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Answer the Following
- What are the five accounting classifications?
- What accounting classifications are displayed on the Income Statement?
- Give two examples of a Current Asset
- What type of an asset is the account Patent?
- What is the definition of a current asset?
- Classify the account Mortgage Payable
- How do you calculate Gross Profit
- How do you calculate Operating Income?
- List an example of a non-operating income account.
- What classification is the account Retained Earnings?
Circle the Correct Answer. SHOW YOUR WORK Where Required
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CMR302 Test1
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- Gilbert, Inc. had the following account balances at September 30, 2010. What is Gilbert’s net income for the month of September?
- Sales = $12,000, Cost of Sales = $4,000, Operating Expenses = $ 1,000, Other Expenses = $ 2,000. What is the Gross Profit?
- NBC Company had $32,000 in net sales, $15,000 in cost of merchandise sold, $14,000 in operating expenses, and $2,000 in other income. What is NBC Company’s operating profit?
- Expenses that CANNOT be traced directly to operations are identified as
- On the Statement of Cash Flows, where is the purchase of property, plant and equipment recorded?
- On the Statement of Cash Flows, where are dividends recorded?
- Assets = $ 14,000 Equity = $ 6,000 Liabilities = __________________
- Liabilities = 4,000 Assets = $ 7,000 Equity =__________________
Inventory10,000
Cash14,300
Equipment15,400
Fees Earned54,400
Miscellaneous Expense18,200
Rent Expense2,000
Retained Earnings6,550
Wages Expense 13,900
- $32,450
- $10,300SHOW YOUR WORK
- $20,300
- $1 8, 1 50
___________________________SHOW YOUR WORK
- $17,000
- $3,000SHOW YOUR WORK
- $1,000
- ($1, 000)
- Other income.
- Operating expenses.
- Cost of goods sold.
- Other expenses.
____________________________
_____________________________
The Economy (Fill-In)
- Which indicator is the best indicator of consumer inflation?
- Which indicator measures unemployment and employee hourly wages?
- Which indicator is a leading indicator of economic growth
- What can an increase in inventories mean?
- Which economic theory believes that the government should not intervene during a fiscal crisis?
Domino’s Pizza (Fill-In)
Use the Domino’s Pizza Statement of Cash Flows listed below to answer the following questions.
Omit trailing zeros when entering data. Use brackets ( ) to indicate cash used in the statement.
- 2012 Cash Flow from Operations
- 2014 Cash Flow from Investing
- 2014 Cash Flow from Financing
- What was the primary Operating activity and the amount for 2013?
- What was the primary Financing activity and the amount for 2012?
- The company did not borrow funds in 2013TF
- The company paid dividends in 2012TF
- The company had a positive cash flow from Financing in 2013:TF
- What was the highest amount borrowed over the three year period?
Domino’s Pizza, Inc. (DPZ)
110.77 1.05(0.94%)
| Period Ending | Dec 28, 2014 | Dec 29, 2013 | Dec 30, 2012 |
| Net Income | 162,587 | 142,985 | 112,392 |
| Operating Activities, Cash Flows Provided By or Used In | |||
| Depreciation | 41,534 | 31,677 | 37,767 |
| Adjustments To Net Income | (11,805) | 7,654 | 6,065 |
| Changes In Accounts Receivables | (12,710) | (11,001) | (6,917) |
| Changes In Liabilities | 24,560 | 22,716 | 27,716 |
| Changes In Inventories | (11,627) | (242) | (703) |
| Changes In Other Operating Activities | — | — | — |
| Total Cash Flow From Operating Activities | 192,339 | 193,989 | 176,320 |
| Investing Activities, Cash Flows Provided By or Used In | |||
| Capital Expenditures | (70,093) | (40,387) | (29,267) |
| Investments | — | — | — |
| Other Cash flows from Investing Activities | 12,650 | (59,346) | 36,615 |
| Total Cash Flows From Investing Activities | (57,443) | (99,733) | 7,348 |
| Financing Activities, Cash Flows Provided By or Used In | |||
| Dividends Paid | (52,643) | (34,241) | (185,464) |
| Sale Purchase of Stock | (73,379) | (87,681) | (79,293) |
| Net Borrowings | (12,332) | (24,349) | 109,491 |
| Other Cash Flows from Financing Activities | 19,656 | 11,467 | 10,375 |
| Total Cash Flows From Financing Activities | (118,898) | (134,804) | (177,449) |
| Effect Of Exchange Rate Changes | 474 | 118 | (1,698) |
| Change In Cash and Cash Equivalents | 16,472 | (40,430) | 4,521 |
Using the financial statements listed below, complete the following:
Omit trailing zeros when entering data.
