GH259400TOMPUOLS65II 2019-12-31 GH259400TOMPUOLS65II 2020-01-01 2020-12-31 GH259400TOMPUOLS65II 2020-12-31 iso4217:USD

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Balance Sheet
ABC Company, Inc.
(See accompanying notes to the financial statements.)
 
(in US Dollars) As of December 31, 2020 As of December 31, 2019
ASSETS  
Current Assets:  
Cash and cash equivalents $-648551.94) $398937.76)
Receivables 2035468.27) 1231338.47)
Inventories 451842.19) 467010.20)
Current assets 1838758.52) 2097286.43)
   
Noncurrent Assets:  
Property, plant, and equipment 1245567.16) 1266995.32)
Noncurrent assets 1245567.16) 1266995.32)
   
Assets $3084325.68) $3364281.75)
   
LIABILITIES AND EQUITY  
LIABILITIES  
Current liabilities:  
Accounts payable $2689452.31) $1595349.42)
Current liabilities 2689452.31) 1595349.42)
   
Noncurrent liabilities:  
Long-term debt 338349.05) 361285.69)
Noncurrent liabilities 338349.05) 361285.69)
   
Liabilities 3027801.36) 1956635.11)
EQUITY  
Retained earnings 56524.32) 1407646.64)
Equity 56524.32) 1407646.64)
   
Liabilities and equity $3084325.68) $3364281.75)
   
Income Statement
ABC Company, Inc.
(See accompanying notes to the financial statements.)
 
(in US Dollars) For period ended December 31, 2020
Sales $2604048.36)
Cost of Sales 886041.18)
Gross Profit (Loss) 1718007.18)
  
Operating Expenses: 
Depreciation and amortization 21428.16)
Sales, general, and administative 3049867.27)
Operating expenses 3071295.43)
  
Operating Income (Loss) -1353288.25)
  
Nonoperating income (expenses) 2165.93)
Income (loss) before taxes -1351122.32)
Income tax expense (benefit) 0)
Net income (loss) -1351122.32)
  
Cash Flow Statement
ABC Company, Inc.
(See accompanying notes to the financial statements.)
 
(in US Dollars) For period ended December 31, 2020
Net cash flow from operating activities: 
Collection of receivables $2072035.32)
Payment of accounts payables (3096588.38)
Net cash flow from operating activities -1024553.06)
  
Net cash flow from financing activities: 
Additional long-term borrowings 10554.36)
Repayment of long-term borrowings (33491.00)
Net cash flow from financing activities -22936.64)
  
Net cash flow from investing activities: 
Capital additions of property, plant, and equipment (0)
Net cash flow from investing activities 0.00)
  
Net cash flow -1047489.70)
Cash and cash equivlents, beginning balance 398937.76)
Cash and cash equivlents,ending balance $-648551.94)
  
Statement of Changes in Equity
ABC Company, Inc.
(See accompanying notes to the financial statements.)
 
(in US Dollars) For period ended December 31, 2020
Changes in equity: 
Equity, beginning balance $1407646.64)
Net income (loss) -1351122.32)
Equity, ending balance $56524.32)
  
Cash and Cash Equivalents Roll Forward
ABC Company, Inc.
 
(in US Dollars) For period ended December 31, 2020
Cash and cash equivalents roll forward: 
Cash and cash equivalents, beginning balance $398937.76)
Collection of receivables 2072035.32)
Payment of payables (3096588.38)
Additional long-term borrowings 10554.36)
Repayment of long-term borrowings (33491.00)
Capital additions of property, plant, and equipment (0)
Cash and cash equivalents, ending balance $-648551.94)
  
Receivables Roll Forward
ABC Company, Inc.
 
(in US Dollars) For period ended December 31, 2020
Receivables roll forward: 
Receivables, beginning balance $1231338.47)
Sales 2604048.36)
Collection of receivables (1799918.56)
Receivables, ending balance $2035468.27)
  
Inventories Roll Forward
ABC Company, Inc.
 
(in US Dollars) For period ended December 31, 2020
Inventories roll forward: 
Inventories, beginning balance $467010.20)
Purchases of inventories for sale 870873.17)
Cost of sales (886041.18)
Inventories, ending balance $451842.19)
  
Property, Plant and Equipment Roll Forward
ABC Company, Inc.
 
(in US Dollars) For period ended December 31, 2020
Property, plant, and equipment roll forward: 
Property, plant, and equipment, beginning balance $1266995.32)
Capital additions of property, plant, and equipment 0)
Depreciation and amortization (21428.16)
Property, plant, and equipment, ending balance $1245567.16)
  
Accounts Payable Roll Forward
ABC Company, Inc.
 
(in US Dollars) For period ended December 31, 2020
Accounts payable roll forward: 
Accounts payable, beginning balance $1595349.42)
Purchases of inventory for sale 2983739.70)
Payment of accounts payable (1889636.81)
Accounts payable, ending balance $2689452.31)
  
Long-term Debt Roll Forward
ABC Company, Inc.
 
(in US Dollars) For period ended December 31, 2020
Long-term debt roll forward: 
Long-term debt, beginning balance $361285.69)
Additional long-term borrowings 10554.36)
Repayment of long-term borrowings (33491.00)
Long-term debt, ending balance $338349.05)
  
Retained Earnings Roll Forward
ABC Company, Inc.
 
(in US Dollars) For period ended December 31, 2020
Retained earnings roll forward: 
Retained earnings, beginning balance $1407646.64)
Net income (loss) -1351122.32)
Retained earnings, ending balance $56524.32)