Description of this paper

Kudler Fine Foods_Vertical analysis

Description

solution


Question

Question;Kudler Fine Foods;Balance Sheet;December 31, 2003;Assets;Current Assets;Cash;$1,430,000;Accounts Receivable;$86,000;Less: Reserve for Bad Debts;$0;$86,000;$86,000;Merchandise Inventory;$429,000;Prepaid Expenses;$26,000;Notes Receivable;$0;Total Current Assets;$1,971,000;$1,971,000;Fixed Assets;Vehicles;$63,000;Less: Accumulated Depreciation;$27,750;$35,250;$35,250;Furniture and Fixtures;$435,000;Less: Accumulated Depreciation;$186,000;$249,000;$249,000;Equipment;$634,000;Less: Accumulated Depreciation;$214,000;$420,000;$420,000;Total Fixed Assets;$704,250;$704,250;Other Assets;Goodwill;$0;Total Other Assets;$0;$0;Total Assets;$2,675,250;Liabilities and Capital;Current Liabilities;Accounts Payable;$96,500;Sales Tax Payable;$3,950;Payroll Taxes Payable;$15,840;Accrued Wages Payable;$0;Unearned Revenues;$0;Short-Term Notes Payable;$0;Short Term Bank Loan Payable;$0;Total Current Liabilities;$116,290;$116,290;Long Term Liabilities;Long-Term Notes Payable;$630,000;Total Long Term Liabilities;$630,000;$630,000;Total Liabilities;$746,290;$746,290;Capital;Owner's Equity;$746,290;Net Profit;$1,182,670;Total Capital;$1,928,960;$1,928,960;Total Liabilities and Capital;$2,675,250;Income Statement PDF Version;Kudler Fine Foods;Income Statement;For the Year Ended December 31, 2003;Revenue;Gross Sales;$10,804,000;Less: Sales Returns and Allowances;$7,800;Net Sales;$10,796,200;Costs of Goods Sold;Beginning Inventory;$467,890;Add;Purchases;$3,752,891;Freight In;$165,010;Direct Labor;$3,769,591;Indirect Expenses;$748,539;$8,903,921;Less: Ending Inventory;$429,090;Cost of Goods Sold;$8,474,831;$8,474,831;Gross Profit(Loss);$2,321,369;Expenses;Advertising;$263,000;Amortization;$2,700;Bad Debts;$2,300;Bank Charges;$19,258;Charitable Contributions;$5,000;Bonuses;$65,000;Systems & Network Contract;$82,000;Credit Card Fees;$125;HR Payroll Outsource;$8,500;Depreciation;$27,750;Dues and Subscriptions;$29,403;Insurance;$65,000;Custodial Contract;$48,000;Interest;$63,768;Maintenance Contract;$36,000;Miscellaneous;$1,100;Office Expenses;$8,300;Operating Supplies;$5,500;Software Licenses;$8,200;Permits and Licenses;$3,500;Postage;$46,000;Professional Fees;$32,157;Office Lease;$63,000;Repairs;$850;Telephone;$16,500;Travel;$4,500;Utilities;$7,900;Vehicle Expenses;$11,458;Wages;$725,650;Total Expenses;$1,652,49;$1,652,49;Net Operating Income;$668,950;Other Income;Gain (Loss) on Sale of Assets;$0;Interest Income;$7,845;Total Other Income;$7,845;$7,845;Net Income (Loss);$676,795;Prepare Vertical analysis of Income;statement and Balance sheet.

 

Paper#37312 | Written in 18-Jul-2015

Price : $20
SiteLock