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BUS522Unit3WGCIncomeStatmnt2016.xlsx

WGC Income 2015&2016

Wicked Good Cupcakes
Income Statement
in $ 100
Full Year Full Year
Ended 12/31/2015 Ended 12/31/2016
Units Sold 87918 114641 31-Dec-15 31-Dec-16
Sales $12,650 $15,813 Profitability Ratios (in %)
Return on equity
Return on assets
Cost of Goods Sold Return on invested capital
Profit margin
Labor $2,210 $2,763 Gross margin
Materials $2,045 $2,556 Turnover-Control Ratios
Asset turnover
Overhead $5,685 $7,106 Fixed-asset turnover
Inventory turnover
Delivery $305 $381 Collection period (days)
Days' sales in cash
Total CoGS $10,245 $12,806 Payables period
Gross Margin $2,405 $3,006 Leverage and Liquidity Ratios
Assets to equity
Debt to assets
Expense Debt to equity
Selling Expense $875 $1,094 Times interest earned
Current ratio
General & Admin $585 $731 Acid test
Total Expenses $1,460 $1,825
Operating profit (EIBT) $945 $1,181
Interest $190 $238
Profit before Taxes $755 $944
Income Taxes $272 $340
Net Income $483 $604
Dividends $100 $125
Retained Earnings $383 $479
Depreciation $575 $719
Net cash after divends $958 $1,198
Add back tax-adjusted interest $122 $153
Add back divends $100 $125
Cash flow from operations $1,180 $1,475

WGC BalSht 2015&2016

Wicked Good Cupcakes
Balance Sheet
Full Year Full Year
Assets Ended 12/31/2015 Ended 12/31/2016
Current Assets
Cash 1450 1,250
Accounts Receivable 4250 3,050
Raw Materials 1500 1,500
Finished Goods 4050 3,300
Total Current Assets 11250 9,100
Fixed Assets
Land 2500 2,500
Plant and equipment 20800 19,300
Less Accumulated depreciation 8350 8,000
Net plant and equipment 12450 11300
Total Fixed Assets 14950 13800
Other Assets 1250 1,250
Total Assets 27450 24,150
Liabilities and Net Worth
Current Liabilities
Accounts Payable 1120 950
Notes Payable 3000 2,500
Due Contractor 3400 500
Accrued taxes 1250 940
Total current liabilities 8770 4,890
Long-term liabilities 8500 8,500
Common Stock 4250 4,300
Retained earnings 5930 6,460
Total Liabilities and net worth 27450 24,150