Multiple owner-publicly traded corporation ownership model

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Reference no: EM13848402

Two years ago, Statesboro was selected as the location for the newest NFL team, the Georgia Peach Bums. The Peach Bums have a multiple owner/publicly traded corporation ownership model. As part of this model, the investors purchased 25,000,000 shares of common stock at $1 per share. Unfortunately, they have lost all of their financial statements from 2014.

Please use the following accounts and balances to create a Balance Sheet as of 12/31/2014 (ending balances only) and an Income Statement for the Year Ended 2014. Make a table with professional quality. Indicate the date and categories clearly.

*All amounts in millions (USD)

Accounts Payable $3

Accounts Receivable, net $3

Accrued expenses $2

Capital Lease Obligations $5

Cash $4

Common Stock $25

Cost of Goods Sold $5

Intangible Assets $3

Interest Income (Expense) -$4

Inventories $6

Net Revenue $35

Other Long-term Liabilities $1

Other Non-current Assets $4

Property and Equipment, net $25

Retained Earnings $4

Revolving Credit (Loan) $5

Selling G&A $23

Taxes $1

Additionally, please create a Statement of Cash Flows for the Year Ended 2014 using the following information:

All amounts in millions (USD)

Accounts Payable $1

Accounts Receivable $3

Depreciation $5

Inventories ($1)

Net Income $2

Payments of Long-term debt ($4)

Proceeds from sale of equipment $6

Process from stock issuance $8

Purchase of Property & Equipment ($18)

Reference no: EM13848402

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