Game Card

Financial Statements
December 31, 2017

Prepared By Peter Lewis

Purpose 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 $ 417,600
Less returns and allowances 34,100
Net Sales 383,500

Cost of Goods
Inventory, January 1 123,200
Purchases 78,000
Delivery Charges 14,400
Total Merchandise Handled 215,600

Less Inventory, December 31 114,600

Cost of Goods Sold 101,000

Gross Profit 282,500

Interest Income 3,700

Total Income 286,200

Expenses
Salaries and Benefits 125,200
Utilities 14,300
Rent 10,100
Office Supplies 6,800
Insurance 4,500
Advertising 9,300
Website 3,100
Taxes & Licenses 8,700
Total Expenses 182,000

Net Income $ 104,200

 Game Card Expenses

Taxes & Licenses; 4.78%

Website; 1.70%
Advertising; 5.11%

Insurance; 2.47%

Office Supplies; 3.74%

Rent; 5.55%

Utilities; 7.86%

Salaries and Benefits; 68.79%

Game Card
Balance Sheet
December 31, 2017

Current
Assets Amounts % of Total
Cash $ 15,500 8.4%
Accounts Receivable 5,500 3.0%
Inventory 114,600 62.1%
Fixed Assets 21,800 11.8%
Other 27,200 14.7%
Total Assets $ 184,600 100.0%
Current Asset s
Cash
Accounts Rec eivable
Inventor y
Fixed Assets
Other

Liabilities Amounts % of Total

Accounts Payable $ 13,100 9.2%
Business Loans 75,200 53.0%
Capital Investments 31,400 22.1%
Other Debts 22,300 15.7%
Total Liabilities $ 142,000 100.0%
Current Liabi li ties

Accounts Paya ble

Business Loans

Capital Investments

Other Debt s

Net Worth $ 42,600 23.1%

Total Liabilities and Equity $ 184,600 100.0%
Game Card
Cash Flow Statement
End of Year: 2017

Operating Cash Flow

Net Income After Tax $ 104,200
Depreciation 3,200
Increase in Accounts Receivable (9,100)
Increase in Inventory (15,300)
Decrease in Accounts Payable (4,700)
Increase in Accrued Expenses 6,300
Total Operating Cash Flow 84,600

Investing Cash Flow

Purchase of Equipment $ (31,500)
Decrease in Notes Receivable 700
Total Investing Cash Flow (30,800)

Financing Cash Flow

Increase in Long Term Notes Payable $ 21,500
Increase in Term Loan 4,500
Conversion of Notes to Shareholders -
Total Financing Cash Flow 26,000

Total Cash Flow 79,800

Cash at beginning of the year 73,100

Cash at the end of the year $ 152,900