Two years ago, Statesboro was selected as the location for the newest NFL team, the Georgia Peach Bums. The Peach Bums have a multiple owner/publicly traded corporation ownership model. As part of this model, the investors purchased 25,000,000 shares of common stock at $1 per share. Unfortunately, they have lost all of their financial statements from 2014.
Please use the following accounts and balances to create a Balance Sheet as of 12/31/2014 (ending balances only) and an Income Statement for the Year Ended 2014. Make a table with professional quality. Indicate the date and categories clearly.
*All amounts in millions (USD)
Accounts Payable $3
Accounts Receivable, net $3
Accrued expenses $2
Capital Lease Obligations $5
Cash $4
Common Stock $25
Cost of Goods Sold $5
Intangible Assets $3
Interest Income (Expense) -$4
Inventories $6
Net Revenue $35
Other Long-term Liabilities $1
Other Non-current Assets $4
Property and Equipment, net $25
Retained Earnings $4
Revolving Credit (Loan) $5
Selling G&A $23
Taxes $1
Additionally, please create a Statement of Cash Flows for the Year Ended 2014 using the following information:
All amounts in millions (USD)
Accounts Payable $1
Accounts Receivable $3
Depreciation $5
Inventories ($1)
Net Income $2
Payments of Long-term debt ($4)
Proceeds from sale of equipment $6
Process from stock issuance $8
Purchase of Property & Equipment ($18)