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[answered] AWESOME SAUCES Pro forma Income Statement and Balance Sheet


Increase in Finished Goods Inventory

Decrease in Raw Materials Inventory

Decrease in Accounts Payable

Cash inflow from operating activities

$

Investing Activities

?

Cash outflow from building purchase

$

Financing Activities

?

Cash inflow from borrowing

$

Cash outflow from dividends paid

Cash inflow from financing activities

?

Change in cash flow during the month

?

Beginning cash balance

Ending cash balance

?

Adjustments to Net Income for changes in current assets and current liabilities

?

Decrease in Accounts Receivable

Okay, now that you've organized the line items, let's fill in some values, assuming Awesome Sauces borrows the money and buys the building on the last day of the year. If Awesome Sauces buys the building on the last day of the year:?

  • The building's cost would be $50,000
  • Awesome Sauces would pay $10,000 from its own cash, and
  • Awesome Sauces would borrow the remaining $40,000 from the bank, which it would spend to pay the rest of the building's purchase price.?

Also, the amount of dividends Sauces paid during the year was $5,100. Another document you may find helpful:?Pro forma Income Statement and Balance Sheet, 20X9??

Note: Use parentheses in your answer to denote negative amounts.

Awesome Sauces - Pro forma Statement of Cash Flows - For the Year 20X9

Operating Activities

?

Net Income

$

Depreciation Expense


Adjustments to Net Income for changes in current assets and current liabilities

?

Decrease in Accounts Receivable


Increase in Finished Goods Inventory

Decrease in Raw Materials Inventory

Decrease in Accounts Payable

Cash inflow from operating activities

$

Investing Activities

?

Cash outflow from building purchase

$

Financing Activities

?

Cash inflow from borrowing

$

Cash outflow from dividends paid

Cash inflow from financing activities

?

Change in cash flow during the month

?

Beginning cash balance

Ending cash balance

?


AWESOME SAUCES

 

Pro forma Income Statement and Balance Sheet, 20X9 Awesome Sauces Pro forma Income Statement

 

for the Year Ended 20X9 Awesome Sauces

 

Pro forma Balance Sheets 20X9

 

Balances

 

Ending

 

Beginning Sales

 

Cost of Goods Sold

 

Gross Margin

 

Sales & Administrative Expenses

 

Depreciation Expense

 

Earnings Before Interest & Tax

 

Tax Expense

 

Net Income 119,200

 

(74,600)

 

44,600

 

(17,000)

 

(10,000)

 

17,600

 

(3,700)

 

$13,900 Current Assets

 

Cash

 

Accounts Receivable

 

Finished Goods Inventory

 

Raw Materials Inventory

 

Property Plant and Equipment

 

Accumulated Depreciation

 

Total Assets $11,100

 

$5,200

 

$33,100

 

$4,900

 

$150,000

 

($50,000)

 

$154,300 $4,900

 

$5,500

 

$30,500

 

$5,000

 

$100,000

 

($40,000)

 

$105,900

 

- Current Liabilities

 

Accounts Payable

 

Non-Current Liabilities

 

Note Payable

 

Total Liabilities $1,900 $2,300 $40,000

 

$41,900 $2,300 Owner's Equity

 

Contributed Capital

 

Retained Earnings

 

Total Owner's Equity

 

Total Liabilities and Owner's Equity $100,000

 

$12,400

 

$112,400

 

$154,300 $100,000

 

$3,600

 

$103,600

 

$105,900

 


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