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Runningi Head:i FINANCIALi STATEMENTSi i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i 1
Notesi toi Financiali Statements
ACC309
Southerni Newi Hampshirei University
Junei 20,2022
FINANCIALi STATEMENTSi i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i 2
Peytoni Approved’si financiali statementsi werei constructedi oni thei basisi ofi thei particulari
accountingi methodi thati wasi ascertainedi wouldi bei viablei andi relevanti fori thei businessi entity.i Thei
companyi hasi witnessedi substantiali growthi ini recenti years.i However,i thei preliminaryi profiti andi lossi
accounti (incomei statement)i andi balancei sheeti havei revealedi thati thisi year’si performancei mighti bei
dissimilar.i Asi peri thei preliminaryi balancei sheeti ofi Peytoni Approved,i thei totali asseti isi equali toi thei
totali liabilitiesi alongi withi thei companyi equity,i whichi comesi toi USDi 19,537,963.i Accordingi toi thei
primaryi profiti andi lossi account,i thei companyi hasi ai significanti amounti ofi grossi profiti worthi USDi
22,962.051.i Oni thei otheri hand,i thei operatingi expensesi ofi thei firmi isi $i 6,288,160.i Iti impliesi thati iti isi
merelyi 27i percenti ofi itsi entirei grossi profiti ofi thei firm.i Eveni afteri adjustingi thei incomei tax,i thei
company’si neti profiti isi highi ati USDi 12,505,418.i Iti comesi toi aroundi 54i %i ofi thei company’si grossi
profits.i Asi thei accountanti ofi Peytoni Approved,i Ii thinki thei companyi hasi beeni showcasingi
commendablei financiali performancei sincei itsi neti profiti isi morei thani halfi itsi grossi profit.i Asi peri thei
preliminaryi retainedi earningsi statementi ofi thei firm,i thei closingi figurei ofi thei retainedi earningsi isi
USDi 9,418,541i andi iti isi ai positivei sign.i i
Thei positioni thati wasi revealedi ini thei preliminaryi balancei sheeti ofi thei businessi goti mei
worriedi sincei thei companyi onlyi hadi amplei assetsi fori coveringi thei liabilitiesi asi welli asi equity.i Buti iti
wouldi havei anyi additionali fundsi ini casei anyi contingencyi occurred.i However,i thei solidi financiali
positioni ofi Peytoni Approvedi thati wasi revealedi byi thei profiti andi lossi statementi asi welli asi thei
statementi ofi retainedi earningsi easedi thei tension.i
Thei revisedi balancei sheet,i profiti andi lossi account,i asi welli asi statementi ofi retainedi earningsi
havei confirmedi thei informationi thati wasi capturedi ini thei preliminaryi financiali statementsi ofi thei
company.i Certaini actuali numbersi ini thei firm’si financiali statementsi arei higheri asi comparedi toi thei
estimatedi numbers.i Fori instance,i ini actuality,i thei neti incomei ofi thei firmi isi somewhati loweri ati USDi
FINANCIALi STATEMENTSi i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i i 3
12,321,957,i buti thei grossi incomei isi USDi 12,586,957.i Thei firm’si retainedi earningsi numberi isi
favourablei thani thei estimatedi valuei sincei iti standsi ati USDi 9,500,080.i Thei company’si revisedi
balancei sheeti hasi revealedi thati itsi totali equityi isi USDi 18,955,497i andi iti easilyi surpassesi thei totali
liabilityi worthi USDi 8,209,473.i Iti isi ai goodi signi sincei iti indicatesi thati ini casei ofi anyi contingency,i
Peytoni Approvedi hasi amplei fundsi toi coveri itsi financiali lossesi ori obligations.i Thei statementi ofi
earningsi peri sharei hasi revealedi thati thei firmi hasi robusti earningsi peri sharei (EPS).i Thei firm’si basici
earningsi peri sharei isi USDi 12.27.i Ini casei ofi thei conversioni ofi thei preferencei shares,i thei EPSi isi USDi
1.96,i andi ifi thei conversioni ofi alli corporatei bondsi arei made,i thei EPSi isi USDi 3.96.i Iti impliesi thei firmi
isi offeringi ai decenti returni toi itsi shareholdersi oni theiri investment,i irrespectivei ofi thei EPSi
computation.i Thei accountingi principlesi thati arei adoptedi arei uniformi withi thati ofi thei formeri periodi
unlessi ai statementi toi thei contraryi isi presented.i
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