cis 122l

FinancialReport.xlsx

Documentation

Cooking Craft
Author
Date
Purpose	To provide a summary of Cooking Craft's financial status, using information from several team members in the Finance Department

Cooking Craft
Financial Report Task List
Author	Marta Filipovic
Phone	(401) 555-0142
Office	33B
	142 Business Lane
	Warwick, RI 02888
To do:
1)	Extract financial data from the company database accounts
2)	Reconcile figures against the OAS (online accounting system)
3)	Share document with John Andersen, Kari Lewis, and Larry Todd for comments and edits
4)	Mail a copy to Armando Garza
5)	Incorporate all edits into a final draft
6)	Make available to Cooking Craft departments heads
7)	Finalize the workbook

Cooking Craft
Financial Summary
			(in thousands, except per share data and employees)
Period Ending	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Revenues and Cash Receipts
Revenue	$40,000	$32,100	$25,800
Cash and cash equivalents at beginning of year	3,700	1,800	(2,600)
Cash and cash equivalents at end of year	5,900	4,100	6,700
Net income	9,700	4,400	3,500
Net cash provided by operating activities	14,000	9,600	7,900
At Year End
Marketable securities	5,300	5,200	4,500
Current assets	20,700	15,100	12,400
Total assets	30,700	24,700	21,900
Current liabilities	3,300	3,500	2,500
Long-term liabilities	10,700	8,100	5,900
Total liabilities	7,000	11,600	8,400
Stockholders' equity	22,400	18,400	17,600
Working capital	17,400	11,600	9,900
Full-time employees	2,712	2,470	2,044
Common Stock Data
Shares	2,150	2,205	2,100
Net income per share	$4.51	$2.00	$1.67

Cooking Craft
Income Statement
			(in thousands, except per share data)
Period Ending	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Revenue	$ 40,000	$ 32,100	$ 25,800
Cost and expenses
Cost of goods sold	3,900	3,700	3,300
Marketing and selling	13,500	12,300	10,400
Research and development	7,400	6,400	4,900
General and administrative	6,600	5,800	4,100
Total cost and expenses	31,400	28,200	22,700
Income from operations	9,300	4,100	3,200
Interest and other income	700	500	400
Income before income taxes	10,000	4,600	3,600
Provision for income taxes	300	200	100
Net income	9,700	4,400	3,500
Number of shares	2,150	2,205	2,100
Earnings per share	$4.51	$2.00	$1.67

Cooking Craft
Cash Flow Statement
			(in thousands)
Period Ending	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Operating Activities
Net Income	$ 9,700	$ 4,400	$ 3,500
Adjustments to reconcile Net Income to net Cash from Operating Activities
Depreciation and amortization	3,300	2,600	1,900
Research and development	700	1,200	800
Litigation and related interest accrual reversal	(100)	0	0
Changes in operating assets and liabilities
Accounts receivable	(800)	(300)	1,300
Inventories	0	0	100
Deferred income taxes	500	(600)	0
Prepaid expenses	(200)	100	0
Accounts payable	200	2,100	(200)
Accrued income taxes	700	100	500
Net cash provided (used) by operating activities	14,000	9,600	7,900
Investing Activities
Purchases of marketable securities	(43,600)	(57,300)	(35,500)
Maturities of marketable securities	35,000	47,900	26,200
Equipment purchases	(1,600)	(800)	(900)
Building purchases	(3,600)	(300)	(500)
Proceeds from disposition of fixed assets	100	0	0
Software purchases	(300)	(1,000)	(100)
Acquisition of other assets	(300)	0	0
Other	(200)	0	(200)
Net cash provided (used) by investing activities	(14,500)	(11,500)	(11,000)
Financing Activities
Proceeds from common stock	4,700	4,200	1,200
Dividends paid	(600)	(600)	(600)
Net cash provided (used) in financing activities	4,100	3,600	600
Summary
Net change in cash and cash equivalents	3,700	1,800	(2,600)
Cash and Cash equivalents at beginning of year	5,900	4,100	6,700
Cash and Cash equivalents at end of year	9,600	5,900	4,100

Cooking Craft
Balance Sheet
			(in thousands)
Period Ending	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015
Cash and Tangible Assets
Cash Assets
Cash and cash equivalents	$ 9,600	$ 5,900	$ 4,100
Marketable securities	5,300	5,200	4,500
Accounts receivable	4,800	3,200	2,900
Prepaid expenses and other current assets	1,000	800	900
Total Cash Assets	20,700	15,100	12,400
Tangible Assets
Land	6,400	6,500	6,600
Furniture and equipment	5,300	6,100	6,000
Leasehold improvements	2,200	1,100	1,100
Less: Accumulated depreciation	(5,200)	(5,100)	(5,000)
Net equipment and improvements	2,300	2,100	2,100
Other assets	1,300	1,000	800
Total Tangible Assets	10,000	9,600	9,500
Total Assets	$ 30,700	$ 24,700	$ 21,900
Liabilities and Stockholders' Equity
Liabilities
Current liabilities
Accounts payable	$ 1,400	$ 1,300	$ 1,200
Accrued liabilities	900	1,000	700
Other current liabilities	1,000	1,200	600
Total current liabilities	3,300	3,500	2,500
Bonds Payable	3,700	2,300	1,700
Total Liabilities	$ 7,000	$ 5,800	$ 4,200
Stockholders' Equity
Common stock	17,800	15,800	15,500
Retained earnings	4,600	2,600	2,100
Total stockholders' equity	22,400	18,400	17,600
Total Liabilities and Stockholders' Equity	$ 29,400	$ 24,200	$ 21,800