Sudoku challenge
Use the following information to build the company’s financial statements – balance sheet,
income statement and CF statement. You can use the excel file for quicker calculations. One
tab per statement. You will need to go back and forth between the statements – it is a great way
to practice with the connections.
Data points:
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Revenue is 25,200. The gross profit margin is 48%.
AR balance is 2,500, Inventory is 3,500, Prepaid expenses are 700. Long-term
investments are 3,000.
The AP balance is 30% of the cost of revenue.
The LT debt is twice the amount of ST debt. Total current liabilities are 5,500.
The operating expenses are 6,000 and the non-operating expenses are 300. The
income tax rate is 21%.
Prior period RE was 3,000. Dividends of 200 were paid this period.
Beginning cash balance for the period was 300. The adjustment to the net income to
arrive to the cash flow from operations is 320. And other items from the CF statement
are pre-populated in the attached excel file.
The common stock is 2,200.
Complete the BS, IS and CF statement. Make sure the BS balances!