Assignment Chemalit
Assignment Chemalit
Assignment Chemalit
Copyright © 2010 President and Fellows of Harvard College. No part of this product may be
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School.
Exhibit 1 1992 Pro-forma Financial Statements
Income Statement for the years ended Dec. 31,2004 and 2005
a
Finished goods inventory includes $5,000 of depreciation
$70,030.00
$20,450.00
$104,680.00
-$950.00
$26,730.00
$11,899.50
Cash Flow for 2005 using Indirect Method
Cash flows from operating activities
Net Income $118,995.00
Adjustments for:-
- Depreciaition $61,625.00
- Amortisation $25,000.00
- Gain on Sale of Equipment -$24,250.00
$62,375.00
Increase in Current Assets / Decrease in Current Liabilities
- Accounts Recievables -$70,030.00
- Inventories - Raw Materials -$20,450.00
- Inventories - Finished Product -$99,680.00
- Prepaid Insurance -$65,000.00
- Taxes Payable -$950.00
-$256,110.00