FIN 197 - Seminar in Finance
FinGame Statements Blitz
Income Statement Q1 Q2 Q3
Sales Revenue $ 11,859,295 $ 9,000,000 $ 10,500,000
Income from Securities $ 4,573 $ 22,020 $ 5,023
Cost of Goods Sold:
Beginning Inventory $ 733,567 $ - $ -
Materials $ 1,500,000 $ 1,500,000 $ 1,500,000
Direct Labor $ 3,559,500 $ 3,620,012 $ 3,681,552
Total Direct Costs $ 5,059,500 $ 5,120,011 $ 5,181,551
Warehousing Costs $ - $ - $ -
Depreciation: Mach. and Equip. $ 478,125 $ 478,125 $ 478,125
Plant $ 1,300,000 $ 1,300,000 $ 1,300,000
Other Overhead Costs $ 200,000 $ 200,000 $ 200,000
Total Indirect Costs $ 1,978,125 $ 1,978,125 $ 1,978,125
Production Costs $ 7,037,625 $ 7,098,137 $ 7,159,677
Goods Available for Sale $ 7,771,192 $ 7,098,136 $ 7,159,676
Less: Ending Inventory $ - $ - $ -
Cost of Goods Sold $ 7,771,192 $ 7,098,136 $ 7,159,676
Gross Profit $ 4,092,676 $ 1,923,883 $ 3,345,346
Selling and Administrative Expenses $ 1,592,965 $ 1,453,000 $ 1,535,000
Financial Expenses:
Short Term Bank Interest $ - $ - $ -
Penalty Loan Interest $ - $ - $ 604
Intermediate Term Loan Interest $ 92,749 $ 83,213 $ 193,994
Bond Interest $ 33,600 $ 33,600 $ 1,195,899
Bond Redemption Costs $ - $ - $ -
Total Financial Charges $ 126,349 $ 116,813 $ 1,390,497
Operating Income Before Extraordinary Items $ 2,373,363 $ 354,071 $ 419,849
Extraordinary Items $ - $ - $ -
Income Before Taxes $ 2,373,362 $ 354,070 $ 419,849
Income Tax (rate is 40%) $ 949,344 $ 141,628 $ 167,940
Income After Taxes $ 1,424,018 $ 212,442 $ 251,909
Preferred Stock Dividend $ - $ - $ -
Earnings to Common Stockholders $ 1,424,018 $ 212,442 $ 251,909
Common Stock Dividends $ 100,000 $ 100,000 $ 100,000
Net Income Transferred to Retained Earnings $ 1,324,018 $ 112,442 $ 151,909
Balance Sheet Q1 Q2 Q3
ASSETS
Current Assets
Cash $ 267,939 $ 3,153,924 $ 242
Marketable Securities $ 200,000 $ 218,236 $ 197,482
Accounts Receivable $ 7,945,728 $ 6,030,000 $ 7,035,000
Inventory $ - $ - $ -
Total Current Assets $ 8,413,665 $ 9,402,160 $ 7,232,723
Fixed Assets (net of depreciation)
Machinery and Equipment $ 2,008,125 $ 1,530,000 $ 3,081,875
Plant $ 7,165,250 $ 5,865,250 $ 24,115,250
Total Fixed Assets $ 9,173,375 $ 7,395,250 $ 27,197,125
Total Assets $ 17,587,040 $ 16,797,410 $ 34,429,848
LIABILITIES AND OWNER EQUITY
Current Liabilities
Accounts Payable $ 525,950 $ 532,001 $ 538,155
