Financial Statements: Balance Sheet & Income Statement Analysis
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Balance Sheet Data
Presented in NZD, with conversion rates to AUD.
| Item | $NZ | Rate | $A |
|---|---|---|---|
| Cash (0.75) | 190,000 | ||
| Inventory (0.77) | 210,000 | ||
| Land & Buildings – Acquired 1/7/05 (1.00) | 220,000 | ||
| Plant & Equipment – Acquired 1/11/05 (0.90) | 110,000 | ||
| Accumulated Depreciation (0.90) | (10,000) | ||
| Deferred Tax Asset (0.75) | 10,000 | ||
| TOTAL ASSETS | 730,000 | ||
| Payables (0.75) | 100,000 | ||
| Current Tax Liability (0.75) | 70,000 | ||
| Borrowings (0.75) | 200,000 | ||
| TOTAL LIABILITIES | 370,000 | ||
| NET ASSETS | 360,000 | ||
| Share Capital (1.00) | 310,000 | ||
| Retained Earnings | 50,000 | ||
| TOTAL EQUITY | 360,000 |
Income Statement Data
Key financial performance metrics for the period.
| Item | $NZ | Rate | $A |
|---|---|---|---|
| Sales | 1,200,000 | ||
| Purchases | 1,020,000 | ||
| Ending Inventory | (210,000) | ||
| Cost of Goods Sold (COGS) | 810,000 | ||
| Gross Profit | 390,000 | ||
| Selling Expenses | 120,000 | ||
| Depreciation | 10,000 | ||
| Interest Expense | 20,000 | ||
| Other Expenses | 90,000 | ||
| Foreign Exchange (Gain)/Loss | |||
| Profit Before Tax | 150,000 | ||
| Income Tax Expense | 60,000 | ||
| Profit After Tax | 90,000 | ||
| Opening Retained Earnings | |||
| Dividend Paid/Proposed | 40,000 | ||
| Closing Retained Earnings | 50,000 |
Fundamental Accounting Equations
- Income Statement: Revenue - Expenses = Profit
- Statement of Change in Equity: Opening Retained Earnings + Profit - Dividends = Closing Retained Earnings
- Balance Sheet: Assets - Liabilities = Owners' Equity