accounting help for me

balance_sheet_and_income_statement_module_2.xlsx

Income Statement

	Nybrostrand Company		Income Statement
			For the Years Ending Dec 31,2012
	Revenue		2012
		Sales revenue	586,000
		(Less sales returns and allowances)
		Service revenue
		Interest revenue
		Other revenue
	Total Revenues		586,000
[42]	Expenses
		Advertising	4,500
		Bad debt
		Commissions
		Cost of goods sold	307,000
		Depreciation	24,350
		Employee benefits
		Furniture and equipment
		Insurance	1,400
		Interest expense
		Maintenance and repairs
		Office supplies
		Payroll taxes
		Rent	28,000
		Research and development
		Salaries and wages	78,500
		Software
		Travel
		Utilities	6,700
		Web hosting and domains
		Other	16,900
	Total Expenses		467,350
		Net Income Before Taxes	118,650
		Income tax expense
	Income from Continuing Operations		118,650
		{42}
	Below-the-Line Items
		Income from discontinued operations
		Effect of accounting changes
		Extraordinary items
	Net Income		118,650

	Nybrostrand Company		Balance Sheet
			Date: Dec 31,2012
	Assets		2012
	Current Assets
		Cash	30,000
		Accounts receivable	36,500
		Inventory	34,000
		Prepaid expenses
		Short-term investments
		Total current assets	100,500
	Fixed (Long-Term) Assets
		Long-term investments
		Property, plant, and equipment	415,000
		(Less accumulated depreciation)
		Intangible assets
		Total fixed assets	415,000
	Other Assets
		Deferred income tax
		Other
		Total Other Assets	-
	Total Assets		515,500
[42]	Liabilities and Owner's Equity
	Current Liabilities
		Accounts payable	78,000
		Short-term loans
		Income taxes payable
		Accrued salaries and wages
		Unearned revenue
		Current portion of long-term debt
		Total current liabilities	78,000
	Long-Term Liabilities
		Long-term debt	127,000
		Deferred income tax
		Other
		Total long-term liabilities	127,000
	Owner's Equity
		Owner's investment	50,000
		Retained earnings	250,500
		Other	10,000
		Total owner's equity	310,500
	Total Liabilities and Owner's Equity		515,500
	Common Financial Ratios
	Debt Ratio (Total Liabilities / Total Assets)		0.40
	Current Ratio (Current Assets / Current Liabilities)		1.29
	Working Capital (Current Assets - Current Liabilities)		22,500
	Assets-to-Equity Ratio (Total Assets / Owner's Equity)		1.66
	Debt-to-Equity Ratio (Total Liabilities / Owner's Equity)		0.66

	Debt ratio of Nybrostrand Company is very strong, as the liabilities over assets are not even half of the asstes,
	Current ratio should be 2:1 as per industry standards but the same is slightly low,
	Working Capital of the company is quite good
	Asset to equity ratio is acceptable
	Debt to equity ratio is also quite favourable,