ACC 300 Week 3 Team Assignment - Financial Statement Paper - Landry's Restaurant

Feb 3rd, 2012
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ACC 300 Week 3 Team Assignment - Financial Statement Paper - Landry's Restaurant

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Running head: EXAMINING FINANCIAL STATEMENTS PAPERExamining Financial Statements PaperYOUR NAME(S)ACC/300DATENAME OF PROFESSORa. What is the amount of net income? Which financial statement did you find this information? What are the components of this financial statement?The net income for Landry's Restaurant was $26,919,569 in 2001. In the year 2002 it was $41,521,616, and in 2003 their income was $ 45,901,054. This information can be found on three different financial statements: Income, Cash Flow, and Stockholder's Equity. Components:Income Statement: reports the organization's economic performance over a specified period of time.Cash Flow: reports the organization's sources and uses of funds. It explains how an organization obtains cash (sources of funds) and how it spends cash (use of funds) including the borrowing and repayment of debt, capital transactions, and other factors that may affect the cash position.Stockholder's Equity: reports balances over a longer period of time. Some items reported on this statement are, purchase of common stock, net income, and dividends paid. The balances are checked at the end of the year to assure accuracy. Together, these statements summarize all of the information contained in the organization's accounts.b. What are the total assets? Which financial statement did you find this information? What are the components of this financial statement? In 2003, the total assets were $1,102,785,506. The fina

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