Use the financial information from eric and ian company to

Reference no: EM13579191

For the Year Ending 12/31/2013

Sales Revenue		100,000
Less Cost of Goods Sold		-60,000
Equals Gross Margin		40,000
Operating Expenses
Selling and Administration	15,000
Depreciation	7,000
Total Operating Expense		-22,000
Operating Income		18,000
Tax		-7,200
Net Income		10,800

Eric and Ian

Statement of Retained Earnings

For the Year Ending 12/31/2013

Beginning Balance		10,000
Net Income		10,800
Less Dividends		-3,400
Ending Balance		17,400

Eric and Ian

Balance Sheet

12/31/2012 & 12/31/2013

Category	2012	2013
Cash	20,000	25,000
Accounts Receivable	15,000	12,000
Inventory	30,000	52,000
Total Current Assets	65,000	89,000
Equipment	70,000	65,000
Less Accumulated Depreciation	-15,000	-19,000
Equipment (Net)	55,000	46,000
Total Assets	120,000	135,000

Accounts Payable	15,000	29,000
Long-term Liabilities	25,000	18,600
Total Liabilities	40,000	47,600

Common Stock	70,000	70,000
Retained Earnings	10,000	17,400
Total Equity	80,000	87,400
Total Liabilities & Equity	120,000	135,000

Shares of Stock Outstanding 2,000 2,000

Market Price per Share Common Stock 7.00 8.00

Question A: cash flow

to develop a cash flow statement for 2013.

Question B : Ratio Analysis

Use the financial information from Eric and Ian Company to compute any three activity ratios, any one liquidity ratio, any one debt ratio, any three profitability ratios, and any two market ratios.

Reference no: EM13579191

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