XYZ Company, INC.
Balance Sheet
For Year Ending December 31, 20XX
ASSETS
Current Assets
Cash
10,525
Accounts Receivable
27,000
Inventory
30,000
2,000
Prepaid Expenses
Total Current Assets
69,525
Fixed Assets
215,000
Property—net of depreciation
80,000
Equipment—net of depreciation
5,000
Vehicles—net of depreciation
Total Fixed Assets
300,000
Total Assets
369,525
LIABILITIES
Current Liabilities
20,000
Revolving lines of credit
5,000
Accounts Payable
Current Portion of Long-term Debt
Total Current Liabilities
15,000
40,000
Long-term Liabilities
Long-term debt and capital leases
45,500
Loans payable to stockholders
60,500
Total Long-term Liabilities
106,000
Total Liabilities
146,000
Stockholders Equity
1,000
Common stock
Additional Paid-in Capital
25,000
Retained Earnings (Cum from prior years)
53,190
Retained Earnings (From current P&L)
144,335
Total Stockholders Equity
223,525
Total Liabilities and Stockholders Equity
369,525
XYZ Company, INC.
Profit and Loss Statement
Year Ended December 31, 20XX
%
Sales
Returns and allowances
Net Sales
1,750,450
2,752
1,747,698
100.0
Cost of Sales
Beginning Inventory
Purchases
Production Labor
Ending Inventory
Total Cost of Sales
50,000
610,162
420,108
30,000
1,050,270
60.1
Gross Profit
697,428
39.9
Selling Expense
Wages
Commissions
Marketing
Total Selling Expenses
75,000
25,000
25,000
125,000
7.2
Operating Expense
Salaries
Payroll taxes
Benefits
Office Supplies
Postage
Professional Fees
Telephone
Utilities
Training & Education
Miscellaneous
Total Operating Expense
225,000
29,000
27,000
500
250
2,000
850
950
250
50
285,850
16.4
Operating Profit—EBITDA
286,578
16.4
Other Income (Expense)
Interest
Depreciation
Amortization
Total Other Income (Expense)
(9,650)
(12,000)
(2,500)
(24,150)
Total Pre-tax Profit
Income Tax Allowance
262,428
15.0
118,093
Net Profit
144,335
8.3
XYZ Company, INC.
Profit and Loss Statement
Year Ended December 31, 20XX
%
Sales
Returns and allowances
Net Sales
1,750,450
2,752
1,747,698
100.0
Cost of Sales
Beginning Inventory
Purchases
Production Labor
Ending Inventory
Total Cost of Sales
50,000
610,162
420,108
30,000
1,050,270
60.1
Gross Profit
697,428
39.9
Selling Expense
Wages
Commissions
Marketing
Total Selling Expenses
75,000
25,000
25,000
125,000
7.2
Operating Expense
Salaries
Payroll taxes
Benefits
Office Supplies
Postage
Professional Fees
Telephone
Utilities
Training & Education
Miscellaneous
Total Operating Expense
225,000
29,000
27,000
500
250
2,000
850
950
250
50
285,850
16.4
Operating Profit—EBITDA
286,578
16.4
Other Income (Expense)
Interest
Depreciation
Amortization
Total Other Income (Expense)
(9,650)
(12,000)
(2,500)
(24,150)
Total Pre-tax Profit
Income Tax Allowance
262,428
15.0
118,093
Net Profit
144,335
8.3
XYZ Company, INC.
Balance Sheet
For Year Ending December 31, 20XX
ASSETS
Current Assets
Cash
10,525
Accounts Receivable
27,000
Inventory
30,000
2,000
Prepaid Expenses
Total Current Assets
69,525
Fixed Assets
215,000
Property—net of depreciation
80,000
Equipment—net of depreciation
5,000
Vehicles—net of depreciation
Total Fixed Assets
300,000
Total Assets
369,525
LIABILITIES
Current Liabilities
20,000
Revolving lines of credit
5,000
Accounts Payable
Current Portion of Long-term Debt
Total Current Liabilities
15,000
40,000
Long-term Liabilities
Long-term debt and capital leases
45,500
Loans payable to stockholders
60,500
Total Long-term Liabilities
106,000
Total Liabilities
146,000
Stockholders Equity
1,000
Common stock
Additional Paid-in Capital
25,000
Retained Earnings (Cum from prior years)
53,190
Retained Earnings (From current P&L)
144,335
Total Stockholders Equity
223,525
Total Liabilities and Stockholders Equity
369,525
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