CHAPTER 2 Financial Statements, Cash Flow, and Taxes Balance sheet Income statement Statement of cash flows Accounting income vs. cash flow MVA and EVA Federal tax system 2­1 The Annual Report Balance sheet firm’s financial – provides a snapshot of a position at one point in time. Income statement – summarizes a firm’s revenues and expenses over a given period of time. Statement of retained earnings – shows how much of the firm’s earnings were retained, rather than paid out as dividends. Statement of cash flows – reports the impact of a firm’s activities on cash flows over a given period of time. 2­2 Balance Sheet: Assets Cash A/R Inventories 2002 7,282 632,160 1,287,360 2001 57,600 351,200 715,200 Total CA 1,926,802 1,124,000 Gross FA 1,202,950 491,000 Less: Dep. 263,160 146,200 Net FA 939,790 344,800 Total Assets 2,866,592 1,468,800 2­3 Balance sheet: Liabilities and Equity Accts payable Notes payable Accruals Total CL Long­term debt Common stock Retained earnings Total Equity Total L & E 2002 524,160 636,808 489,600 1,650,568 723,432 460,000 32,592 492,592 2,866,592 2001 145,600 200,000 136,000 481,600 323,432 460,000 203,768 663,768 1,468,800 2­4 Income statement Sales COGS Other expenses EBITDA Depr. & Amort. EBIT Interest Exp. EBT Taxes Net income 2002 6,034,000 5,528,000 519,988 (13,988) 116,960 (130,948) 136,012 (266,960) (106,784) (160,176) 2001 3,432,000 2,864,000 358,672 209,328 18,900 190,428 43,828 146,600 58,640 87,960 2­5 ... - tailieumienphi.vn