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Income Statement
For the period ended December 31, 2009
Note
GROSS PROFIT
TOTAL INCOME
DISTRIBUTION COSTS 4
ADMINISTRATIVE EXPENSES 5
INTEREST EXPENSE
NET INCOME
s
r 31, 2009
2,519,000.00
1,259,500.00
1,259,500.00
53,725.00
1,313,225.00
473,100.00
703,975.00
108,400.00 1,285,475.00
27,750.00
Dreamgirls Enterprises
Statement of Changes in Owner's Equity
For the period ended December 31, 2009
2,715,250.00
5,420,250.00
1,475,000.00
3,945,250.00
Dreamgirls Enterprises
Statement of Financial Position
As of December 31, 2009
Note
ASSETS
Current Assets
Cash 1,013,355.00
Investment in Trading Securities 107,000.00
Trade and Other Receivables - net 6 606,700.00
Merchandise Inventory 366,220.00
Prepaid Expenses 7 237,200.00
Non-current Assets
Property, Plant and Equipment - net 8
Total Assets
Current Liabilities
Trade and Other Payables 9
Non-current Liabilities
Mortgage Payable 1,250,000.00
Loans Payable 1,000,000.00
Owner's Equity
J. Hudson, Capital
4,407,150.00
6,737,625.00
542,375.00
2,250,000.00
3,945,250.00
6,737,625.00
Dreamgirls Enterprises
Statement of Cash Flows
For the Period Ended December 31, 2009
1,903,500.00
(83,400.00)
(88,000.00)
(107,000.00)
(928,345.00)
(1,088,900.00)
(392,145.00)
16,000.00
(328,000.00)
(312,000.00)
1,250,000.00
1,000,000.00
142,500.00
(1,475,000.00)
917,500.00
213,355.00
800,000.00
1,013,355.00
NOTES TO FINANCIAL STATEMENTS
Land
Cost 2,545,000.00
Less: Accumulated Depreciation -
Carrying Value 2,545,000.00
250,000.00
1,541,000.00
233,930.00
1,307,070.00
68,650.00 1,375,720.00
1,625,720.00
366,220.00
1,259,500.00
50,000.00
2,450.00
1,275.00
53,725.00
142,150.00
137,250.00
74,800.00
54,500.00
48,000.00
16,400.00
473,100.00
231,000.00
227,000.00
56,250.00
100,000.00
75,000.00
14,725.00
703,975.00
506,250.00
98,000.00
2,450.00
606,700.00
13,200.00
200,000.00
24,000.00
237,200.00
Furniture and
Building Store Equipment Fixtures Total
1,500,000.00 328,000.00 139,500.00 4,512,500.00
75,000.00 16,400.00 13,950.00 105,350.00
1,425,000.00 311,600.00 125,550.00 4,407,150.00