Credit Evaluation School - June 2022

FINANCIAL EXHIBITS 12-31-x9 ABC Corporation (CPAAudited) Cash 100 AP

300 GP 4,000

AR

1,000 CPLTD 200 COGS 3,000

Inventory 90 CL

500 NP 1,000

CA FA NR TA RE

1,190 LTD 1,700 TL

1,000 Op Exp

500 500 190 310

2,000 NI

290 Capital 3,180 Surplus 980 Op Exp

100 Taxes 100 NIAT

NW 1,180 includes TL & NW 3,180 50 M in depreciation

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FINANCIAL EXHIBITS Note Abbreviations: (CHECK INSIDE OF REPORT COVER)

BALANCE SHEET

AR - Accounts Receivable

AP - Accounts Payable

CA - Current Assets

CPLTD - Current Portion of Long-Term Debt

FA - Fixed Assets

CL - Current Liabilities

NR - Notes Receivable CSVLI-Cash surrender value life insurance

LTD - Long-term debt TL - Total Liabilities UP/RE- Undivided Profits NW - Net Worth

INCOME STATEMENT

GP - Gross Profit NP – Net Profit

COGS - Cost of Goods Sold

NI - Net Income

NIAT - Net Income After Taxes

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