Understanding financial ratios in a case study financial plans and
Total Liabilities and Owner’s
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Income Statement, Eden’s Garden Net Sales Revenue* Save your time - order a paper!Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines Order Paper Now |
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$689,247 |
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Cost of Goods Sold |
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Beginning Inventory, 1/1/xx |
$78,271 |
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+ Purchases |
$403,569 |
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Goods available for Sale |
$481,840 |
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– Ending Inventory, 12,31/xx |
$86,157 |
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Cost of Goods Sold |
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$395,683 |
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Gross Profit |
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$293,564 |
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Operating Expenses |
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Advertising |
$22,150 |
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Insurance |
$9,187 |
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Depreciation |
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Building |
$26,705 |
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Autos |
$7,895 |
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Equipment |
$11,200 |
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Salaries |
$116,541 |
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Uniforms |
$4,018 |
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Repairs and Maintenance |
$9,097 |
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Travel |
$2,658 |
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Entertainment |
$2,798 |
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Total Operating Expenses |
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$212,249 |
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General Expenses |
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Utilities |
$7,987 |
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Telephone |
$2,753 |
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Professional Fees |
$3,000 |
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Postage |
$1,892 |
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Payroll Taxes |
$11,589 |
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Total General Expenses |
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$27,221 |
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Other Expenses |
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Interest Expense |
$21,978 |
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Bad check Expense |
$679 |
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Miscellaneous expense |
$1,248 |
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Total Other Expenses |
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$23,905 |
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Total Expenses |
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$263,375 |
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Net Income |
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$30,189 |
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*Credit sales represented $289,484 of this total. year-end financial statements from their accountant. At their last meeting with their accountant, Shelley Edison, three months ago, the Edens had mentioned that they seemed to be having trouble paying their bills on time. “Some of our suppliers have threatened to put us on ‘credit hold,– said Joe. |
