Elvis Products International
Income Statement
For the Year Ended Dec. 31, 2020
2020
Sales
3,850,000
Costs of Goods
3,250,000
Gross Profit
600,000
Selling and G&A Expenses
330,300
Fixed Expenses
100,000
Depreciation Expense
20,000
EBIT
149,700
Interest Expense
76,000
Earnings Before Taxes
73,700
Taxes
18,425
Net Income
55,275
Notes:
Tax Rate
25%
2019
3,432,000
2,864,000
568,000
240,000
100,000
18,900
209,100
62,500
146,600
36,650
109,950
Exhibit 2-1 EPI's Income Statement
for 2020 and 2019
Elvis Products International
Balance Sheet
As of Dec. 31, 2020
Assets
Cash and Equivalents
Accounts Recievable
Inventory
Total Current Assets
Plant & Equipment
Accumulated Depreciation
Net Fixed Assets
Total Assets
Liabillities and Owner's Equity
Accounts Payable
Short-term Notes Payable
Other Current Liabilities
Total Current Liabillities
Long-term Debt
Total Liabillities
Common Stock
Retained Earnings
Total Shareholder's Equity
Total Liabillities and Owner's Equity
2020
52,000
402,000
836,000
1,290,000
527,000
166,200
360,800
1,650,800
2019
57,600
351,200
715,200
1,124,000
491,000
146,200
344,800
1,468,800
175,200
225,000
140,000
540,200
424,612
964,812
460,000
225,998
685,998
1,650,810
145,600
200,000
136,000
481,600
323,432
805,032
460,000
203,768
663,768
1,468,800
Exhibit 2-2 EPI's Balance
-2 EPI's Balance Sheet
Elvis Products International
Income Statement
For the Year Ended Dec. 31, 2020 ($ in 000's)
2020
2019
Sales
3,850.00
3,432.00
Costs of Goods
3,250.00
2,864.00
Gross Profit
600.00
568.00
Selling and G&A Expenses
330.30
240.00
Fixed Expenses
100.00
100.00
Depreciation Expense
20.00
18.90
EBIT
149.70
209.10
Interest Expense
76.00
62.50
Earnings Before Taxes
73.70
146.60
Taxes
18.43
36.65
Net Income
55.28
109.95
Exhibit
with a Custom Numb
Exhibit 2-3 The Income Statement
with a Custom Number Format
Elvis Products International
Balance Sheet
As of Dec. 31, 2020 ($ in 000's)
Assets
2020
Cash and Equivalents
52.00
Accounts Recievable
402.00
Inventory
836.00
Total Current Assets
1,290.00
Plant & Equipment
527.00
Accumulated Depreciation
166.20
Net Fixed Assets
360.80
Total Assets
1,650.80
Liabillities and Owner's Equity
Accounts Payable
175.20
Short-term Notes Payable
225.00
Other Current Liabilities
140.00
Total Current Liabillities
540.20
Long-term Debt
424.61
Total Liabillities
964.81
Common Stock
460.00
Retained Earnings
226.00
Total Shareholder's Equity
686.00
Total Liabillities and Owner's Equity
1,650.81
2020
57.60
351.20
715.20
1,124.00
491.00
146.20
344.80
1,468.80
145.60
200.00
136.00
481.60
323.43
805.03
460.00
203.77
663.77
1,468.80
Exhibit 2-4 The Balance Sheet with a
Custom Number Format
Elvis Products International
Income Statement
For the Year Ended Dec. 31, 2020
2020
Sales
100.00%
Costs of Goods
84.42%
Gross Profit
15.58%
Selling and G&A Expenses
8.58%
Fixed Expenses
2.60%
Depreciation Expense
0.52%
EBIT
3.89%
Interest Expense
1.97%
Earnings Before Taxes
1.91%
Taxes
0.48%
Net Income
1.44%
2019
100.00%
83.45%
16.55%
6.99%
2.91%
0.55%
6.09%
1.82%
4.27%
1.07%
3.20%
Contribution
-0.97%
-1.59%
0.32%
0.03%
-0.15%
0.59%
1.77%
Exhibit 2-5 EPi's Common-SIze Statements
Elvis Products International
Balance Sheet
As of Dec. 31, 2020
Assets
Cash and Equivalents
Accounts Recievable
Inventory
Total Current Assets
Plant & Equipment
Accumulated Depreciation
Net Fixed Assets
Total Assets
Liabillities and Owner's Equity
Accounts Payable
Short-term Notes Payable
Other Current Liabilities
Total Current Liabillities
Long-term Debt
Total Liabillities
Common Stock
Retained Earnings
Total Shareholder's Equity
Total Liabillities and Owner's Equity
2020
3.15%
24.35%
50.64%
78.14%
31.92%
10.07%
21.86%
100.00%
2020
3.92%
23.91%
48.69%
76.53%
33.43%
9.95%
23.47%
100.00%
10.61%
13.63%
8.48%
32.72%
25.72%
58.45%
27.87%
13.69%
41.56%
100.00%
9.91%
13.62%
9.26%
32.79%
22.02%
54.81%
31.32%
13.87%
45.19%
100.00%
Exhibit 2-6 EPI's Common-Size Balance Sheet
Elvis Product International
Statement of Cash Flows
For the Year Ended Dec. 31, 2020 ($ in 000's)
Cash Flows from Operations
Net Income
55.28
Depreciation Expense
20.00
Change in Accounts Recieveable
-50.80
Change in Inventories
-120.80
Change in Accounts Payable
29.60
Change in Other Current Liabillities
4.00
Total Cash Flows from Investing
-62.73
Cash Flows From Investing
Change in Plant & Equipment
-36.00
Total Cash Flows from Investing
-36.00
Cash Flows From Financing
Change in Short-term Notes Payable
25.00
Change in Long-term Debt
101.18
Change in Common Stock
0.00
Cash Dividends Paid to Shareholders
-33.05
Total Cash Flow From Financing
93.14
Net Change in Cash Balance
-5.59
Exhibit 2-7 Statement of Cash Flows for EPI
Elvis Products International
Statements of Cash Flows
For the Year Ended Dec. 31, 2020 ($ in 000's)
Total Cash Flows from Operations
Total Cash Flow from Investing
Total Cash Flow from Financing
Net Change in Baalance
-62.73
-36.00
93.13
-5.60
Exhibit 2-8 Statement of Cash
with Only Level 1 Displayed
8 Statement of Cash Flows
Only Level 1 Displayed
Elvis Product International
Statement of Cash Flows
For the Year Ended Dec. 31, 2020 ($ in 000's)
Cash Flows from Operations
% of Sales
Net Income
1.44%
Depreciation Expense
0.52%
Change in Accounts Recieveable
-1.32%
Change in Inventories
-3.14%
Change in Accounts Payable
0.77%
Change in Other Current Liabillities
0.10%
Total Cash Flows from Investing
-1.63%
Cash Flows From Investing
Change in Plant & Equipment
-0.94%
Total Cash Flows from Investing
-0.94%
Cash Flows From Financing
Change in Short-term Notes Payable
0.65%
Change in Long-term Debt
2.63%
Change in Common Stock
0.00
Cash Dividends Paid to Shareholders
-0.86%
Total Cash Flow From Financing
2.42%
Net Change in Cash Balance
-0.15%
Exhibit 2
Cash Flows Usin
Exhibit 2-9 Common-Size Statements of
Cash Flows Using Sales
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