Provide analysis on apixs assets liabilities cash and profit

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Reference no: EM131065325

Using all following three Financial Statements provide an analysis on Apix's assets, liabilities, cash, and profit. As well, choose 2 additional components on each of the sheets, and provide your initial impression on the company financial situation.

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Balance Sheets
As of December 31, 2013 and 2012

 

000$

000$

Assets

2013

2012

Cash

6,000

5,700

Accounts Receivable

2,350

2,300

Inventory

12,100

6,500

Total  Current Assets

20,450

14,500

Land

25,000

20,000

Building & Equipment

300,000

300,000

Less:  Accumulated Depreciation - Building & Equipment

(187,850)

(160,000)

Total Long Term Assets

137,150

160,000

Total Assets

157,600

174,500

Liabilities and Stockholders' Equity

 

 

Accounts Payable

4,600

3,500

Salaries Payable

0

2,100

Interest Payable

1,500

0

Short Term Notes Payable

12,000

0

Taxes Payable

0

5,600

Total Current Liabilities

18,100

11,200

Mortgate Payable

54,950

100,000

Total Long Term Liabilities

54,950

100,000

Common Stock

60,000

60,000

Retained Earnings

24,550

3,300

Total Stockholders' Equity

84,550

63,300

Total Liabilities and Stockholders' Equity

157,600

174,500

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Income Statements
For the Periods Ended December 31, 2013 and 2012

 

000$

000$

 

2013

2012

Revenue:

450,000

475,000

Less: Cost of Goods Sold

(324,300)

(374,500)

Less: Depreciation Expense

(27,850)

(26,000)

Gross Margin

97,850  

74,500

Selling, General & Administrative Expenses

(29,100)

(32,000)

Income Before Interest & Taxes

68,750  

42,500

Interest Expense

(7,500) 

(6,000)

Income Before Taxes

61,250  

36,500

Income Taxes

(35,000)

(30,000)

Net Income

26,250

6,500

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Statement of Cash Flows

For the Period Ended December 31, 2013

 

000$

Cash Flows from Operating Activities:

 

Net Income

26,250

Adjustments to reconcile net income to net cash provided by operating activities

Depreciation Expense

27,850

Increase in accounts receivable

(50)

Increase in inventory

(5,600)

Decrease in salaries payable

(2,100)

Increase in interest payable

1,500

Decrease in taxes payable

(5,600)

Increase in Short Term notes Payable

12,000

Increase in accounts payable

1,100

Net Cash Flow from Operating Activities

55,350

Cash Flows from Investing Activities:

 

Cash paid to purchase land

(5,000)

Net Cash Flow from Investing Activities

(5,000)

Cash Flows From Financing Activities:

 

Cash paid for mortgage

(45,050)

Cash paid for dividends

(5,000)

Net Cash Flow from Financing Activities

(50,050)

Net Increase in Cash

300

Plus:  Cash Balance at December 31, 2012

5,700

Cash Balance at December 31, 2013

6,000

Reference no: EM131065325

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