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CERVEZA CORPORATION
Comparative Income Statement
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This Year |
Last Year |
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Sales (all on account) ............................................ $452,000 |
$388,000 |
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Less cost of goods sold ......................................... 260,000 |
221,000 |
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Gross margin ......................................................... 192,000 |
167,000 |
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Less operating expenses ........................................ 104,000 |
89,000 |
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Net operating income ............................................ 88,000 |
78,000 |
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Less interest expense ............................................. 8,000 |
8,000 |
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Net income before taxes ........................................ 80,000 |
70,000 |
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Less income taxes (30%) ...................................... 24,000 |
21,000 |
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Net income ............................................................ $ 56,000 |
$ 49,000 |
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CERVEZA CORPORATION |
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Comparative |
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This Year |
Last Year |
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Assets |
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Current assets: |
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Cash .................................................................... |
$ 42,000 |
$ 21,000 |
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Marketable securities ......................................... |
32,000 |
28,000 |
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84,000 |
102,000 |
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Inventory ............................................................ |
96,000 |
70,000 |
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Prepaid expenses ................................................ |
11,000 |
9,000 |
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Total current assets ................................................ |
265,000 |
230,000 |
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Plant and equipment, net ....................................... |
410,000 |
380,000 |
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Total assets ............................................................ |
$675,000 |
$610,000 |
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Liabilities and |
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Liabilities: ............................................................. |
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Current liabilities ................................................ |
$115,000 |
$ 90,000 |
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Bonds payable, 10% ........................................... |
80,000 |
80,000 |
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Total liabilities ...................................................... |
195,000 |
170,000 |
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Stockholders’ equity: |
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100,000 |
100,000 |
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Common stock, $5 par ....................................... |
300,000 |
300,000 |
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80,000 |
40,000 |
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Total stockholders’ equity ..................................... |
480,000 |
440,000 |
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Total liabilities and stockholders’ equity .............. |
$675,000 |
$610,000 |
What is Cerveza’s
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