Short Term Loans Payable $ - $ - $ -
Short Term Penalty Loan $ - $ - $ -
Intermediate Term Debt Maturing $ 1,850,000 $ 1,552,500 $ 2,002,500
Bonds Maturing $ 1,200,000 $ 1,200,000 $ 2,900,000
Total Current Liabilities $ 3,575,950 $ 3,284,501 $ 5,440,655
Long Term Liabilities
Intermediate Loans: 2 years $ 937,500 $ 626,875 $ 501,250
Intermediate Loans: 3 years $ - $ - $ 875,000
Bonds $ 1,200,000 $ 900,000 $ 15,475,000
Total Long Term Liabilities $ 2,137,500 $ 1,526,875 $ 16,851,250
Total Liabilities $ 5,713,450 $ 4,811,376 $ 22,291,905
Owners' equity
Preferred Stock $ - $ - $ -
Common Stock $ 8,000,000 $ 8,000,000 $ 8,000,000
Retained Earnings $ 3,873,590 $ 3,986,034 $ 4,137,943
Total Equity $ 11,873,591 $ 11,986,032 $ 12,137,943
Total Liabilities and Equity $ 17,587,040 $ 16,797,410 $ 34,429,848
Stock Price $18.68 $14.63 $13.37
Accumulated Wealth Per Share $18.78 $14.84 $13.68
Number of Common Shares Outstanding 1,000,000 1,000,000 1,000,000
Q4 Q5 Q6 Q7 Q8 Q9
$ 10,620,779 $ 14,300,000 $ 13,250,514 $ 11,431,000 $ 14,820,000 $ 14,950,000
$ 4,466 $ (9,872) $ 120,549 $ 18,153 $ - $ -
$ - $ - $ - $ - $ - $ -
$ 1,500,000 $ 1,950,000 $ 2,130,000 $ 1,491,000 $ 1,950,000 $ 1,950,000
$ 3,744,138 $ 4,656,778 $ 5,173,075 $ 3,861,202 $ 4,895,179 $ 4,869,327
$ 5,244,137 $ 6,606,778 $ 7,303,074 $ 5,352,201 $ 6,845,178 $ 6,819,326
$ - $ - $ 142,008 $ - $ - $ -
$ 638,125 $ 886,832 $ 976,832 $ 945,020 $ 1,197,470 $ 1,256,888
$ 1,300,000 $ 1,966,500 $ 2,514,300 $ 2,514,300 $ 2,451,900 $ 2,451,900
$ 200,000 $ 187,310 $ 187,310 $ 187,310 $ 187,310 $ 196,077
$ 2,138,125 $ 3,040,641 $ 3,820,449 $ 3,646,629 $ 3,836,679 $ 3,904,864
$ 7,382,263 $ 9,647,420 $ 11,123,525 $ 8,998,831 $ 10,681,858 $ 10,724,192
$ 7,382,262 $ 9,647,420 $ 11,123,524 $ 8,998,831 $ 10,681,858 $ 10,724,191
$ - $ - $ - $ - $ - $ -
$ 7,382,262 $ 9,647,420 $ 9,351,124 $ 8,998,831 $ 10,681,858 $ 10,724,191
$ 3,242,982 $ 4,642,707 $ 4,019,939 $ 2,450,321 $ 4,138,141 $ 4,225,808
$ 1,531,039 $ 1,715,000 $ 1,662,526 $ 1,571,550 $ 1,741,000 $ 1,747,500
$ - $ - $ 104,500 $ 72,875 $ 48,250 $ 74,713
$ - $ - $ - $ - $ - $ -
$ 456,948 $ 226,319 $ 234,056 $ 62,848 $ 77,621 $ 118,740
$ 1,484,507 $ 1,382,343 $ 1,330,179 $ 1,278,015 $ 1,225,851 $ 1,173,687
$ - $ - $ - $ - $ - $ -
$ 1,941,455 $ 1,608,662 $ 1,668,735 $ 1,413,738 $ 1,351,722 $ 1,367,140
