Chemalite, Inc. P & L from January 1, 2003 to June 30, 2003
Sales Cost of Sales Gross Profit Depreciation Expenses Org Cost W ritten Off Expense Net Income
$0 $0 $0 $0 $0 $0
Chemalite, Inc. Cash Flows Statement from January 1, 2003 to June 30, 2003 Operating Activities Activities Net Income (PBT) Depreciation and Amortization
0 0
Change in Account Receivable Change in Inventory Operating Expenses Net Cash provided by Operating Activities
-75000 -7500 -82500
INVESTING ACTIVITIES Purchase of equipment Net Cash used by Investing Activities
-62500 -62500
FINANCING ACTIVITIES Net Cash provided by Financing Activities Total CASH and CASH EQUIVALENTS
0 -145000
Cash balance on Jan 1, 2003
375000
End of Period
230000
Chemalite, Inc. Balance Sheet for June 30, 2003
Liabilities, Borrwoing and Shareholders Equity Shareholders' Equity Common Stock
$500,000
Retained Earnings Total shareholders' equity Total liabilities and shareholders' equity
$0 $500,000 $500,000
Borrowings
$0
Current Liabilities Accounts payable Taxes payable Total Current Liabilities
$0 $0 $0
Long-term liabilities Long-term loans
$0
Total liabilities
$500,000
Assets Fixed Assets Equipment Patent Total fixed assets
$62,500 $125,000 $187,500
Deferred Rev Expenses Org Cost
$7,500
Current Assets Cash Accounts Receivable Inventory Total current assets
Total assets
$230,000 $0 $75,000 $305,000
$500,000
The most imp acc convention or assumption of financial is matching principle, matching pronciple states that the associated and relevant cost should be recognised in the same period in which the related revenues are generated and recognised.
Chemalite, Inc. sh Flows Statement from January 1, 20
Cash flows from Operating Activities PBT Cash collections Cash payments for purchases Cash payments for operating expense Interest and taxes Total cash payments Net cash provided by operating activities Cash flows from Investing Purchase of hard assets (machinery) Total Cash flows from investing Cash flows from Financing Sale of stock Total cash flow from financing Cash Summary Cash on January 1, 2003 Net Change in Cash
Cash on June 30, 2003
3 to June 30, 20
$0 ($75,000) ($7,500) $0 ($82,500) ($82,500)
($62,500) ($62,500)
$375,000 $375,000
$375,000 ($145,000) $230,000
Chemalite, Inc. Income Statement for the year ending Deceber 31, 2003 Sales
$754,500
Cost of Sales Materials
($195,000)
Manufacturing
($350,000)
Total COGS
($545,000)
Gross Profit
$209,500
Gross Margin
27.77%
Indirect Operating Expense
($126,250)
EBITDA
$83,250
EBITDA Margin
11.03%
Dep
($10,625)
Amo
($25,000)
Amo of Org Cost
($1,500)
Depreciation Expense Total
($37,125)
EBIT
$46,125
Operating Profit Margin or EBIT Margin
6.11%
Interest Expense
($750)
PBT
$45,375
Income Taxes
$13,613
PAT
$31,763
Net Profit Margin
4.21%
Chemalite, Inc. Balance Sheet as at Deceber 31, 2003 Liabilities and Shareholders Equity Shareholders' Equity Common Stock Retained Earnings Total liabilities and shareholders' equity
$500,000 $31,763 $531,763
Borrowings Long-term loans
$0
Liabilities Current Liabilities Accounts payable Taxes payable Total Current Liabilities
Total liabilities + Eq
$0 $13,613 $13,613
$545,375
Assets Fixed Assets Equipment
$201,875
Patent
$100,000
Total fixed assets
$301,875
Deferred Rev Expenses Org Cost
$6,000
Current Assets Cash
$113,000
Accounts Receivable
$69,500
Inventory
$55,000
Total current assets
$237,500
$545,375
Total assets
Chemalite, Inc. Cash Flows Statement Deceber 31, 2003 PBT
$45,375
Depreciation and Amortization
$37,125
+- Working Cap Change in Account Receivable
($69,500)
Change in Inventory
($55,000)
Net Cash provided by Operating Activities
($42,000)
INVESTING ACTIVITIES Purchase of equipment Legal Charges Net Cash used by Investing Activities
-212500 -7500 -220000
FINANCING ACTIVITIES Issue of Equity Shares
375000
Net Cash provided by Financing Activities
375000
End of Period
$113,000
-195000
-126250
Legal + Advert + Corp Salary
-10625
M/c = 62500 + 150000
30% Assumption
Less Tax
212500
37500
Less Dep Less Amo
Equals Cash at Balance Sheet
