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Documentation

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

Income

Statement

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 12

3,200 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

Expenses

Game Card Expenses

Salaries and Benefits Utilities Rent Office Supplies Insurance Advertising Website Taxes & Licenses 125200 14300 10100 6800 4500 9300 3100 8700

Balance Sheet

Game Card

Balance Sheet

December 31, 2017

5,500

Inventory
114,600

Amounts
% of Total

100.0%

$ 184,600
100.0%

Current
Assets		Amounts		% of Total
Cash	$ 1	5,500	8.4%
Accounts Receivable	3.0%
62.1%
Fixed Assets	21,800	11.8%
Other	27,200	14.7%
Total Assets		$ 1	84,600			100.0%
Liabilities
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
Net Worth	$ 42,600	23.1%
Total Liabilities and Equity

Current Assets

Cash Accounts Receivable Inventory Fixed Assets Other 15500 5500 114600 21800 27200

Current Liabilities

Accounts Payable Business Loans Capital Investments Other Debts 13100 75200 31400 22300

Cash Flow

Game Card

$ 104,200

3,200

84,600

700

4,500

Cash Flow Statement
End of Year: 2017
Operating Cash Flow
Net Income After Tax
Depreciation
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
Investing Cash Flow
Purchase of Equipment	$ (31,500)
Decrease in Notes Receivable
Total Investing Cash Flow	(30,800)
Financing Cash Flow
Increase in Long Term Notes Payable	$ 21,500
Increase in Term Loan
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