| BUS 5110 Written Assignment 7 Financials |
| Income Statements | Balance Sheets |
| Fashion Forward | Dream Designs | Fashion Forward | Fashion Forward | Dream Designs | Dream Designs |
| 12/31/18 | 12/31/18 | 12/31/18 | 12/31/17 | 12/31/18 | 12/31/17 |
| Revenue | Current Assets |
| Credit Sales | 2,000,000 | 4,320,000 | Cash and Cash Equivalents | 950,000 | 980,000 | 1,710,000 | 1,705,000 |
| Non-Credit Sales | 500,000 | 1,080,000 | Accounts Receivable | 200,000 | 150,000 | 250,000 | 275,000 |
| Total Revenue | 2,500,000 | 5,400,000 | Inventory | 112,000 | 105,000 | 200,000 | 215,000 |
| Other Current Assets | 35,000 | 50,000 | 120,500 | 100,000 |
| Cost of Sales | 1,400,000 | 3,250,000 | Total Current Assets | 1,297,000 | 1,285,000 | 2,280,500 | 2,295,000 |
| Gross Profit | 1,100,000 | 2,150,000 | Property, Plant and Equipment | 635,000 | 700,000 | 850,000 | 900,000 |
| Goodwill | 750,000 | 750,000 | 1,150,000 | 1,150,000 |
| Operating Expenses | Other Long-Term Assets | 65,000 | 70,000 | 100,750 | 105,000 |
| Research and Development | 50,000 | 200,000 | Total Assets | 2,747,000 | 2,805,000 | 4,381,250 | 4,450,000 |
| Selling, General, and Administrative | 750,000 | 1,600,000 |
| Total Operating Expenses | 800,000 | 1,800,000 | Current Liabilities |
| Accounts Payable | 545,000 | 535,000 | 845,750 | 875,000 |
| Earnings Before Interest and Taxes | 300,000 | 350,000 | Short-Term Debt | 25,000 | - 0 | 50,000 | 60,000 |
| Other Current Liabilities | 600,000 | 510,000 | 730,000 | 740,000 |
| Interest Expense | (18,000) | (50,000) | Total Current Liabilities | 1,170,000 | 1,045,000 | 1,625,750 | 1,675,000 |
| Income Before Tax | 282,000 | 300,000 | Long-Term Debt | 75,000 | - 0 | 120,500 | 130,000 |
| Income Tax Expense | (145,500) | (87,500) | Other Long-Term Liabilities | 100,000 | 75,000 | 155,000 | 165,000 |
| Net Income | 136,500 | 212,500 | Total Liabilities | 1,345,000 | 1,120,000 | 1,901,250 | 1,970,000 |
| Stockholders Equity |
| Common Stock | 500,000 | 775,000 | 749,500 | 942,750 |
| Preferred Stock | 150,000 | 294,500 | 390,000 | 409,250 |
| Retained Earnings | 752,000 | 615,500 | 1,340,500 | 1,128,000 |
| Total Stockholders Equity | 1,402,000 | 1,685,000 | 2,480,000 | 2,480,000 |
| Total Liabilities and Stockholders Equity | 2,747,000 | 2,805,000 | 4,381,250 | 4,450,000 |
| - 0 | - 0 | - 0 | - 0 |
lanaden1989
5110WA7-Financials.xlsx
