Financial StatementsCash Flow, and Taxes必看课件资料.ppt

Balance sheet Income statement Statement of cash flows Accounting income versus cash flow MVA and EVA Personal taxes Corporate taxes Income Statement 2001 2002 Sales 3,432,000 5,834,400 COGS 2,864,000 4,980,000 Other expenses 340,000 720,000 Deprec. 18,900 116,960 Tot. op. costs 3,222,900 5,816,960 EBIT 209,100 17,440 Int. expense 62,500 176,000 EBT 146,600 (158,560) Taxes (40%) 58,640 (63,424) Net income 87,960 (95,136) What happened to sales and net income? Sales increased by over $2.4 million. Costs shot up by more than sales. Net income was negative. However, the