Module 1

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 Benefits Utilities Rent Office Supplies Insurance Advertising Website Taxes & Licenses 125200 14300 10100 6800 4500 9300 3100 8700

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

Cash Accounts Receivable Inventory Fixed Assets Other 15500 5500 114600 21800 27200

Current Liabilities

Accounts Payable Business Loans Capital Investments Other Debts 13100 75200 31400 22300

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