HQN's 2018 accrual income statement
| Date | 2018 | |
|---|---|---|
| “+” | Cash receipts | $38,990 |
| “+” | Change in accounts receivable | ($440) |
| “+” | Change in inventories | $1,450 |
| “+” | Realized capital gains (losses) | $0 |
| Total revenue | $40,000 | |
| “+” | Cash cost of goods sold | $27,000 |
| “+” | Change in accounts payable | $1,000 |
| “+” | Cash overhead expenses | $11,078 |
| “+” | Change in accrued liabilities | ($78) |
| “+” | Depreciation | $350 |
| Total expenses | $39,350 | |
| Earnings before interest and taxes (EBIT) | $650 | |
| “−” | Less interest costs | $480 |
| Earnings before taxes (EBT) | $170 | |
| “−” | Less taxes | $68 |
| Net income after taxes (NIAT) | $102 | |
| “−” | Less dividends and owner draw | $287 |
| Addition to retained earnings | ($185) | |
| Date | 2018 | |
|---|---|---|
| “+” | Cash receipts | $38,990 |
| “+” | Change in accounts receivable | ($440) |
| “+” | Change in inventories | $1,450 |
| “+” | Realized capital gains (losses) | $0 |
| $40,000 | ||
| “+” | Cash cost of goods sold | $27,000 |
| “+” | Change in accounts payable | $1,000 |
| “+” | Cash overhead expenses | $11,078 |
| “+” | Change in accrued liabilities | ($78) |
| “+” | Depreciation | $350 |
| $39,350 | ||
| $650 | ||
| “−” | Less interest costs | $480 |
| $170 | ||
| “−” | Less taxes | $68 |
| $102 | ||
| “−” | Less dividends and owner draw | $287 |
| ($185) | ||
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