| Game Card | |
| Financial Statements | |
| December 31, 2017 | |
| Prepared By | Peter Lewis |
| Purpose | To provide financial information about the current state |
| of the Game Card store |
| Game Card | |
| Income Statement | |
| January 1, 2017 to December 31, 2017 | |
| Income | |
| Gross Sales | $ 417,600 |
| Less returns and allowances | 34,100 |
| Net Sales | 383,500 |
| Cost of Goods | |
| Inventory, January 1 | 123,200 |
| Purchases | 78,000 |
| Delivery Charges | 14,400 |
| Total Merchandise Handled | 215,600 |
| Less Inventory, December 31 | 114,600 |
| Cost of Goods Sold | 101,000 |
| Gross Profit | 282,500 |
| Interest Income | 3,700 |
| Total Income | 286,200 |
| Expenses | |
| Salaries and Benefits | 125,200 |
| Utilities | 14,300 |
| Rent | 10,100 |
| Office Supplies | 6,800 |
| Insurance | 4,500 |
| Advertising | 9,300 |
| Website | 3,100 |
| Taxes & Licenses | 8,700 |
| Total Expenses | 182,000 |
| Net Income | $ 104,200 |
Game Card Expenses
Salaries and BenefitsUtilitiesRentOffice SuppliesInsuranceAdvertisingWebsiteTaxes & Licenses125200143001010068004500930031008700
| Game Card | ||
| Balance Sheet | ||
| December 31, 2017 | ||
| Current | ||
| Assets | Amounts | % of Total |
| Cash | $ 15,500 | 8.4% |
| Accounts Receivable | 5,500 | 3.0% |
| Inventory | 114,600 | 62.1% |
| Fixed Assets | 21,800 | 11.8% |
| Other | 27,200 | 14.7% |
| Total Assets | $ 184,600 | 100.0% |
| Liabilities | Amounts | % of Total |
| Accounts Payable | $ 13,100 | 9.2% |
| Business Loans | 75,200 | 53.0% |
| Capital Investments | 31,400 | 22.1% |
| Other Debts | 22,300 | 15.7% |
| Total Liabilities | $ 142,000 | 100.0% |
| Net Worth | $ 42,600 | 23.1% |
| Total Liabilities and Equity | $ 184,600 | 100.0% |
Current Assets
CashAccounts ReceivableInventoryFixed AssetsOther1550055001146002180027200
Current Liabilities
Accounts PayableBusiness LoansCapital InvestmentsOther Debts13100752003140022300
| Game Card | |
| Cash Flow Statement | |
| End of Year: 2017 | |
| Operating Cash Flow | |
| Net Income After Tax | $ 104,200 |
| Depreciation | 3,200 |
| Increase in Accounts Receivable | (9,100) |
| Increase in Inventory | (15,300) |
| Decrease in Accounts Payable | (4,700) |
| Increase in Accrued Expenses | 6,300 |
| Total Operating Cash Flow | 84,600 |
| Investing Cash Flow | |
| Purchase of Equipment | $ (31,500) |
| Decrease in Notes Receivable | 700 |
| Total Investing Cash Flow | (30,800) |
| Financing Cash Flow | |
| Increase in Long Term Notes Payable | $ 21,500 |
| Increase in Term Loan | 4,500 |
| Conversion of Notes to Shareholders | – 0 |
| Total Financing Cash Flow | 26,000 |
| Total Cash Flow | 79,800 |
| Cash at beginning of the year | 73,100 |
| Cash at the end of the year | $ 152,900 |
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