Chemalite Inc

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Income Statement - 1H03

AB
1Chemalite, Inc.
2Income Statement from January 1, 2003 to June 30, 2003
3
4 Sales$0
5Cost of Sales$0
6Gross Profit$0
7Depreciation Expenses$0
8Operating Expense($7,500)
9Net Income($7,500)
10
Cash Flows - 1H03

AB
1Chemalite, Inc.
2Cash Flows Statement from January 1, 2003 to June 30, 2003 3
4 Cash flows from Operating Activities
5 Cash collections$0
6Cash payments for purchases($75,000)
7Cash payments for operating expenses($7,500)
8Interest and taxes$0
9Total cash payments($82,500)
10Net cash provided by operating activities($82,500)
11
12 Cash flows from Investing
13 Purchase of hard assets (machinery)($62,500)
14Total Cash flows from investing($62,500)
15
16 Cash flows from Financing
17 Sale of stock$375,000
18Total cash flow from financing$375,000
19
20 Cash Summary
21 Cash on January 1, 2003$375,000
22Net Change in Cash($145,000)
23Cash on June 30, 2003$230,000
24
Balance Sheet - 1H03

AB
1Chemalite, Inc.
2Balance Sheet for June 30, 2003
3
4 Assets
5 Current Assets
6 Cash$230,000
7Accounts Receivable$0
8Inventory$75,000
9Total current assets$305,000
10
11 Fixed Assets
12 Equipment$62,500
13Patent$125,000
14Total fixed assets$187,500
15Intangible assets$0
16Total assets$492,500
17
18 Liabilities and Shareholders Equity
19 Liabilities
20 Current Liabilities
21 Accounts payable$0
22Taxes payable$0
23Total Current Liabilities$0
24
25 Long-term liabilities
26 Long-term loans$0
27Total liabilities$0
28
29 Shareholders' Equity
30 Common Stock$500,000
31Retained Earnings($7,500)
32Total shareholders' equity$492,500
33Total liabilities and shareholders' equity$492,500
34
Income Statement - 2003

AB
1Chemalite, Inc.
2Income Statement for the year ending Deceber 31, 2003
3
4 Sales$754,500
5Cost of Sales
6 Materials($195,000)
7Manufacturing($350,000)
8Total COGS($545,000)
9Gross Profit$209,500
10Gross Margin28%
11Depreciation Expense($25,000)
12Operating Expense($133,750)
13Operating Income$50,750
14Interest Expense($750)
15Net Income before Taxes$50,000
16Income Taxes
17 Net Income after Taxes$50,000
18
Balance Sheet - 2003

AB
1Chemalite, Inc.
2Balance Sheet for the year ending Deceber 31, 2003
3
4 Assets
5 Current Assets
6 Cash$113,000
7Accounts Receivable$69,500
8Inventory$55,000
9Total current assets$237,500
10
11 Fixed Assets
12 Equipment$212,500
13Patent$100,000
14Total fixed assets$312,500
15Intangible assets$0
16Total assets$550,000
17
18 Liabilities and Shareholders Equity
19 Liabilities
20 Current Liabilities
21 Accounts payable$0
22Taxes payable$0
23Total Current Liabilities$0
24
25 Long-term liabilities
26 Long-term loans$0
27Total liabilities$0
28
29 Shareholders' Equity
30 Common Stock$500,000
31Retained Earnings$50,000
32Total shareholders' equity$550,000
33Total liabilities and shareholders' equity$550,000
34
Cash Flows - 2003

AB
1Chemalite, Inc.
2Cash Flows Statement for the year ending Deceber 31, 2003
3
4 Cash flows from Operating Activities
5 Cash collections$685,000
6Cash payments for purchases($600,000)
7Cash payments for operating expenses($133,750)
8Interest($750)
9Tax$0
10Total cash payments($734,500)
11Net cash provided by operating activities($49,500)
12
13 Cash flows from Investing
14 Purchase of hard assets (machinery)($212,500)
15Total Cash flows from investing($212,500)
16
17 Cash flows from Financing
18 Sale of stock$375,000
19Total cash flow from financing$375,000
20
21 Cash Summary
22 Net Change in Cash$113,000
23Cash on January 1, 2003$0
24Cash...
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