FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Cash Flow
Balance Sheet
Cash
Accounts Receivable
Inventory
CURRENT ASSETS
Fixed Assets:
Gross
Accum. Depreciation
Net
TOTAL ASSETS
BISON INC.
Liabilities
Accounts Payable
Salary Payable
CURRENT LIABILITIES
Long-Term Debt
Total Liabilities
Common Size
Stockholder's Equity
Common Stock
Retained Earnings
Total Stockholders' Equity
Total Liabilities & Equity
2020
18,523
4,741
11,775
35,039
59,888
-22,200
37,688
72,727
1,856
2,051
3,907
8,620
12,527
15,000
45,200
60,200
72,727
2020
Common Size
2021
38,227
5,784
13,888
57,899
72,000
-26,854
45,146
103,045
1,350
1,500
2,850
10,200
13,050
25,000
64,994.872
89,994.872
103,044.872
2021
Common Size
BISON INC.
Income Statement
Revenue
COGS
Gross Profit
Depreciation Expense
Expenses
EBIT
Interest
EBT
Tax
Net Income
Dividends
Add to R/E
2021
120,566
68,990
51,576
4,654
17,855
33,721
2,400
31,321
6,577.41
24,743.59
4,948.718
19,794.872
2021
Common Size
Transcribed Image Text:Cash Flow
Income Statement
Revenue
COGS
Gross Profit
Common Size
BISON INC.
Dividends
Add to R/E
Depreciation Expense
Expenses
EBIT
Interest
EBT
Tax
Net Income
2021
2021 Common Size
120,566
68,990
51,576
4,654
17,855
33,721
2,400
31,321
6,577.41
24,743.59
4,948.718
19,794.872
Balance Sheet
Cash
Accounts Receivable
Inventory
CURRENT ASSETS
Fixed Assets:
Gross
Accum. Depreciation
Net
TOTAL ASSETS
Liabilities
Accounts Payable
Salary Payable
CURRENT LIABILITIES
Long-Term Debt
Total Liabilities
Stockholder's Equity
Common Stock
Retained Earnings
Total Stockholders' Equity
Total Liabilities & Equity
INDUSTRY AVERAGES
35.01%
2.95%
15.26%
53.22%
75.01%
-28.23%
46.78%
100.00%
5.26%
4.68%
9.94%
18.42%
28.36%
22.41%
49.23%
71.64%
100.00%
Income Statement
Revenue
COGS
Gross Profit
Depreciation Expense
Expenses
EBIT
Interest
EBT
Tax
Net Income
100.00%
40.01%
59.99%
10.58%
11.45%
37.96%
5.87%
32.09%
6.04%
26.05%
Expert Solution
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Explanation -
The Statement of Financial Position -
The statement of financial position is the position of the assets as on the balance sheet date.
We will get use following formula -
For Accounts Receivable (Current Year Amount X 100% / Total Assets)
The Statement of Comprehensive Income -
The statement of comprehensive income is the profit earned and loss incurred in the period end.
If we evaluate the financial analysis of the statement of comprehensive income then we have to use the following formula -
Total Sales will be considered as 100% and other Income Statement items will compare the other Sales items with them.
We will get use following formula -
For Cost of goods sold (Cost of goods sold X 100% / Sales)
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