INCOME STATEMENTS

31-Dec-10

31-Dec-11

31-Dec-12

31-Dec-13

31-Dec-14

Net Sales
Cost of Sales
Gross Profit

$ 10,891,187
$
6,442,254
$
4,448,933

$ 11,214,035
$ 6,208,372
$ 5,005,663

$ 11,770,381
$ 6,800,569
$ 4,969,812

$ 12,538,240
$ 6,998,397
$ 5,539,843

$ 13,057,800
$ 7,212,940
$ 5,844,861

Shipping Expense
Selling Expense
Administrative Exp.
Total SS&A
Operating Income

$
$
$
$
$

1,146,451
1,926,136
1,135,021
4,207,608
241,325

$
$
$
$
$

1,165,366
2,107,338
1,210,645
4,483,349
522,314

$
920,518
$ 2,350,298
$ 1,359,714
$ 4,630,530
$
339,282

$ 4,594,877
$
944,965

$
$

4,659,233
1,185,628

Misc. Expense
Interest Expense
Income Before Extraordinary Gains

$
$
$

238,002
3,323

$
$
$

267,467
254,847

$
$
$

8,852
189,249
141,181

$
$
$

8,852
189,249
746,864

$
$
$

8,852
189,249
987,527

Gains on Sale of Property & Equipment

Taxable Income

$
$

60,732
64,055

$
$

119,999
374,846

$
$

174,507
315,688

$
$

118,413
865,277

$
$

118,413
1,105,940

Taxes
Net Income

$
$

64,055

$
$

356
374,490

$
$

87,700
227,988

$
$

346,111
519,166

$
$

442,376
663,564

COLORADO BELT BUCKLES, INC.

BALANCE SHEETS

31-Dec-10

31-Dec-11

31-Dec-12

31-Dec-13

Cash
Accounts Receivable
Inventory
Pre-paid Expenses
Other Receivables
Total Current Assets

$
330,974
$ 2,888,815
$ 3,891,653
$
121,451

$
208,238
$ 2,469,918
$ 3,741,080
$
73,873

$ 7,232,893

$ 6,493,109

$
12,481
$ 1,768,504
$ 3,459,905
$
92,468
$
195,042
$ 5,528,400

$
948,934
$ 1,633,056
$ 2,860,804
$
92,468
$
195,042
$ 5,730,303

$
$
$
$
$
$

Gross Fixed Assets

Accumulated Depreciation
Net Fixed Assets

$ 2,804,353 $ 3,124,554 $ 2,818,255

$ (2,278,986) $ (2,613,695) $ (2,410,161)
$
525,367 $
510,859 $
408,094

707,529

$ 1,978,455

Other Assets

109,792

Total Assets

$ 7,802,643

$ 7,423,415

$ 6,046,286

$ 6,547,624

$ 7,195,395

Accounts Payable
Accrued Expenses
Sales Tax Payable
Accrued Interest
Payroll Taxes Payable
Other Taxes
Provision for Profit Sharing
Installment Loans
Bank Loans
Officer Loan
Total Current Liabilities

$
$
$
$

$
$
$
$
$

$
$
$
$
$
$

$
$
$
$
$
$

$
$
$
$
$
$
$

Common Stock
Paid-in Capital
Retained Earnings
Total Shareholder's Equity
Total Liabilities & Equity
Assets - Liab.s & Equity

44,383

783,576
81,857
5,944
56,025

419,447

457,113
58,104
(38)
73,460
(252)

109,792

570,769
79,050
469
16,858
21,650
31,134

544,310
84,207
500
16,858
23,062
33,165
0

31-Dec-14
1,398,477
1,500,897
1,920,265
92,468
195,042
5,107,148

109,792

522,677
87,696
520
16,858
24,018
34,539
-

$
25,000
$ 3,322,341

$
26,430
$ 2,706,208

$
350,000
$ 4,624,743

$
550,000
$ 3,871,025

$ 1,033,674
$
512,304
$ 2,265,908

$ 1,033,674
$
512,304
$ 2,248,080

$ 1,033,674
$
512,304
$ 2,232,287

$
1,000
$
2,433
$ 3,174,467

$
1,000
$
2,433
$ 3,548,957

$
1,000
$
2,433
$ 3,776,945

$
1,000
$
2,433
$ 4,296,111

$
1,000
$
2,433
$ 4,959,675

$ 3,177,900

$ 3,552,390

$ 3,780,378

# $ 4,299,544

$ 4,963,108

$ 7,802,643

$ 7,423,415

$ 6,046,286

# $ 6,547,624

$ 7,195,395

(0) $

(0)

# $

(0) $

STATEMENTS OF CASH FLOWS

2013

2014

From Operations:
Net Income
Plus: Depreciation
Operating Cash Flow

$
519,166
$
$ 519,166.25

$
663,564
$
$ 663,563.81

Working Capital
Accounts Receivable
Inventory
Pre-paid Expense
Other Receivables
Accounts Payable
Accrued Expenses
Sales Tax Payable
Accrued Interest
Payroll Taxes Payable
Other Taxes
Provision for Profit Sharing
Total from Working Capital

