GHI Company GHI Company

Comparative Financial Statement Comparative Financial Statement

For the Year 2015 and 2016 For the Year 2015 and 2016

2016 2015 2016 2015

ASSETS ASSETS
Cash 450,000 400,000 Cash 450,000 400,000
Accounts Receivable 280,000 250,000 Accounts Receivable 280,000 250,000
Trading Securities 30,000 120,000 Trading Securities 30,000 120,000
Inventories 420,000 370,000 Inventories 420,000 370,000
Prepaid Expenses 80,000 20,000 Prepaid Expenses 80,000 20,000
Total Current Assets 1,260,000 1,160,000 Total Current Assets 1,260,000 1,160,000

Total Non-Current Assets 1,140,000 840,000 Total Non-Current Assets 1,140,000 840,000

Total Assets 2,400,000 2,000,000 Total Assets 2,400,000 2,000,000

LIABILITIES LIABILITIES
Total Current Liabilities 450,000 400,000 Total Current Liabilities 450,000 400,000
Total Non-Current Liabilities 1,300,000 1,100,000 Total Non-Current Liabilities 1,300,000 1,100,000
OWNER’S EQUITY OWNER’S EQUITY
Total Owner’s Equity 650,000 500,000 Total Owner’s Equity 650,000 500,000

Total Liabilities and Owner’s Equity 2,400,000 2,000,000 Total Liabilities and Owner’s Equity 2,400,000 2,000,000

GHI Company GHI Company

Statement of Comprehensive Income Statement of Comprehensive Income
For Year 2015 and 2016 For Year 2015 and 2016

2016 2015 2016 2015

Net Sales 6,000,000 5,200,000 Net Sales 6,000,000 5,200,000
Less Cost of Goods Sold (1,500,000) (1,200,000) Less Cost of Goods Sold (1,500,000) (1,200,000)
Gross Profit 4,500,000 4,000,000 Gross Profit 4,500,000 4,000,000
Less Operating Expenses (500,000) (1,000,000) Less Operating Expenses (500,000) (1,000,000)
Earnings Before Interest and Taxes 4,000,000 3,000,000 Earnings Before Interest and Taxes 4,000,000 3,000,000
Less Interest Expense (2,000,000) (500,000) Less Interest Expense (2,000,000) (500,000)
Net Income before Tax 2,000,000 2,500,000 Net Income before Tax 2,000,000 2,500,000
Less Income Tax (600,000) (750,000) Less Income Tax (600,000) (750,000)
Net Income 1,400,000 1,750,000 Net Income 1,400,000 1,750,000