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    FS Barlett

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    mixx
    The Bartlett Company saw an increase in sales revenue and gross profits from 2005 to 2006. Net profits after taxes increased to $231,000 in 2006 from $148,000 in 2005. Total assets increased to $3,597,000 in 2006 from $3,270,000 in 2005. Cash and marketable securities increased to $431,000 in 2006 from $339,000.

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    FS Barlett

    Uploaded by

    mixx
    32 views4 pages
    The Bartlett Company saw an increase in sales revenue and gross profits from 2005 to 2006. Net profits after taxes increased to $231,000 in 2006 from $148,000 in 2005. Total assets increased to $3,597,000 in 2006 from $3,270,000 in 2005. Cash and marketable securities increased to $431,000 in 2006 from $339,000.

    Original Description:

    Financial Statement

    Original Title

    FS-BARLETT

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    The Bartlett Company saw an increase in sales revenue and gross profits from 2005 to 2006. Net profits after taxes increased to $231,000 in 2006 from $148,000 in 2005. Total assets increased to $3,597,000 in 2006 from $3,270,000 in 2005. Cash and marketable securities increased to $431,000 in 2006 from $339,000.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    32 views4 pages

    FS Barlett

    Uploaded by

    mixx
    The Bartlett Company saw an increase in sales revenue and gross profits from 2005 to 2006. Net profits after taxes increased to $231,000 in 2006 from $148,000 in 2005. Total assets increased to $3,597,000 in 2006 from $3,270,000 in 2005. Cash and marketable securities increased to $431,000 in 2006 from $339,000.

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    © All Rights Reserved
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    of 4

    BARTLETT COMPANY

    Statement of Comprehensive Income ($000)


    For the years ended
    December 31
    2006 2005
    shares of common stock outstanding
    Sales revenue $ 3,074 $ 2,567 – 76,262 in 2006 and 76,244 in 2005.
    Less: Cost of Goods Sold 2,088 1,711
    Gross profits $ 986 $ 856
    Less: Operating Expenses
    DPS = dollar amount of
    dividends paid to common
    Selling expense $ 100 $ 108
    stockholders divide by the
    General and administrative expenses 194 187
    no. of shares of common
    Lease expense 35 35 stock outstanding.
    Depreciation expense 239 223
    Total operating expense $ 568 $ 553 Dividends per share in
    Operating profits $ 418 $ 303 2006:
    Less: Interest expense 93 91
    $98,000 / 76,262 = $1.29
    Net profits before taxes $ 325 $ 212
    Dividends per share in
    Less: Taxes (rate = 29%) 94 64 2005:
    Net profits after taxes $ 231 $ 148 $57,183 / 76,244 = $0.75
    Less: Preferred stock dividends 10 10
    Earnings available for common stockholders $ 221 $ 138
    BARTLETT COMPANY

    Statement of Financial Position ($000)

    For the years ended For the years ended


    December 31 December 31
    2006 2005 2006 2005

    Current Assets Current liabilities

    Cash $ 363 $ 288 Accounts payable $ 382 $ 270

    Marketable securities 68 51 Notes payable 79 99

    Accounts receivable 503 365 Accruals 159 114

    Inventories 289 300 Total current liabilities $ 620 $ 483

    Total current assets $ 1,223 $ 1,004 Long-term debt $ 1,023 $ 967

    Gross fixed assets (at cost) Total liabilities $ 1,643 $ 1,450

    Land and buildings $ 2,072 $ 1,903 Stockholders’ equity

    Machinery and equipment 1,866 1,693 Preferred stock – cumulative 5%,


    $100 par, 2,000 shares authorized and
    Furniture and fixtures 358 316 issued $ 200 $ 200
    Vehicles 275 314 Common stock - $2.50 par, 100,000
    shares authorized, shares issued and
    Other (include financial leases) 98 96 outstanding in 2006: 76,262; in 2005:
    76,244 191 190
    Total gross fixed assets $ 4,669 $ 4,322 Paid-in capital in excess of par – C.S. 428 418

    Less: Accumulated depreciation 2,295 2,056 Retained Earnings 1,135 1,012

    Net fixed assets $ 2,374 $ 2,266 Total stockholders’ equity $ 1,954 $ 1,820

    Total assets $ 3,597 $ 3,270 Total liab. and stockholders’ equity $ 3,597 $ 3,270
    BARTLETT COMPANY
    Statement of changes in Equity ($000)

    December 31, 2006

    Retained earnings balance (January 1, 2006) $ 1,012

    Plus: Net profits after taxes (for 2006) 231

    Less: Cash dividends (paid during 2006)

    Preferred stock $ 10

    Common stock 98

    Total dividends paid 108

    Retained earnings balance (December 31, 2006) $ 1,135


    BARTLETT COMPANY
    Statement of Cash Flows ($000)

    Cash Flow from Operating Activities: Increase in long-term debt 56


    Net profits after taxes $ 231 Changes in stockholders’ equity 11
    Depreciation 239 Dividends paid (108)
    Increase in accounts receivable (138) Cash provided by financing activities (61)
    Decrease in inventories 11 Net increase in cash and
    Increase in accounts payable 112 marketable securities $ 92

    Increase in accruals 45 Add: Cash and Marketable securities –


    beginning bal. ($ 288 + 51) 339
    Cash provided by operating activities $ 500
    Cash and Marketable securities –
    Cash Flow from Investment Activities: ending bal. ($ 363 + $ 68) $ 431

    Increase in gross fixed assets ($ 347)


    The amount should be the same
    Change in business interests 0 total cash and marketable
    Cash provided by investment activities (347) securities balance sheet for the
    year 2006 .

    Cash Flow from Financing Activities:


    Decrease in notes payable ($ 20)

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