BUS591 – Financial Statement and Analysis

Week 1 Homework Assignment Templates

P1-3B, Prepare an income statement, retained earnings statement, and balance sheet; discuss results.

Instructions:
(a) Prepare an income statement and a retained earnings statement for the month of May and a balance sheet at May 31, 2014.

(b) Briefly discuss whether the company’s first month of operations was a success.

(c) Discuss the company’s decision to distribute a dividend.

P1-4B, Determine items to be included in a statement of cash flows, prepare a cash flow statement and discuss the results.

Instructions:
(a) Determine which items should be included in a statement of cash flows and then prepare the statement for Preacher Corporation.

(b) Comment on the adequacy of net cash provided by operating activities to fund the company’s investing activities and dividend payments.

(Continued) 
P2-7B, Compute values and ratios for the following; discuss results.

Instructions:
(a) For each company, compute these values and ratios:
be sure to show your computations!

(b) Compare the liquidity, profitability and solvency of the two companies.

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