- Total Revenue for 2015_______________________
- Net Income (Loss) for 2016_______________________
- Current Assets for 2017_______________________
- Total Liabilitiesfor 2017_______________________
- Cash Flow from Operations 2016_______________________
- Stockholder’s Equity for 2015_______________________
- Inventory for 2016_______________________
- Primary Financing Activity (Stmt of Cash Flows) for 2016 _______________________
- Net Income from Continuing Operations for 2015_______________________
- Accounts Payable for 2015_______________________
- Total Assets for 2016_______________________
- Cash flow from Investing 2015_______________________
- Cost of Revenue 2016_______________________
- Gross Profit 2015_______________________
- Retained Earnings 2016_______________________
- Primary Operating Activity (Stmt of Cash Flows) for 2016_______________________
- Selling, General and Administrative Expenses for 2015_______________________
- Income Tax Expense 2016 _______________________
| Income Statement | |||
| All numbers in thousands | |||
| Revenue | 12/31/2017 | 12/31/2016 | 12/31/2015 |
| Total Revenue | 40,653,000 | 27,638,000 | 17,928,000 |
| Cost of Revenue | 5,454,000 | 3,789,000 | 2,867,000 |
| Gross Profit | 35,199,000 | 23,849,000 | 15,061,000 |
| Operating Expenses | |||
| Research Development | 7,754,000 | 5,919,000 | 4,816,000 |
| Selling General and Administrative | 7,242,000 | 5,503,000 | 4,020,000 |
| Operating Income or Loss | 20,203,000 | 12,427,000 | 6,225,000 |
| Income from Continuing Operations | |||
| Earnings Before Interest and Taxes | 20,594,000 | 12,518,000 | 6,194,000 |
| Income Before Tax | 20,594,000 | 12,518,000 | 6,194,000 |
| Income Tax Expense | 4,660,000 | 2,301,000 | 2,506,000 |
| Net Income From Continuing Ops | 15,920,000 | 10,188,000 | 3,669,000 |
| Net Income | 15,920,000 | 10,188,000 | 3,669,000 |
| Balance Sheet | |||||||||
| All numbers in thousands | |||||||||
| Period Ending | 12/31/2017 | 12/31/2016 | 12/31/2015 | ||||||
| Current Assets | |||||||||
| Cash And Cash Equivalents | 8,079,000 | 8,903,000 | 4,907,000 | ||||||
| Short Term Investments | 33,632,000 | 20,546,000 | 13,527,000 | ||||||
| Net Receivables | 5,832,000 | 3,993,000 | 2,559,000 | ||||||
| Inventory | – | – | – | ||||||
| Other Current Assets | 1,020,000 | 959,000 | 659,000 | ||||||
| Total Current Assets | 48,563,000 | 34,401,000 | 21,652,000 | ||||||
| Long Term Investments | – | – | – | ||||||
| Property Plant and Equipment | 13,721,000 | 8,591,000 | 5,687,000 | ||||||
| Goodwill | 18,221,000 | 18,122,000 | 18,026,000 | ||||||
| Intangible Assets | 1,884,000 | 2,535,000 | 3,246,000 | ||||||
| Accumulated Amortization | – | – | – | ||||||
| Other Assets | 2,135,000 | 1,312,000 | 796,000 | ||||||
| Deferred Long Term Asset Charges | – | – | – | ||||||
| Total Assets | 84,524,000 | 64,961,000 | 49,407,000 | ||||||
| Current Liabilities | |||||||||
| Accounts Payable | 3,272,000 | 2,505,000 | 1,645,000 | ||||||
| Short/Current Long Term Debt | 390,000 | 280,000 | 224,000 | ||||||
| Other Current Liabilities | 98,000 | 90,000 | 56,000 | ||||||
| Total Current Liabilities | 3,760,000 | 2,875,000 | 1,925,000 | ||||||
| Long Term Debt | – | – | 107,000 | ||||||
| Other Liabilities | 6,417,000 | 2,892,000 | 3,157,000 | ||||||
| Deferred Long Term Liability Charges | – | – | – | ||||||
| Minority Interest | – | – | – | ||||||
| Negative Goodwill | – | – | – | ||||||
| Total Liabilities | 10,177,000 | 5,767,000 | 5,189,000 | ||||||
| Stockholders’ Equity | |||||||||
| Misc. Stocks Options Warrants | – | – | – | ||||||
| Redeemable Preferred Stock | – | – | – | ||||||
| Preferred Stock | – | – | – | ||||||
| Common Stock | – | – | – | ||||||
| Retained Earnings | 33,990,000 | 21,670,000 | 9,787,000 | ||||||
| Treasury Stock | – | – | – | ||||||
| Capital Surplus | 40,584,000 | 38,227,000 | 34,886,000 | ||||||
| Other Stockholder Equity | -227,000 | -703,000 | -455,000 | ||||||
| Total Stockholder Equity | 74,347,000 | 59,194,000 | 44,218,000 | ||||||
| Cash Flow | |||
| All numbers in thousands | |||
| Period Ending | 12/31/2017 | 12/31/2016 | 12/31/2015 |
| Net Income | 15,920,000 | 10,188,000 | 3,669,000 |
| Operating Activities, Cash Flows Provided By or Used In | |||
| Depreciation | 3,025,000 | 2,342,000 | 1,945,000 |
| Adjustments To Net Income | 3,370,000 | 2,791,000 | 3,903,000 |
| Changes In Accounts Receivables | -1,609,000 | -1,489,000 | -973,000 |
| Changes In Liabilities | 3,534,000 | 2,392,000 | 1,904,000 |
| Changes In Inventories | – | – | – |
| Changes In Other Operating Activities | -38,000 | -145,000 | -147,000 |
| Total Cash Flow From Operating Activities | 24,216,000 | 16,108,000 | 10,320,000 |
| Investing Activities, Cash Flows Provided By or Used In | |||
| Capital Expenditures | -6,733,000 | -4,491,000 | -2,523,000 |
| Investments | -13,250,000 | -7,186,000 | -6,700,000 |
| Other Cash flows from Investing Activities | -55,000 | -62,000 | -211,000 |
| Total Cash Flows From Investing Activities | -20,038,000 | -11,739,000 | -9,434,000 |
| Financing Activities, Cash Flows Provided By or Used In | |||
| Dividends Paid | – | – | – |
| Sale Purchase of Stock | -1,976,000 | -1,976,000 | -1,976,000 |
| Net Borrowings | – | -312,000 | -119,000 |
| Other Cash Flows from Financing Activities | -3,259,000 | 2,000 | -20,000 |
| Total Cash Flows From Financing Activities | -5,235,000 | -310,000 | -139,000 |
| Effect Of Exchange Rate Changes | 233,000 | -63,000 | -155,000 |
| Change In Cash and Cash Equivalents | -824,000 | 3,996,000 | 592,000 |