$ (229,511) $ 1,319,046 $ 688,679 $ (534,967) $ 1,045,420 $ 1,111,169
$ - $ - $ (1,063,500) $ - $ 15,000,000 $ -
$ (229,510) $ 1,319,045 $ (374,822) $ (534,966) $ 16,045,419 $ 1,111,168
$ (91,804) $ 527,618 $ (149,928) $ (213,986) $ 6,418,167 $ 444,467
$ (137,706) $ 791,427 $ (224,894) $ (320,980) $ 9,627,252 $ 666,701
$ - $ - $ - $ - $ - $ -
$ (137,706) $ 791,427 $ (224,894) $ (320,980) $ 9,627,252 $ 666,701
$ - $ - $ - $ - $ - $ -
$ (137,706) $ 791,427 $ (224,894) $ (320,980) $ 9,627,252 $ 666,701
Q4 Q5 Q6 Q7 Q8 Q9
$ 19,560,718 $ 4,096,729 $ 1,071,628 $ 2,947,062 $ 13,835,364 $ 1,600,154
$ 197,482 $ 5,040,388 $ 5,040,388 $ 790,388 $ - $ -
$ 1,232,110 $ 9,581,000 $ 8,877,844 $ 7,658,770 $ 9,929,400 $ 10,016,500
$ - $ - $ - $ - $ - $ -
$ 20,990,308 $ 18,718,116 $ 14,989,859 $ 11,396,219 $ 23,764,764 $ 11,616,653
$ 4,578,750 $ 4,851,574 $ 6,386,242 $ 7,460,822 $ 6,501,353 $ 5,789,481
$ 40,201,248 $ 38,234,748 $ 41,547,448 $ 39,033,148 $ 36,581,248 $ 50,099,348
$ 44,780,000 $ 43,086,322 $ 47,933,690 $ 46,493,970 $ 43,082,601 $ 55,888,829
$ 65,770,308 $ 61,804,438 $ 62,923,549 $ 57,890,189 $ 66,847,365 $ 67,505,482
$ 544,414 $ 679,409 $ 749,038 $ 553,951 $ 703,249 $ 701,540
$ - $ - $ 1,500,000 $ 1,000,000 $ 500,000 $ 750,000
$ - $ - $ - $ - $ - $ -
$ 3,669,164 $ 1,065,000 $ 1,376,875 $ 626,250 $ 1,000,625 $ 1,437,500
$ 3,400,000 $ 3,400,000 $ 3,100,000 $ 2,800,000 $ 2,500,000 $ 2,200,000
$ 7,613,578 $ 5,144,409 $ 6,725,914 $ 4,980,201 $ 4,703,874 $ 5,089,041
$ 125,625 $ 62,500 $ 375,000 $ 250,000 $ 406,250 $ 562,500
$ 3,666,667 $ 2,291,667 $ 2,291,667 $ - $ - $ -
$ 19,125,000 $ 18,275,000 $ 17,725,000 $ 17,175,000 $ 16,625,000 $ 16,075,000
$ 22,917,291 $ 20,629,166 $ 20,391,666 $ 17,425,000 $ 17,031,250 $ 16,637,500
$ 30,530,868 $ 25,773,574 $ 27,117,579 $ 22,405,201 $ 21,735,123 $ 21,726,540
$ 10,245,483 $ 10,245,483 $ 10,245,483 $ 10,245,483 $ 10,245,483 $ 10,245,483
$ 20,993,718 $ 20,993,718 $ 20,993,718 $ 20,993,718 $ 20,993,718 $ 20,993,718
$ 4,000,240 $ 4,791,663 $ 4,566,769 $ 4,245,787 $ 13,873,041 $ 14,539,741
$ 35,239,436 $ 36,030,868 $ 35,805,968 $ 35,484,992 $ 45,112,240 $ 45,778,944
$ 65,770,308 $ 61,804,438 $ 62,923,549 $ 57,890,189 $ 66,847,365 $ 67,505,482
$4.58 $4.28 $3.80 $3.60 $10.92 $11.76
$4.91 $4.63 $4.17 $3.98 $11.32 $12.19
3,000,000 3,000,000 3,000,000 3,000,000 3,000,000 3,000,000