3551811747032212014331141754 50 4114 96 185 1 4236 166

3551811747032212014331141754
50
4114
96
185
1
4236
166
704
3
12
5
-3415
321
9419
0
19231
263
-32250
263
-13665
584
81102
76
264
9
-51
4
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18110
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18345
317
28103
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17665
584
81Race Incorporated
Income Statement
For the Year 200Y
Sales Revenue
Less: Cost of Goods Sold
Gross Margin
Expenses:
Administrative Salary and Wage Expense
Depreciation Expense
Other Operating Expense
Interest Expense
Total Expenses
Operating Income
Income Tax Expense
Net Income
Race Incorporated
Comparative Balance Sheet
As of December 31 200X and 200Y
Current Assets
Cash
Accounts Receivable
Interest Receivable
Inventory
Prepaid Insurance
Prepaid Rent
200Y
200X
Change
Total Current Assets
Long Term Assets
Notes Receivable
PP&E net of accumulated depreciation
Total Long Term Assets
Total Assets
Current Liabilities
Accounts Payable
Salary and Wages Payable
Accrued Liabilities
Total Current Liabilities
Long Term Liabilities
Bonds
Common Stock
Retained Earnings
Total Liabilities & Equity
STATEMENT OF CASH FLOWS
For the Year Ended December 31 200Y
CASH FLOWS FROM OPERATING ACTIVITIES
Adjustments to Reconcile Net Income Provided by Operating Activities:
Increase in Accounts Receivable
Increase in Inventory
Decrease in Prepaid Expenses
Increase in Accounts Payable
Attachments: