Acc 200 week 7

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Financial Statements

ACC201
Final Project
Current year: Current year:
Sales 540,000 Operating expenses 229,000
Inventory purchases 162,000 Cash 33,000
Sales and marketing expenses 49,000 Prepaid expenses 9,000
Accounts receivable 23,000 Note payable - current 10,000
Accumulated depreciation 23,000 Administrative expenses 60,000
Accrued expenses 5,000 Common stock 50,000
Interest expense 5,000 Equipment 108,000
Inventory - current year 25,000 Accounts payable 13,000
Dividends none Long-term note payable 45,000
Shares outstanding 50,000 Supplies 11,000
Prior year:
Accounts receivable 18,000
Inventory 23,000 Beginning inventory
Total assets 174,000
Common stock 50,000 Goods available
Retained earnings 26,000
Shares outstanding 50,000 Cost of goods sold
The Coffee Hut The Coffee Hut
Balance Sheet Income Statement
Current Current
Current assets: Revenue: Ratio Analysis
Current ratio
Quick ratio
Gross profit Accounts receivable turnover
Inventory turnover
Expenses: Debt to assets
Total current assets Debt to equity
Property, plant and equipment: Return on sales
Asset turnover
Total expenses Return on investment
Net equipment Operating income Return on equity
Other expenses: Earnings per share
Total assets
Net income
Current liabilities:
If cost of goods sold is the only variable cost, and the contribution margin
per drink was $3.40, how many coffee drinks were sold during the year,
and what was the average selling price per drink?
Total current liabilities
Long-term liabilities: Number of drinks sold
Average selling price
Total liabilities
Stockholders' equity:
Total stockholders' equity
Total liabilities and equity