$
$
$
$
$
$
$
$
$
$
$
$

$
132,159
$
940,539
$
$
$
(21,633)
$
3,489
$
21
$
$
956
$
1,374
$
$ 1,056,905

Total From Operations:

$ 1,235,888

From Investing Activities:

Fixed Assets
Other Assets
Total From Investing Activities

$
$
$

From Financing Activities:

Installment Loans
Bank Loans
Officer Loans
Common Stock
Paid-in Capital
Dividends
Total From Financing Activities

$
$
$
$
$
$
$

Total Cash Flows

135,448
599,101
(26,459)
5,157
31
1,412
2,031
716,721

$ 1,720,469

(299,435) $ (1,270,925)
$
(299,435) $ (1,270,925)

$
$
$
$
$
$
$

936,453

449,543

Plus: Beginning Cash

12,481

948,934

Ending Cash Balance

948,934

$ 1,398,477

Cash From Balance Sheet

948,934

$ 1,398,477

Emre BULUT - @01276605-Homework #4 Answers

COLORADO BELT BUCKLES, INC.
Jan-10
Feb-10
Mar-10
Apr-10
May-10
Jun-10
Jul-10
Aug-10
Sep-10
Oct-10
Nov-10
Dec-10
Jan-11
Feb-11
Mar-11
Apr-11
May-11
Jun-11
Jul-11
Aug-11
Sep-11
Oct-11
Nov-11
Dec-11
Jan-12
Feb-12
Mar-12
Apr-12
May-12
Jun-12
Jul-12
Aug-12
Sep-12
Oct-12
Nov-12
Dec-12

Sales
520,347
812,437
939,895
617,284
996,097
892,618
830,524
940,536
1,666,107
1,077,932
852,604
744,806
912,453
564,346
1,010,108
699,257
789,804
913,594
1,280,027
898,134
1,382,174
1,492,297
997,715
274,125
478,337
723,537
899,293
1,092,743
906,211
1,081,911
1,037,395
899,216
1,852,125
1,318,409
761,017
720,186

Cost of Sales
286,193
446,840
539,670
316,777
547,853
490,964
456,788
520,907
916,359
592,863
468,932
858,108
564,342
427,169
477,327
564,924
501,910
674,523
452,767
370,303
548,041
578,473
504,420
544,173
207,787
838,796
252,816
698,421
262,900
1,006,462
543,147
571,108
1,152,579
847,777
469,997
(51,221)

Shipping
108,951
100,121
48,600
74,346
103,664
102,524
81,266
66,245
196,024
131,085
97,054
36,571
121,555
82,083
119,760
97,036
100,358
61,601
107,875
95,382
108,068
138,549
140,168
(7,069)
84,203
75,849
28,577
97,958
66,025
57,769
148,404
50,675
102,669
97,067
29,111
82,212

Selling
Administrative
119,369
79,843
138,271
79,346
115,195
80,664
135,964
111,691
156,182
134,501
117,263
85,884
169,014
82,685
171,526
78,579
230,809
90,821
178,956
80,013
180,730
82,848
212,857
148,146
226,748
102,472
156,223
90,259
185,342
85,817
151,576
103,465
140,144
94,189
166,070
116,941
174,517
131,101
133,641
95,859
130,026
87,751
166,238
146,469
167,054
73,279
309,761
83,043
81,767
110,951
119,078
108,947
176,704
96,094
272,712
97,633
163,586
161,695
366,219
146,587
221,477
130,120
192,308
136,216
216,999
97,341
175,090
176,242
217,444
96,379
146,914
1,509

SSA Total
308,163
317,738
244,459
322,001
394,347
305,671
332,965
316,350
517,654
390,054
360,632
397,574
450,775
328,565
390,919
352,077
334,691
344,612
413,493
324,881
325,844
451,255
380,501
385,735
276,921
303,874
301,375
468,303
391,306
570,575
500,001
379,199
417,009
448,399
342,934
230,635

Total COGS and SSA

594,356
764,578
784,129
638,778
942,200
796,635
789,753
837,257
1,434,013
982,917
829,564
1,255,682
1,015,117
755,734
868,246
917,001
836,601
1,019,135
866,260
695,184
873,885
1,029,728
884,921
929,908
484,708
1,142,670
554,191
1,166,724
654,207
1,577,037
1,043,148
950,307
1,569,588
1,296,176
812,930
179,414

