Ratios
Mermaid
2008_financial_statements-1.docBalance Sheet 12/31/2008
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Current Assets |
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Cash |
$818,440.68 |
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Accounts Receivable |
$812,395.13 |
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Inventory |
$205,934.30 |
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Total Current Assets |
$1,836,770.12 |
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Fixed Assets |
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Vehicles |
$268,750.00 |
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Tools |
$110,953.00 |
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Less Accumulated Depreciation |
($284,431.95) |
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Total Fixed Assets |
$95,271.05 |
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Total Assets |
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$1,932,041.17 |
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Liabilities |
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Current Liabilities |
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Accrued Payroll Taxes |
$36,007.33 |
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Accounts Payable |
$270,798.38 |
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Total Current Liabilities |
$306,805.71 |
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Long-Term Liabilities |
$0.00 |
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Total Liabilites |
$306,805.71 |
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Stockholders Equity |
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Common Stock (1,000,000 authorized shares at $1 par) |
$70,000.00 |
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Retained Earnings |
$1,062,095.71 |
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Net Income |
$493,139.75 |
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Total Stockholders Equity |
$1,625,235.46 |
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Total Liabilities & Stockholders Equity |
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$1,932,041.17 |
Cash Flow Statement 1/1/2008 - 12/31/2008
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Cash Flow from Operating Activities |
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Net Income |
$493,139.75 |
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Adjustments to Net Income |
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Decrease (Increase) in Accounts Receivables |
($1,347.68) |
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Increase (Decrease) in Liabilities (A/P, Taxes Payable) |
($59,980.58) |
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Net Cash Flow from Operating Activities |
$431,811.49 |
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Cash Flow from Investing Activities |
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Capital Expenditures |
$0.00 |
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Depreciation and Amortization |
$94,925.75 |
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Decrease (Increase) in Inventories |
$0.00 |
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Net Cash Flow from Investing Activities |
$94,925.75 |
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Cash Flow from Financing Activities |
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Dividends Paid |
$0.00 |
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Sale (Repurchase) of Stock |
$0.00 |
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Increase (Decrease) in Debt |
$0.00 |
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Other cash flows from financing activities |
$0.00 |
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Net Cash Flow from Financing Activities |
$0.00 |
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Net Increase (Decrease) in Cash and Cash Equivalents/td> |
$526,737.24 |
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Cash at beginning of period |
$291,703.44 |
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Cash at end of period |
$818,440.68 |
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Income Statement 1/1/2008 - 12/31/2008
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Revenue |
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$3,249,580.53 |
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Direct Expenses |
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Salaries & Wages |
$487,437.08 |
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Vehicle Maintenance |
$64,991.61 |
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Fuel |
$20,449.80 |
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Traps & Chemicals |
$1,378,203.63 |
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$1,951,082.12 |
$1,951,082.12 |
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Indirect Expenses |
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Rent |
$39,338.17 |
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Licenses |
$2,480.00 |
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Insurance |
$103,613.43 |
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Administrative Salaries |
$150,250.00 |
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Commissions |
$16,991.61 |
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Payroll Taxes |
$72,014.66 |
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Legal Expenses |
$12,000.00 |
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Accounting Fees |
$7,000.00 |
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Office Supplies |
$7,800.00 |
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Utilities |
$10,806.40 |
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Advertising Expenses |
$116,000.00 |
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Bad Debts |
$122,138.64 |
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Depreciation Expense |
$94,925.75 |
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Misc. Expense |
$50,000.00 |
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$805,358.66 |
$805,358.66 |
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Total Expenses |
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$2,756,440.78 |
$2,756,440.78 |
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Net Income |
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$493,139.75 |
