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P & L from January 1, 2003 to June 30, 2003 Sales Cost of Sales Gross Profit Depreciation Expenses Org Cost Written Off Expense Net Income $0 $0 $0 $0 $0 $0
Chemalite, Inc.
Cash Flows Statement from January 1, 2003 to June 30, 2003
Operating Activities Net Income (PBT) Depreciation and Amortization Change in Account Receivable Change in Inventory Operating Expenses Net Cash provided by Operating Activities INVESTING ACTIVITIES Purchase of equipment Net Cash used by Investing Activities FINANCING ACTIVITIES Net Cash provided by Financing Activities Total CASH and CASH EQUIVALENTS Cash balance on Jan 1, 2003 End of Period -75000 -7500 -82500 0 0
-62500 -62500
Chemalite, Inc.
Balance Sheet for June 30, 2003 Liabilities, Borrwoing and Shareholders Equity
Shareholders' Equity
Common Stock $500,000
Retained Earnings Total shareholders' equity Total liabilities and shareholders' equity
$0 $500,000 $500,000 $0 $0 $0 $0
Borrowings
Current Liabilities Accounts payable Taxes payable Total Current Liabilities Long-term liabilities Long-term loans
$0
$500,000
Current Assets
Cash Accounts Receivable Inventory Total current assets
Total assets
$500,000
The most imp acc convention or assumption of financial is matching principle, matching pronciple states that the associated and relevant cost should be recognised in the same period in which the related revenues are generated and recognised.
Chemalite, Inc.
Cash flows from Operating Activities PBT Cash collections Cash payments for purchases Cash payments for operating expenses Interest and taxes Total cash payments Net cash provided by operating activities Cash flows from Investing Purchase of hard assets (machinery) Total Cash flows from investing Cash flows from Financing Sale of stock Total cash flow from financing Cash Summary Cash on January 1, 2003 Net Change in Cash Cash on June 30, 2003
te, Inc.
($62,500) ($62,500)
$375,000 $375,000
Chemalite, Inc. Income Statement for the year ending Deceber 31, 2003
Sales Cost of Sales Materials Manufacturing Total COGS Gross Profit Gross Margin Indirect Operating Expense EBITDA EBITDA Margin Dep Amo Amo of Org Cost Depreciation Expense Total EBIT Operating Profit Margin or EBIT Margin Interest Expense PBT Income Taxes PAT Net Profit Margin ($195,000) ($350,000) ($545,000) $209,500 27.77% ($126,250) $83,250 11.03% ($10,625) ($25,000) ($1,500) ($37,125) $46,125 6.11% ($750) $45,375 $13,613 $31,763 4.21% $754,500
Total liabilities + Eq
$545,375
Assets Fixed Assets Equipment Patent Total fixed assets Deferred Rev Expenses Org Cost Current Assets Cash Accounts Receivable Inventory Total current assets $113,000 $69,500 $55,000 $237,500 $6,000 $201,875 $100,000 $301,875
Total assets
$545,375
Chemalite, Inc.
Cash Flows Statement Deceber 31, 2003
PBT Depreciation and Amortization +- Working Cap Change in Account Receivable Change in Inventory Net Cash provided by Operating Activities INVESTING ACTIVITIES Purchase of equipment Legal Charges Net Cash used by Investing Activities FINANCING ACTIVITIES Issue of Equity Shares Net Cash provided by Financing Activities End of Period 375000 375000 $113,000 -212500 -7500 -220000 ($69,500) ($55,000) ($42,000) $45,375 $37,125
-195000
-126250
-10625
212500
37500
30% Assumption
31, 2003
Less Tax