Game Card

Financial Statements
December 31, 2017
Prepared By
Purpose

Peter Lewis
To provide financial information about the current state
of the Game Card store

Game Card
Income Statement
January 1, 2017 to December 31, 2017
Income
Gross Sales
Less returns and allowances
Net Sales

417,600
34,100
383,500

Cost of Goods
Inventory, January 1
Purchases
Delivery Charges
Total Merchandise Handled

123,200
78,000
14,400
215,600

Less Inventory, December 31

114,600

Cost of Goods Sold

101,000

Gross Profit

282,500

Interest Income
Total Income

3,700
286,200

Expenses
Salaries and Benefits
Utilities
Rent
Office Supplies
Insurance
Advertising
Website
Taxes & Licenses
Total Expenses

125,200
14,300
10,100
6,800
4,500
9,300
3,100
8,700
182,000

Net Income

104,200

Game Card Expenses

Taxes & Licenses; 5%
Website; 2%
Advertising; 5%
Insurance; 2%
Office Supplies; 4%

Rent; 6%

Utilities; 8%

Salaries and Benefits; 69%

Game Card
Balance Sheet
December 31, 2017
Current
Assets
Cash
Accounts Receivable
Inventory
Fixed Assets
Other
Total Assets
Liabilities
Accounts Payable
Business Loans
Capital Investments
Other Debts
Total Liabilities

Amounts
$

15,500
5,500
114,600
21,800
27,200
184,600

Amounts
$

13,100
75,200
31,400
22,300
142,000

% of Total
8.4%
3.0%
62.1%
11.8%
14.7%
100.0%

Current As s ets
Ca sh
Ac c ou nts
Re c eiva bl e
Inven to ry

Fi xed Asse ts
Oth er

% of Total
9.2%
53.0%
22.1%
15.7%
100.0%
C urrent Liabilities

Ac co u nts Pa ya

Bu si ness Lo a n
Ca p ital
In vest me nt s
Ot he r De bts

Net Worth
Total Liabilities and Equity

$
$

42,600
184,600

23.1%
100.0%

Current Ass ets

Ca sh
Ac c ou n ts
Re c eiv ab le
Inv ento ry
Fi xe d Ass ets
Oth er

Current Liabilitie s
Ac co u nts Pa ya bl e
Bu si ne ss Lo a ns
Ca p ita l
In ve st me nt s
Ot he r D eb ts

Game Card
Cash Flow Statement
End of Year: 2017
Operating Cash Flow
Net Income After Tax
Depreciation
Increase in Accounts Receivable
Increase in Inventory
Decrease in Accounts Payable
Increase in Accrued Expenses
Total Operating Cash Flow
Investing Cash Flow
Purchase of Equipment
Decrease in Notes Receivable
Total Investing Cash Flow
Financing Cash Flow
Increase in Long Term Notes Payable
Increase in Term Loan
Conversion of Notes to Shareholders
Total Financing Cash Flow

104,200
3,200
(9,100)
(15,300)
(4,700)
6,300
84,600

(31,500)
700
(30,800)

21,500
4,500
26,000

Total Cash Flow

Cash at beginning of the year
Cash at the end of the year

79,800
73,100
$

152,900