Balance Sheets As at August 31 (in $000) Current Assets: Cash Accounts

sample-company.xls

Sample - Balance Sheet


Sample Company
Balance Sheets
As at August 31 (in $000)
	2003	2004
Current Assets:
Cash	$1.20	$1.30
Accounts receivable	9.2	43.2
Inventory	1,148.10	1,155.40
Prepaid expenses	5.3	6
Total current assets	1,163.80	1,205.90
Investments	44	529.7
Fixed Assets:
Land	25.5	25.5
Buildings	374	591.1
Furniture and fixtures	61.9	158.5
Fixed assets, cost	461.4	775.1
Less: accumulated amortization	167.2	221
Total fixed assets (net)	294.2	554.1
Total Assets	$1,502.00	$2,289.70
Liabilities & Equity
Current liabilities:
Accounts payable	$379.80	$223.70
Line of credit	133	192.7
Income taxes payable	123.7	2.5
Current ptn of LTD	9.9	76
Total current liabilities	646.4	494.9
Bank loan (due December 31, 2010)	0	310.6
Other long-term loans	152.8	727.7
Total liabilities	799.2	1,533.20
Equity
Preferred shares	67.4	82.4
Common shares	42.6	52.6
Retained earnings	592.8	621.5
Total equity	702.8	756.5
Total Liabilities & Equity	$1,502.00	$2,289.70

Sample Company
Income Statements
For Years Ending August 31 (in $000)
	2003	2004
Sales	$1,721.50	$1,982.80
Cost of goods sold	774	945.6
Gross margin	947.5	1,037.20
Operating expenses:
Salaries and benefits	384.1	467.2
Administrative expenses	98.6	119.2
Advertising	111.4	139.4
Amortization	44.6	53.8
Total operating expenses	638.7	779.6
Operating earnings (EBIT)	308.8	257.6
Less: interest expense	34.8	152.1
Earnings before tax	274	105.5
Income taxes	68.4	26.4
NIAT	$205.60	$79.10
1) In 2003, the company had 12,000 preferred shares and 122,300 common shares outstanding. In 2004, Sample Company sold 1,500 preferred and 800 common shares. The company pays a dividend of $1 per share on the preferred shares. In 2003, Sample Company paid common share dividends of $36,690.
2) Sample Company is a CCPC and is a manufacturer. The amount of CCA the company could claim in 2003 and 2004 was $36,120 and $71,485 respectively.