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JIM Cash Flows JIM Income Stmt JIM Bal Sheet JIM Cost of Goods Manuf Cost of Goods Manufactured Consolidated “000” Omitted Activity Manufacturing cost for the period: Raw material Purchases of Raw Materials Raw materials available Ending balance Total raw materials used Direct Labor Factory Variable overhead Indirect labor Supplies Fixed overhead Supervisor’s salary Utilities Factory property taxes Factory assets depreciation Factory insurance Total current period manufacturing costs Total cost to account for Cost of goods manufactured Cost of Goods Sold Consolidated Cost of goods available for sale Cost of goods sold Income Statement Consolidated (dollars in thousands) INCOME Sales Gross margin Interest on checking account TOTAL INCOME OPERATING EXPENSES Compensation of Officers Salaries FICA FUTA and SUTA Advertising expenses State income taxes Administrative expenses Bad debt expense Headquarters’ property tax Charitable contributions TOTAL OPERATING EXPENSES Net operating income Interest Expense NET INCOME BEFORE TAXES Federal tax expense NET INCOME Administrative expenses include: Repairs and maintenance Rents Depreciation Pension, profit sharing Employee Benefit Programs Balance Sheet Consolidated ASSETS Current assets: Cash Accounts receivable, net Inventory Prepaid expenses Total current assets Property and equipment: Land Plant and equipment Total property and equipment TOTAL ASSETS LIABILITIES & STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable Notes payable, short term Total current liabilities Long term liabilities: Bonds payable, 8% Total liabilities Stock holder’ equity: Common stock Retained earnings Total stockholders’ equity TOTAL LIABILITIES & STOCKHOLDERS’ EQUITY Statement of Cash Flows Consolidated Cash sales Cash…