| 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 |
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5110WA7-Financials.xlsx
