Cuyamaca College Building Elvis Products International Income Statement Worksheet

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eblny1218

Economics

Cuyamaca College

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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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