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Cash
Flow Worksheet #1
Sample Financial Statements
Balance Sheet
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Assets
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Year
1
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Year
2
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Cash
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$200
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$200
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Accounts receivable
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200
|
400
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Inventory
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200
|
300
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=========
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=========
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Total current
assets
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600
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900
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Fixed assets, cost
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1,000
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1,100
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Accumulated depreciation
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-100
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-200
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=========
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=========
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900
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900
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=========
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=========
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Total Assets
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$1,500
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$1,800
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Liabilities and
Equity
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Accounts payable
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$100
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$300
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Income taxes payable
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100
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100
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=========
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=========
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Total current liabilities
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200
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400
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Notes payable
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800
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700
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Stockholder's equity
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500
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700
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=========
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=========
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Total liabilities
and equity
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$1,500
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$1,800
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Income Statement
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Year
2
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Sales
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$1,800
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Cost of sales
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1,080
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Gross profit
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720
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Operating expenses
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320
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========
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Income from
operations
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400
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Interest income
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20
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Interest expense
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-100
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========
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Income before
taxes
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320
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Income taxes
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120
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========
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Net income
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$200
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Other assumptions:
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No fixed asset disposals
during the year.
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A loan for $200 was
taken out during the year.
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