Use the 2012 income statement and balance sheet below to complete a Strategic Profit Model for Jones Company.
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Income Statement 2012
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Jones Company
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Sales
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$200,000
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Cost of Goods Sold
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$130,000
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Gross Margin
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$ 70,000
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Transportation Cost
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$6,000
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Warehousing Cost
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$3,000
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Inventory Carrying Cost
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$1,000
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Other Operating Costs
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$30,000
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Total Operating Costs
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$40,000
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Earnings before interest and taxes
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$30,000
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Interest
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$11,000
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Taxes
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$6,000
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Net Income
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$13,000
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Balance Sheet 2012
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Assets
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Cash
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$20,000
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Accounts Receivable
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$35,000
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Inventory
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$15,000
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Total Current Assets
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$70,000
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Net Fixed Assets
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$80,000
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Total Assets
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$150,000
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Liabilities
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Current Liabilities
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$60,000
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Long-Term Debt
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$30,000
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Total Liabilities
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$90,000
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Shareholder's Equity
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$60,000
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Total Liabilities and Equity
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$150,000
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