Simple Balance Sheet

TMU CORPORATION
Balance Sheets as at December 31 (Amounts in $000s)
2013 2012 2011
Cash $1,500 $650
Accounts receivable 2,000 2,600
Inventories 3,000 3,200
Current assets $6,500 $6,450
Land 1,000 1,000
Plant & equipment gross 50,000 47,000
Accumulated depreciation (9,000) (5,200)
Plant & equipment net $41,000 $41,800
Long-term investment 0 0
TOTAL ASSETS $48,500 $49,250

Accounts payable $1,000 $1,500
Current bank loan 4,000 3,100
Current liabilities $5,000 $4,600
Long-term debt 20,000 21,000
Other long-term liabilities 500 500
Long-term liabilities $20,500 $21,500
Paid-in share capital 2,000 1,500
Retained earnings 21,000 21,650
Shareholders equity $23,000 $23,150
TOTAL LIABILITIES AND EQUITY $48,500 $49,250
Simple Income and Retained Earnings Statements
TMU CORPORATION
Statement of Income and Retained Earnings for the year ended December 31
(Amounts in $000s, except per share)
2013 2012
Net sales revenue $26,000 $20,000
Less costs and expenses:
Raw materials costs 4,500 5,600
Manufacturing expense 7,000 7,300
Depreciation expense 4,000 3,800
Selling and administration expenses 2,500 2,400
Operating income $8,000 $900
Interest (income) expense 2,000 2,100
Income (loss) before income taxes $6,000 ($1,200)
Income tax expense (recovery) at 50% 3,000 (600)
Net income (loss) $3,000 $(600)
Net income (loss) per share $3.00 ($0.63)

Retained Earnings beginning of year $21,000 $21,650
Net Income (loss) for the year 3,000 (600)
Common share dividends paid in year (500) (50)
Retained Earnings end of year $23,500 $21,000

Simple Cash Flow Statement
TMU CORPORATION
Statement of Cash Flows for the year ended December 31 (Amounts in $000s)
2013 2012
Cash provided by (used in) operating activities
Net income (loss) $3,000 ($600)
Depreciation expense 4,000 3,800
Accounts receivable (100) 600
Inventories (300) 200
Accounts payable 400 (500)
Subtotal cash from operations $7,000 $3,500
Cash provided by (used in) financing activities
Current bank loan $400 $900
Long-term debt (2,000) (1,000)
Common shares issued 1,000 500
Common share dividends paid (500) (50)
Subtotal cash provided by (used in) financing ($1,100) $350
Cash provided by (used in) investing activities
Expenditures on plant & equipment ($5,000) ($3,000)
Long-term investment (1,100) 0
Subtotal cash (used) in investing ($6,100) ($3,000)
Summary
Increase (decrease) in cash ($200) $850
Cash at start of year 1,500 650
Cash at end of year $1,300 $1,500