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Chemalite, Inc.Income Statement from January 1, 2003 to June 30, 2003
Sales $0 Cost of Sales $0 Gross Profit $0 Depreciation Expenses $0 Operating Expense ($7,500)Net Income ($7,500)
Chemalite, Inc.Cash Flows Statement from January 1, 2003 to June 30, 2003
Cash flows from Operating ActivitiesCash collectionsCash payments for purchasesCash payments for operating expensesInterest and taxes
Total cash paymentsNet cash provided by operating activities
Cash flows from InvestingPurchase of hard assets (machinery)
Total Cash flows from investing
Cash flows from FinancingSale of stock
Total cash flow from financing
Cash SummaryCash on January 1, 2003Net Change in CashCash on June 30, 2003
Chemalite, Inc.Cash Flows Statement from January 1, 2003 to June 30, 2003
$0 ($75,000)
($7,500)$0
($82,500)($82,500)
($62,500)($62,500)
$375,000 $375,000
$375,000 ($145,000)$230,000
Chemalite, Inc.Balance Sheet for June 30, 2003
AssetsCurrent Assets
CashAccounts ReceivableInventory
Total current assets
Fixed AssetsEquipmentPatent
Total fixed assetsIntangible assetsTotal assets
Liabilities and Shareholders EquityLiabilitiesCurrent Liabilities
Accounts payableTaxes payable
Total Current Liabilities
Long-term liabilitiesLong-term loans
Total liabilities
Shareholders' EquityCommon StockRetained Earnings
Total shareholders' equityTotal liabilities and shareholders' equity
Chemalite, Inc.Balance Sheet for June 30, 2003
$230,000 $0
$75,000 $305,000
$62,500 $125,000 $187,500
$0 $492,500
$0 $0 $0
$0 $0
$500,000 ($7,500)
$492,500 $492,500
Chemalite, Inc.Income Statement for the year ending Deceber 31, 2003
Sales $754,500 Cost of Sales
Materials ($195,000)Manufacturing ($350,000)
Total COGS ($545,000)Gross Profit $209,500
Gross Margin 28%Depreciation Expense ($25,000)Operating Expense ($133,750)Operating Income $50,750 Interest Expense ($750)Net Income before Taxes $50,000
Income TaxesNet Income after Taxes $50,000
Chemalite, Inc.Balance Sheet for the year ending Deceber 31, 2003
AssetsCurrent Assets
CashAccounts ReceivableInventory
Total current assets
Fixed AssetsEquipmentPatent
Total fixed assetsIntangible assetsTotal assets
Liabilities and Shareholders EquityLiabilitiesCurrent Liabilities
Accounts payableTaxes payable
Total Current Liabilities
Long-term liabilitiesLong-term loans
Total liabilities
Shareholders' EquityCommon StockRetained Earnings
Total shareholders' equityTotal liabilities and shareholders' equity
Chemalite, Inc.Balance Sheet for the year ending Deceber 31, 2003
$113,000 $69,500 $55,000
$237,500
$212,500 $100,000 $312,500
$0 $550,000
$0 $0 $0
$0 $0
$500,000 $50,000
$550,000 $550,000
Chemalite, Inc.Cash Flows Statement for the year ending Deceber 31, 2003
Cash flows from Operating ActivitiesCash collections
Cash payments for purchasesCash payments for operating expensesInterestTax
Total cash paymentsNet cash provided by operating activities
Cash flows from InvestingPurchase of hard assets (machinery)
Total Cash flows from investing
Cash flows from FinancingSale of stock
Total cash flow from financing
Cash SummaryNet Change in CashCash on January 1, 2003Cash on June 30, 2003
Chemalite, Inc.Cash Flows Statement for the year ending Deceber 31, 2003
$685,000 ($600,000)($133,750)
($750)$0
($734,500)($49,500)
($212,500)($212,500)
$375,000 $375,000
$113,000 $0
$113,000