700 |
| Total Investing Cash Flow |
(30,800) |
| Financing Cash Flow |
| Increase in Long Term Notes Payable |
$ 21,500 |
| Increase in Term Loan |
4,500 |
| Conversion of Notes to Shareholders |
– 0 |
| Total Financing Cash Flow |
26,000 |
| Total Cash Flow |
79,800 |
| Cash at beginning of the year |
73,100 |
| Cash at the end of the year |
$ 152,900 |
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