Table 4-8 Financial Statements for Sam's Sandwich Delivery Profit Loss (Income Statement) for Six Months Ending 06-30-2013 Revenues Retail Sales Wholesale Sales Total Revenues Cost of Sales Gross Profit Total Operating Expenses Operating Profit Other Income/Expenses Interest Income Interest Expense Depreciation-Store Equipment Total Other Income/Expenses Net Profit Assets Current Assets Change Fund Cash in Bank-Checking Cash in Bank-Savings Accounts Receivable Inventories Total Current Assets Fixed Assets Furniture and Fixtures Less: Accum Depreciation Equipment Less: Accum Depreciation Transportation Equipment Less: Accum Depreciation Total Fixed Assets Total Assets Current Liabilities Accounts Payable Trade Accrued Payroll Taxes Accrued Sales Taxes Total Current Liabilities Long-Term Liabilities Auto Loans Payable Total Long-Term Liabilities Total Liabilities Stockholder's Equity Common Stock Retained Earnings Net Profit/Loss Total Equity $68,283 104,417 52,067 111,117 41 (651) (292) Balance Sheet as of 06-30-2013 4,296 4,110 68,293 67,725 31,168 11,571 $172,700 83,081 (72,376) 8,614 $120,633 $ 9,516 $ (902) 569 8,612 9,622 6,843 2,607 186 568 19,597 6,208 3,464 987 18,626 $8,614 $28,253 $20,351 $48,604 $ 10,659 $18,626 $29,285 19,319

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter15: Financial Statements And Year-end Accounting For A Merchandising Business

Section: Chapter Questions

Problem 4SEB: FINANCIAL RATIOS Based on the financial statements, shown on pages 603604, for McDonald Carpeting...

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Perform a vertical analysis of the income statement. Perform a vertical analysis of the balance sheet. Based on your analysis, would you consider investing in Sam's Sandwich Delivery?

Table 4-8 Financial Statements for Sam's Sandwich Delivery
Profit Loss (Income Statement) for Six Months Ending 06-30-2013
Revenues
Retail Sales
Wholesale Sales
Total Revenues
Cost of Sales
Gross Profit
Total Operating Expenses
Operating Profit
Other Income/Expenses
Interest Income
Interest Expense
Depreciation-Store Equipment
Total Other Income/Expenses
Net Profit
Assets
Current Assets
Change Fund
Cash in Bank-Checking
Cash in Bank-Savings
Accounts Receivable
Inventories
Total Current Assets
Fixed Assets
Furniture and Fixtures
Less: Accum Depreciation
Equipment
Less: Accum Depreciation
Transportation Equipment
Less: Accum Depreciation
Total Fixed Assets
Total Assets
Current Liabilities
Accounts Payable Trade
Accrued Payroll Taxes
Accrued Sales Taxes
Total Current Liabilities
Long-Term Liabilities
Auto Loans Payable
Total Long-Term Liabilities
Total Liabilities
Stockholder's Equity
Common Stock
Retained Earnings
Net Profit/Loss
Total Equity
$68,283
104,417
52,067
111,117
41
(651)
(292)
Balance Sheet as of 06-30-2013
4,296
4,110
68,293
67,725
31,168
11,571
$172,700
83,081
(72,376)
8,614
$120,633
$ 9,516
$
(902)
569
8,612
9,622
6,843
2,607
186
568
19,597
6,208
3,464
987
18,626
$8,614
$28,253
$20,351
$48,604
$10,659
$ 18,626
$29,285
19,319

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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