question archive Some recent financial statements for Smolira Golf Corp
Subject:FinancePrice: Bought3
Some recent financial statements for Smolira Golf Corp. follow. |
SMOLIRA GOLF CORP. 2014 and 2015 Balance Sheets |
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Assets | Liabilities and Owners’ Equity | |||||||||||||||
2014 | 2015 | 2014 | 2015 | |||||||||||||
Current assets | Current liabilities | |||||||||||||||
Cash | $ | 24,096 | $ | 24,600 | Accounts payable | $ | 23,684 | $ | 27,600 | |||||||
Accounts receivable | 12,948 | 15,700 | Notes payable | 14,000 | 11,300 | |||||||||||
Inventory | 26,242 | 27,600 | Other | 12,071 | 18,100 | |||||||||||
Total | $ | 63,286 | $ | 67,900 | Total | $ | 49,755 | $ | 57,000 | |||||||
Long-term debt | $ | 74,000 | $ | 82,000 | ||||||||||||
Owners’ equity | ||||||||||||||||
Common stock and paid-in surplus | $ | 48,000 | $ | 48,000 | ||||||||||||
Accumulated retained earnings | 221,226 | 242,000 | ||||||||||||||
Fixed assets | ||||||||||||||||
Net plant and equipment | $ | 329,695 | $ | 361,100 | Total | $ | 269,226 | $ | 290,000 | |||||||
Total assets | $ | 392,981 | $ | 429,000 | Total liabilities and owners’ equity | $ | 392,981 | $ | 429,000 | |||||||
SMOLIRA GOLF CORP. 2015 Income Statement |
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Sales | $ | 414,290 | |||||
Cost of goods sold | 265,500 | ||||||
Depreciation | 57,700 | ||||||
Earnings before interest and taxes | $ | 91,090 | |||||
Interest paid | 14,800 | ||||||
Taxable income | $ | 76,290 | |||||
Taxes (40%) | 30,516 | ||||||
Net income | $ | 45,774 | |||||
Dividends | $ | 25,000 | |||||
Retained earnings | 20,774 | ||||||