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2024 Sample Financial Statements

The document presents financial statements for the year ended December 31, 2024, including an income statement showing a net income of $75,000, a balance sheet with total assets and liabilities/equity both at $500,000, and a cash flow statement indicating a net increase in cash of $55,000. The income statement highlights a gross profit of $200,000 and operating income of $100,000. The balance sheet reflects strong owner’s equity of $290,000 against total liabilities of $210,000.

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Shairi Jutt
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16 views2 pages

2024 Sample Financial Statements

The document presents financial statements for the year ended December 31, 2024, including an income statement showing a net income of $75,000, a balance sheet with total assets and liabilities/equity both at $500,000, and a cash flow statement indicating a net increase in cash of $55,000. The income statement highlights a gross profit of $200,000 and operating income of $100,000. The balance sheet reflects strong owner’s equity of $290,000 against total liabilities of $210,000.

Uploaded by

Shairi Jutt
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

Sample Financial Statements

Income Statement (for the year ended December 31, 2024)


Revenue 500,000
Cost of Goods Sold (300,000)
<b>Gross Profit</b> <b>200,000</b>
Operating Expenses (100,000)
<b>Operating Income</b> <b>100,000</b>
Interest Expense (10,000)
Income Tax Expense (15,000)
<b>Net Income</b> <b>75,000</b>

Balance Sheet (as of December 31, 2024)


<b>Assets</b>
Cash 50,000
Accounts Receivable 80,000
Inventory 120,000
Property, Plant & Equipment 250,000
<b>Total Assets</b> <b>500,000</b>

<b>Liabilities and Equity</b>


Accounts Payable 60,000
Long-term Debt 150,000
<b>Total Liabilities</b> <b>210,000</b>
Owner’s Equity 290,000
<b>Total Liabilities & Equity</b> <b>500,000</b>

Cash Flow Statement (for the year ended December 31, 2024)
Net Income 75,000
Depreciation 20,000
Change in Working Capital (10,000)
<b>Net Cash from Operating Activities</b> <b>85,000</b>
Purchase of Equipment (50,000)
<b>Net Cash from Investing Activities</b> <b>(50,000)</b>
Loan Proceeds 40,000
Dividends Paid (20,000)
<b>Net Cash from Financing Activities</b> <b>20,000</b>
<b>Net Increase in Cash</b> <b>55,000</b>

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