art 1: Financial Statement Construction Exercise
Take the following results for JJ's Jammers and create a Balance Sheet and Income Statement in the 2012 columns of the template showing JJ's Jammers 2011 results (In alphabetical order). Make sure you make the embedded calculations for the caption accounts (like total Current Assets or Gross Profit)
Cost of Goods sold 1158228: Depreciation and Amortization 83729: Dividends 5310: Interest (5.5%) 56000: Net Sales 1701013: Selling and Admin Expenses 247637: Taxes (33%) 51287.
Part 2: Cash Flow Reconciliation
Now that you have completed the Balance Sheet and Income Statement portion of the assignment, conduct a Cash Flow Reconciliation. You will need to use net figures as indicated by the line items.