INCOME STATEMENT JUST STUFF, INC. FOR THE YEARS ENDED DEC. 31 2019 & 2020 2019 2020 Sales Revenue P2250.000 P2.200,000 Less: Cost of Goods Sold L800.000 Gross Profits Less: Operating Expenses Operating Profits Less: Interest Expense Net Profits Before Taxes Less: Tases (30%) Net Profits After Taxes P450,000 P400,000 300.000 280.000 P150,000 15.000 P135.000 40.500 P94500 P120,000 15.000 P105,000 31500 P73500 BALANCE SHEET JUST STUFF, INc AS OF DEC. 31 2019 A 2020 2019 2020 Assets Cash Accounts recelvable P95.000 P100.000 237,000 202.000 Inventories 243.000 253.000 Total current assets Gross fixed assets Less Accumulated depreciation Net fied assets Total assets Liabilities and stockholders' equity Current labilities Accounts payable Notes payable Accruals PS75.000 PSOS.000 500.000 500.000 25.000 75.000 P425.000 PL000.000 P425.000 P930,000 P9.000 $109.000 169.000 154.000 87.000 P345.000 103.500 $366.500 Total current liabilities Long term debe To 150.000 P495.000 150.000 PS16.500 bilities Stockholders equity Common stock, at P5 par Retained earnings 285.000 300.000 111.500 PA13500 220.000 Total stockholders equity Total labilites and PS05.000 PL000.000 P930.000 stockholders equity
INCOME STATEMENT JUST STUFF, INC. FOR THE YEARS ENDED DEC. 31 2019 & 2020 2019 2020 Sales Revenue P2250.000 P2.200,000 Less: Cost of Goods Sold L800.000 Gross Profits Less: Operating Expenses Operating Profits Less: Interest Expense Net Profits Before Taxes Less: Tases (30%) Net Profits After Taxes P450,000 P400,000 300.000 280.000 P150,000 15.000 P135.000 40.500 P94500 P120,000 15.000 P105,000 31500 P73500 BALANCE SHEET JUST STUFF, INc AS OF DEC. 31 2019 A 2020 2019 2020 Assets Cash Accounts recelvable P95.000 P100.000 237,000 202.000 Inventories 243.000 253.000 Total current assets Gross fixed assets Less Accumulated depreciation Net fied assets Total assets Liabilities and stockholders' equity Current labilities Accounts payable Notes payable Accruals PS75.000 PSOS.000 500.000 500.000 25.000 75.000 P425.000 PL000.000 P425.000 P930,000 P9.000 $109.000 169.000 154.000 87.000 P345.000 103.500 $366.500 Total current liabilities Long term debe To 150.000 P495.000 150.000 PS16.500 bilities Stockholders equity Common stock, at P5 par Retained earnings 285.000 300.000 111.500 PA13500 220.000 Total stockholders equity Total labilites and PS05.000 PL000.000 P930.000 stockholders equity
Fundamentals of Financial Management (MindTap Course List)
15th Edition
ISBN:9781337395250
Author:Eugene F. Brigham, Joel F. Houston
Publisher:Eugene F. Brigham, Joel F. Houston
Chapter4: Analysis Of Financial Statements
Section: Chapter Questions
Problem 24P: Income Statement for Year Ended December 31, 2018 (Millions of Dollars) Net sales 795.0 Cost of...
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Part I. Perform a vertical analysis in Just Stuff's Income Statement and
Part II. Perform a horizontal analysis in Just Stuff's Income Statement and Balance Sheet and make conclusions based on your computation.
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