Using all following three Financial Statements provide an analysis on Apix's assets, liabilities, cash, and profit. As well, choose 2 additional components on each of the sheets, and provide your initial impression on the company financial situation.
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Apex Printing
Balance Sheets
As of December 31, 2013 and 2012
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000$
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000$
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Assets
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2013
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2012
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Cash
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6,000
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5,700
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Accounts Receivable
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2,350
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2,300
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Inventory
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12,100
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6,500
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Total Current Assets
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20,450
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14,500
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Land
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25,000
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20,000
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Building & Equipment
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300,000
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300,000
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Less: Accumulated Depreciation - Building & Equipment
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(187,850)
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(160,000)
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Total Long Term Assets
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137,150
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160,000
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Total Assets
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157,600
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174,500
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Liabilities and Stockholders' Equity
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Accounts Payable
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4,600
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3,500
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Salaries Payable
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0
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2,100
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Interest Payable
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1,500
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0
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Short Term Notes Payable
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12,000
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0
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Taxes Payable
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0
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5,600
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Total Current Liabilities
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18,100
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11,200
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Mortgate Payable
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54,950
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100,000
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Total Long Term Liabilities
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54,950
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100,000
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Common Stock
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60,000
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60,000
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Retained Earnings
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24,550
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3,300
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Total Stockholders' Equity
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84,550
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63,300
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Total Liabilities and Stockholders' Equity
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157,600
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174,500
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Apex Printing
Income Statements
For the Periods Ended December 31, 2013 and 2012
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000$
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000$
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2013
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2012
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Revenue:
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450,000
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475,000
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Less: Cost of Goods Sold
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(324,300)
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(374,500)
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Less: Depreciation Expense
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(27,850)
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(26,000)
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Gross Margin
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97,850
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74,500
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Selling, General & Administrative Expenses
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(29,100)
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(32,000)
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Income Before Interest & Taxes
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68,750
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42,500
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Interest Expense
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(7,500)
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(6,000)
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Income Before Taxes
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61,250
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36,500
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Income Taxes
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(35,000)
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(30,000)
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Net Income
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26,250
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6,500
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Apex Printing
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Statement of Cash Flows
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For the Period Ended December 31, 2013
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000$
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Cash Flows from Operating Activities:
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Net Income
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26,250
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Adjustments to reconcile net income to net cash provided by operating activities
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Depreciation Expense
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27,850
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Increase in accounts receivable
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(50)
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Increase in inventory
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(5,600)
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Decrease in salaries payable
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(2,100)
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Increase in interest payable
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1,500
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Decrease in taxes payable
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(5,600)
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Increase in Short Term notes Payable
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12,000
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Increase in accounts payable
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1,100
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Net Cash Flow from Operating Activities
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55,350
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Cash Flows from Investing Activities:
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Cash paid to purchase land
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(5,000)
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Net Cash Flow from Investing Activities
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(5,000)
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Cash Flows From Financing Activities:
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Cash paid for mortgage
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(45,050)
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Cash paid for dividends
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(5,000)
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Net Cash Flow from Financing Activities
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(50,050)
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Net Increase in Cash
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300
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Plus: Cash Balance at December 31, 2012
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5,700
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Cash Balance at December 31, 2013
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6,000
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