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ABC COMPANY financial statement

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mikejerichoparan2005
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49 views

ABC COMPANY financial statement

Gf

Uploaded by

mikejerichoparan2005
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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ABC COMPANY

INCOME STATEMENT
For Year ended December 31, 2023
Revenue Amount
Sales revenue 4,111,607
Services revenue 14,000,000
Other income 27,000
Total Revenue 18,138,607
Direct Expenses
Cost of goods sol 847,367
Depreciation expense 770
Labor costs 846,606
Total Direct Expenses 1,694,752
Operating Expenses
Rent expense 15,000
Utilities 43,863
Professional fees 20,000
Total Operating Expenses 78,863
Net income before Tax 3,256,082
Income Tax(GR-OSD) 647,286
Net Profit(Loss) 2,609,796

ABC INCORPORATION
BALANCE SHEET
For Year ended December 31, 2023
Current assets
Cash 500,000
Accounts recievable 1,000,000
Inventory 1,500,000
Total current assets 3,000,000
Long term assets
Property, plant, and equipement 2,000,000
Investment 1,200,000
Goodwill 500,000
Total long-term assets 3,700,000
Total assets 6,700,000
Liabilities & Stockholder's Equity
Current Liabilities
Account payable 1,200,000
Short-term Loans 500,000
Accrued expenses 300,000
Total Current Liabilities 2,000,000
Long-term liabilities
Bonds Payable 1,000,000
Long-term debt 800,000
Differed Taxes 200,000
Total long-term Liabilities 2,000,000
Stockholder's Equity
Common Stock 1,500,000
Retained Earnings 1,200,000
Total Stockholder's Equity 2,700,000
Total Liabilities & Stockholder's
Equity 6,700,000

ABC INCORPORATION
CASH FLOW STATEMENT
For Year ended December 31, 2023
Cash Flow From Operating Activities
Net Income 2,609,796
Depreciation 770
Change in working capital -200,000
Net cash From Operating
Activites 2,410,566
Cash Flow From investing Activities
Purchase of equipement -500,000
Investment securities -300,000
Net cash From Investing
Activites -800,000
Cash Flow From Financing Activities Amount
Issuance of common stock 1,000,000
Payment of long-term debt -500,000
Net cash From Financing
Activities 500,000
Net Change in Cash 2,110,566

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