Sales vs. COGS

ZET IKII
Regresyon statistikleri
oklu R
R Kare
Ayarl R Kare
Standart Hata
Gzlem

0.568083673
0.322719059
0.302799031
193879.1728
36

ANOVA
df
Regresyon
Fark
Toplam

Fixed cost
Variable cost

1
34
35

SS
MS
F
6.08972E+11 6.0897E+11 16.2007335
1.27803E+12 3.7589E+10
1.887E+12

Anlamllk F
0.000301399

Katsaylar
Standart Hata
t Stat
P-deeri
Dk %95 Yksek %95
151747.5678 101801.6087 1.49062053 0.14528101 -55138.19247 358633.328
0.412930879 0.102591179 4.02501347 0.0003014 0.204440518 0.62142124

Dk 95.0%
Yksek 95.0%
-55138.19247
358633.328
0.204440518
0.62142124

Sales vs. SSA

ZET IKII
Regresyon statistikleri
oklu R
R Kare
Ayarl R Kare
Standart Hata
Gzlem

0.531496743
0.282488788
0.261385517
63979.8618
36

ANOVA
df
Regresyon
Fark
Toplam

SS
MS
F
1 54794634749 5.4795E+10 13.3860191
34 1.39176E+11 4093422716
35 1.93971E+11

Katsaylar
Standart Hata
t Stat
P-deeri
253485.9008 33594.39159 7.54548271 9.2153E-09
0.123864793 0.033854949 3.6586909 0.00085094

Fixed cost
Variable cost

Anlamllk F
0.000850936

Dk %95 Yksek %95

185213.8829 321757.919
0.055063259 0.19266633

Dk 95.0%
Yksek 95.0%
185213.8829 321757.9186
0.055063259 0.192666327

Sales vs. Total COGS andSSA

ZET IKII
Regresyon statistikleri
oklu R
R Kare
Ayarl R Kare
Standart Hata
Gzlem

0.600596327
0.360715948
0.341913476
231608.7416
36

ANOVA
df
Regresyon
Fark
Toplam

Fixed cost
X Deikeni 1-variable cost

1
34
35

SS
MS
F
1.02911E+12 1.0291E+12 19.1844958
1.82385E+12 5.3643E+10
2.85296E+12

Katsaylar
Standart Hata
t Stat
P-deeri
405233.4685 121612.5597 3.33216791 0.00208707
0.536795673 0.122555784 4.38001094 0.00010762

Anlamllk F
0.000107619

Dk %95 Yksek %95

158087.0119 652379.925
0.287732354 0.78585899

Dk 95.0%
Yksek 95.0%
158087.0119 652379.9252
0.287732354 0.785858991

Sales/Receivables
Cost of Sales/Inventory
Cost of Sales/Payables
Sales/Net Fixed Assets

CBBI
2012
Average Industry
6.7
7.7
8.7
2.0
4.4
6.8
11.9
12.9
13.8
28.8
17.7
6.6

Emre BULUT - @01276605-Homework #4 Answers

COLORADO BELT BUCKLES, INC.
DATE
1st Half 2006
2nd Half 2006
1st Half 2007
2nd Half 2007
1st Half 2008
2nd Half 2008
1st Half 2009
2nd Half 2009
2nd Half 2010
2nd Half 2010
1st Half 2011
2nd Half 2011
1st Half 2012
2nd Half 2012
1st Half 2013
2nd Half 2013
1st Half 2014
2nd Half 2014

CBBI Total
Sales
3,360,375
5,254,633
4,374,533
6,328,275
4,500,238
5,524,937
4,210,715
5,834,052
4,870,085
6,021,102
4,889,564
6,324,471
5,182,033
6,588,348
5,501,882.81
7,036,357.22
5,768,539.98
7,289,260.40

Retail Sales
Less Auto
759,744
779,597
797,485
816,861
838,373
866,869
879,718
894,177
917,982
938,928
963,275
978,670
1,003,486
1,029,769
1,080,457
1,107,699
1,132,823
1,157,364

Dummy
Variable
0
1
0
1
0
1
0
1
0
1
0
1
0
1
0
1
0
1

(actual)
(actual)
(actual)
(actual)
(actual)
(actual)
(actual)
(actual)
(actual)
(actual)
(actual)
(actual)
(actual)
(actual)
(projected)
(projected)
(projected)
(projected)

SS
MS
3.93508E+14 1.96754E+14
1.26034E+12 1.05029E+11
3.94768E+14

F
1873.33433

ZET IKII
Regresyon statistikleri
oklu R
R Kare
Ayarl R Kare
Standart Hata
Gzlem

0.998402414
0.99680738
0.913207995
324081.3682
14

ANOVA
df
Regresyon
Fark
Toplam

2
12
14
Katsaylar

Intercept
Retail Sales
Dummy

0
5.092181193
1395753.201

Standart Hata
#N/A
0.138005439
174513.109

t Stat
#N/A
36.89840946
7.997984845

P-deeri
#N/A
1.0071E-13
3.7696E-06

Anlamllk F
1.16308E-14

Dk %95
Yksek %95 Dk 95.0%
Yksek 95.0%
#N/A
#N/A
#N/A
#N/A
4.791493172 5.392869214 4.791493 5.392869
1015521.8 1775984.602 1015522 1775985