In this assignment, you will be generating a cash flow statement.
Please see the attached document for complete instructions and grading rubric, I am needing this by Sunday, July 30th by noon,12 pm (US CST) central standard time. Thank you very much for this tutoring help.
WGC Proforma Income
| Wicked Good Cupcakes | ||||||||||
| Pro Forma Income Statement | ||||||||||
| Pro Forma | Estimated | Pro Forma | ||||||||
| Actual Quarter | Quarter | Full Year | Year | |||||||
| Ended 9-30-2017 | Ended 12/31/2017 | Ended 12/31/2017 | Ended 12/31/2018 | |||||||
| Units Sold | 137000 | 205500 | 226050 | 259958 | ||||||
| Sales | 12650 | 13283 | 14611 | 16802 | ||||||
| Cost of Goods Sold | ||||||||||
| Labor | 2210 | 2321 | 2553 | 2935 | ||||||
| Materials | 2045 | 2147 | 2362 | 2716 | ||||||
| Overhead | 5685 | 5969 | 6566 | 7551 | ||||||
| Delivery | 305 | 320 | 352 | 405 | ||||||
| Total CoGS | 10245 | 10757 | 11833 | 13608 | ||||||
| Gross Margin | 2405 | 2525 | 2778 | 3194 | ||||||
| Expense | ||||||||||
| Selling Expense | 875 | 919 | 1011 | 1162 | ||||||
| General & Admin | 585 | 614 | 676 | 777 | ||||||
| Total Expenses | 1460 | 1533 | 1686 | 1939 | ||||||
| Operating profit (EIBT) | 945 | 992 | 1091 | |||||||
| Interest | 190 | 200 | 219 | 252 | ||||||
| Profit before Taxes | 755 | 793 | 872 | 1003 | ||||||
| Income Taxes | 272 | 286 | 314 | 361 | [The first two heading levels get their own paragraph, as shown here. Headings 3, 4, and 5 are run-in headings used at the beginning of the paragraph.] | |||||
| Net Income | 483 | 507 | 558 | 642 | ||||||
| Dividends | 100 | 105 | 116 | 133 | ||||||
| Retained Earnings | 383 | 402 | 442 | 509 | ||||||
| Depreciation | 575 | 604 | 664 | 764 | ||||||
| Net cash after divends | 958 | 1006 | 1106 | 1272 | ||||||
| Add back tax-adjusted interest | 122 | 128 | 141 | 162 | ||||||
| Add back divends | 100 | 105 | 116 | 133 | ||||||
| Cash flow from operations | 1180 | 1239 | 1363 | 1567 |
Sales
12650 13282.5 14610.750000000002 16802.362499999999
Time Period
Sales in $
Total CoGS
10245 10757.25 11832.975 13607.921249999999
Time Period
Cost in $
Pro-Forma Year Ended 12-31-18
WGC Proforma Balance Sheet
| Wicked Good Cupcakes | |||||||||||
| 612/1/201 | Pro Forma Income Statement | ||||||||||
| Actual | Pro Forma | Pro Forma | |||||||||
| Assets | 9/30/17 | Change | Ended 12/31/2017 | Change | Ended 12/31/2018 | ||||||
| Current Assets | |||||||||||
| Cash | 1450 | 5% | 1523 | 10% | 1675 | ||||||
| Accounts Receivable | 4250 | 5% | 4463 | 10% | 4909 | ||||||
| Raw Materials | 1500 | 5% | 1575 | 10% | 1733 | ||||||
| Finished Goods | 4050 | 5% | 4253 | 10% | 4678 | ||||||
| Total Current Assets | 11250 | 5% | 11813 | 10% | 12994 | ||||||
| Fixed Assets | |||||||||||
| Land | 2500 | 5% | 2625 | 10% | 2888 | ||||||
| Plant and equipment | 20800 | 5% | 21840 | 10% | 24024 | ||||||
| Less Accumulated depreciation | 8350 | 5% | 8768 | 10% | 9644 | ||||||
| Net plant and equipment | 12450 | 5% | 13073 | 10% | 14380 | ||||||
| Total Fixed Assets | 14950 | 5% | 15698 | 10% | 17267 | ||||||
| Other Assets | 1250 | 5% | 1313 | 10% | 1444 | ||||||
| Total Assets | 27450 | 5% | 28823 | 10% | 31705 | ||||||
| Liabilities and Net Worth | |||||||||||
| Current Liabilities | |||||||||||
| Accounts Payable | 1120 | 5% | 1176 | 10% | 1294 | ||||||
| Notes Payable | 3000 | 5% | 3150 | 10% | 3465 | ||||||
| Due Contractor | 3400 | 5% | 3570 | 10% | 3927 | ||||||
| Accrued taxes | 1250 | 5% | 1313 | 10% | 1444 | ||||||
| Total current liabilities | 8770 | 5% | 9209 | 10% | 10129 | ||||||
| Long-term liabilities | 8500 | 5% | 8925 | 10% | 9818 | ||||||
| Common Stock | 4250 | 5% | 4463 | 10% | 4909 | ||||||
| Retained earnings | 5930 | 5% | 6227 | 10% | 6849 | ||||||
| Total Liabilities and net worth | 27450 | 5% | 28823 | 10% | 31705 | ||||||
| Funds required |
Charts
Sales
12650 13282.5 14610.750000000002 16802.362499999999
Time Period
Sales in $
Total CoGS
10245 10757.25 11832.975 13607.921249999999
Time Period
Cost in $
,
Cash Flow Statement
| Cash Flow Statement 2016 | |||||
| ($ Thousands) | |||||
| Cash Flow from Operating Activities | Line(s) Used (e.g., 2015 Accounts Payable – 2016 Accounts Payable) | ||||
| Net income | |||||
| Change in Accounts Payable | |||||
| Change in Accounts Receivable | |||||
| Change in Inventory | |||||
| Other Adjustments: | |||||
| Accrued Expenses | |||||
| Depreciation Expense | |||||
| Income Taxes | |||||
| Net Cash provided by Operating Activities | |||||
| Cash Flow from Investing Activities | Line(s) Used | ||||
| Sale of Plant, Property and Equipment | |||||
| Purchase of Assets (Intangibles) | |||||
| Sales of other assets | |||||
| Income from short term investments (assumption from IS) | |||||
| Net Cash used in Investing Activities | |||||
| Cash Flows from Financing Activities | Line(s) Used | ||||
| Additions to long-term debts | |||||
| Cash dividends | |||||
| Repurchase of Treasury Stock | |||||
| Net cash used in Financing Activities | |||||
| Increase/Decrease in cash and cash equivalents | |||||
| Cash and Cash Equivalents at the beginning of the period | |||||
| Cash and Cash Equivalents at the end of the period | |||||
| ERROR:#REF! | ERROR:#REF! |
Balance Sheet
| ANNUAL BALANCE SHEET | |||
| ($ Thousands) | |||
| 31-Dec-15 | 31-Dec-16 | ||
| ASSETS | |||
| Cash & Short-Term Investments | $17.11 |