CARDINAL FINANCIAL STATEMENTS in USD CY 2018 CY 2019 CY 2020 INCOME STATEMENT Revenue Interest Income Fee Income Financial Revenue 1,377,000 5,963,000 11,460,000 280,000 55,000 11,515,000 1,377,000 6,243,000 Financial Expense Interest Expense Payment Processing Expense Total Financial Expense (305,000) (509,000) (1,039,000) (250,000) (416,000) (1,026,000) (555,000) (925,000) (2,065,000) Net Financial Income 822,000 5,318,000 9,450,000 Operating Expenses Personnel Expense Banking Fee Marketing Sales Professional Services Office Travel & Transport Communication (1,045,000) (3,482,000) (44,000) (1,510,000) (32,000) (69,000) (235,000)| (7,000) (15,000) (52,000) (12,000) (125,000) (62,000) (53,000) (71,000) (6,000) (2,000) (2,000) (3,000) (11,000) (32,000) (51,000) (69,000) Other Administrative (147,000) (226,000) Total Operating Expense (1,174,000) (2,101,000) (4,088,000) (352,000) Net Operating Income Foreign Expense Gain / (Losses) Earnings Before Taxes |Тахes 3,217,000 2,000 5,362,000 (75,000) (352,000) 3,219,000 5,287,000 (482,850) (793,050) Net Income (352,000) 2,736,150 4,493,950
CARDINAL FINANCIAL STATEMENTS in USD CY 2018 CY 2019 CY 2020 INCOME STATEMENT Revenue Interest Income Fee Income Financial Revenue 1,377,000 5,963,000 11,460,000 280,000 55,000 11,515,000 1,377,000 6,243,000 Financial Expense Interest Expense Payment Processing Expense Total Financial Expense (305,000) (509,000) (1,039,000) (250,000) (416,000) (1,026,000) (555,000) (925,000) (2,065,000) Net Financial Income 822,000 5,318,000 9,450,000 Operating Expenses Personnel Expense Banking Fee Marketing Sales Professional Services Office Travel & Transport Communication (1,045,000) (3,482,000) (44,000) (1,510,000) (32,000) (69,000) (235,000)| (7,000) (15,000) (52,000) (12,000) (125,000) (62,000) (53,000) (71,000) (6,000) (2,000) (2,000) (3,000) (11,000) (32,000) (51,000) (69,000) Other Administrative (147,000) (226,000) Total Operating Expense (1,174,000) (2,101,000) (4,088,000) (352,000) Net Operating Income Foreign Expense Gain / (Losses) Earnings Before Taxes |Тахes 3,217,000 2,000 5,362,000 (75,000) (352,000) 3,219,000 5,287,000 (482,850) (793,050) Net Income (352,000) 2,736,150 4,493,950
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Based on the Cardinal Credit Financial Statement below, write a bulleted list analysis that includes:
a) Possible explanation for the changes from year to year that can be seen.
Transcribed Image Text:CARDINAL FINANCIAL STATEMENTS
in USD
CY 2018
CY 2019
CY 2020
INCOME STATEMENT
Revenue
Interest Income
Fee Income
Financial Revenue
11,460,000
55,000
1,377,000
5,963,000
280,000
6,243,000
1,377,000
11,515,000
Financial Expense
(1,039,000)
Interest Expense
Payment Processing Expense
Total Financial Expense
(305,000)
(250,000)
(509,000)
(416,000)
(925,000)
(1,026,000)
(2,065,000)
(555,000)
Net Financial Income
822,000
5,318,000
9,450,000
Operating Expenses
Personnel Expense
Banking Fee
Marketing
Sales
Professional Services
Office
Travel & Transport
Communication
Other Administrative
Total Operating Expense
(1,045,000)
(1,510,000)
(3,482,000)
(7,000)
(15,000)
(52,000)
(12,000)
(32,000)
(44,000)
(69,000)
(125,000)
(235,000)
(62,000)
(53,000)
(71,000)
(6,000)
(3,000)
(69,000)
(226,000)
(2,000)
(2,000)
(11,000)
(51,000)
(32,000)
(147,000)
(1,174,000)
(2,101,000)
(4,088,000)
Net Operating Income
Foreign Expense Gain / (Losses)
Earnings Before Taxes
|Тахes
(352,000)
3,217,000
5,362,000
2,000
(75,000)
(352,000)
3,219,000
5,287,000
(482,850)
(793,050)
Net Income
(352,000)
2,736,150
4,493,950
Transcribed Image Text:BALANCE SHEET
Assets
Cash and Equivalents
Gross Loans
Fixed Assets
Total Assets
1,403,000
228,000
2,719,150
৪,059,100|
7,731,000
8,551,000
113,000
1,398,000
1,631,000
10,563,150
18,008,100
Liabilities
Payables
Borrowings
Total Liabilities
468,000
5,217,000
2,919,000
8,136,000
4,717,000
5,185,000
Equity
Retained Earnings
Share Capital
Total Equity
(352,000)
1,983,000
2,384,150
2,994,000
5,378,150
6,878,100
2,994,000
1,631,000
9,872,100
CASHFLOW STATEMENT
Cashflow from Operations
Net Income
Increase / (Decrease) in Payables
Loans Advanced
Total Cashflow from Operations
(352,000)
2,736,150
4,493,950
468,000
4,749,000
(228,000)
(580,000)
(7,503,000)
(820,000)
(4,298,850)
8,422,950
Cashflow from Invosting
Increase / (Decrease) in Fixed Assets
Total Cashflow from Investing
(113,000)
(113,000)
(1,285,000)
(1,285,000)
Cashflow from Finanncing
Increase/ (Decrease) in Borrowings
4717000
-1798000
Equity Issuance
1,983,000
1,011,000
Total Cashiflow from Financing
1,983,000
5,728,000
(1,798,000)
Beginning Cash
Net Change in Cash
148,012
1,254,988
1,403,000
1,316,150
2,719,150
5,339,950
Ending Cash
1,403,000
2,719,150
8,059,100
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