To avoid any uncertainty regarding his business' financing needs at the time when such needs may arise, Cyrus Brown wants to develop a cash budget for his latest venture: Cyrus Brown Manufacturing (CBM). He has estimated the following sales forecast for CBM over the next 9 months:March$100,000April$275,000May$320,000June$450,000July$700,000August$700,000September$825,000October$500,000November$115,000He has also gathered the following collection estimates regarding the forecast sales:Payment collection within the month of sale = 25%Payment collection the month following sales = 55%Payment collection the second month following sales = 20%Payments for direct manufacturing costs like raw materials and labor are made during the month that follows the one in which such costs have been incurred. These costs are estimated as follows:March$187,500April$206,250May$375,000June$337,500July$431,250August$640,000September$395,000October$425,000Additional financial information is as follows:Administrative salaries will approximately amount to $35,000 a month.Lease payments around $15,000 a month.Depreciation charges, $15,000 a month.A one-time new plant investment in the amount of $95,000 is expected to be incurred and paid in June.Income tax payments estimated to be around $55,000 will be due in both June and September.And finally, miscellaneous costs are estimated to be around $10,000 a month.Cash on hand on March 1 will be around $50,000, and a minimum cash balance of $50,000 shall be on hand at all times.To receive full credit on this assignment, please show all work, including formulas and calculations used to arrive at the financial values.Group Project GuidelinesPrepare a monthly cash budget for Cyrus Brown Manufacturing for the 9-month period of March through November.Use Excel to prepare the monthly cash budget.An Excel spreadsheet that contains your monthly cash budget for Cyrus Brown Manufacturing.

PLEASE READ CAREFULLY ALL WORK MUST BE SHOWN - USE THE SPREADSHEET ATTACHEDREQUIREMENTS Record the necessary journal entries for 2016 Prepare Income Statement and Retained Earnings Statement for the year 2016 Prepare Balance Sheet on December 31,2016 Show full work of all the financial items reported in Income Statement and Balance Sheet. Please round your calculations closest to $. Ignore tax.Description GeneralProducts Inc. is incorporated in Nevada, USA on Jan 1st 2013 to take over a local retail chain. The objective of the company is to supply goods of everyday use to customers at the most competitive prices. GeneralProducts has established a chain of stores throughout USA. The retail operations of the company are so designed that customers can shop seamlessly in stores and online.You may use the attached Balance Sheet of GeneralProducts as of Dec 2015 and the financial data for 2016.The same information is provided below.Balance Sheet of GeneralProducts Inc. on December 31, 2015ASSETSCurrent Assets Cash and Cash Equivalent 11,980 Accounts Receivables 20,520 Inventory 317,060 Inventory of Premiums (@0.10 per premium) 660 Total Current Assets 350,220LONG TERM ASSETS Investments 66,775 Property Plant and Equipment 750,000 Less Accumulated Depreciation 90,000660,000 Total Long Term Assets 726,775INTANGIBLE ASSETS Trade Marks 190,000Total Assets 1,266,995LIABILITIES AND SHAREHOLDERS' EQUITY Current Liabilities Accounts Payable 50,772 Liability for Premiums and Coupons 550 5% Short Term Notes Payable due on March 31, 2016 8,000 Accrued Interest on 6% Bonds Payable 3,000 Total Current Liabilities 62,2726% Bonds Payable due 2020 100,000 Unamortized Discount on Bonds Payable 6,73293,268Total Liabilities 155,540Stockholder's Equity Common Stock 125,000 shares, par value $1 authorized 100,000 shares issued and outstanding 130,000 Paid inCapital in Excess of Par 946,000 Retained Earnings 35,455 Total nStockholders' Equity 1,111,455 Total Liabilities and Stockholders' Equity 1,266,995 GeneralProducts provides us financial and business related data for 2016 below. Trades Marks were acquired for $200,000 in 2015.Estimated useful at the time of acquisition was 20 years There was a litigation brought out by a competitor against the Trade Mark. GeneralProducts could successfully defend this litigation at a cost of $ 45,000. New useful life of Trade Mark is estimated to be 25 years from the date of acquisition.All sales are on credit and total $ 940,560. COGS are $780,650.Included in the total sales of $940,560 are the sales of GeneralProducts brand 6000 soap powder boxes GeneralProducts includes one coupon in every soap powder box. Customers can redeem 4 coupons for one Kitchen utensil. Based on past experience 60% of the coupons are redeemed by customers. During 2016 3,400 coupons were redeemed. Purchase of premiums during 2016 total 1,000 premiums @ $1.10 each on credit. 6% Bonds Payable are issued on Jan 1 2015 to yield 8% interest. Interest is paid semi-annualy on Jan 1st and June 30th. General Products can redeem these Bonds any time after June 30,2016 @ 101. To take advantage of lower interest rates and to finance the redemption of 6% Bonds on Sept.1st 2016, GeneralProducts issued 5%Bonds in the face value of $100,000 to yield 6% The maturity period of these 5% Bonds is 10 years and interest is paid semi-annually on 1st Jan and 30th June. The proceeds from the issue of 5% Bonds are used to redeem 6% Bonds Payable @ 101 on Sept.1st 2016. Selling Administrative Expenses excluding depreciation are $87,345. PP&E is depreciated on Striaght Line Method over 25 years of life. Cash collected from customers total $906,450 Cash paid to suppliers for credit purchases total $728,254 Purcahses of inventory total $689,525.All purchases are on credit. GeneralProducts purchased Land for $30,000 for construction of building

Here’s a link to the annual report for Lancaster Colony, which is a mid-sized company in the Food industry. You can find the financial statements halfway through the annual report.http://www.lancastercolony.com/investors/sec-filings-and-annual-reports/annual-reports/default.aspxAssume a new vice-president is leading your unit and you have been asked to provide her with a reviewof your corporation’s financial statements. The VP professes to know “next to nothing” aboutaccounting and financial reports but trusts your new-found skills in understanding the statements.Prepare a written report that: Identifies the primary financial statements, their purpose, and the elements and types of lineitems contained in the statements. Discuss how the structure of the statements is affected bythe type of legal structure of your company and the type of business it conducts. Explains the connection between the statement of earnings and the balance sheet and also howthe statement of cash flows connects to the statement of earnings and balance sheet. Calculates the fourteen ratios listed on the following page and discusses the trends andpositive/negative nature of the ratios (individually, but in the context of the four categories). Inyour separate ratio listing, show the detail (numerator and denominator) used for each of theratios, and calculate two years of ratios so that a basic sense of the trend can be seen. Roundthe numbers in an appropriate manner, and show percentages as percentages.Assessment:Grading will be based on the accuracy of the calculations (42 points: 14 ratios x 3 points each) and onthe quality of the narrative (33 points: Structure/flow of the report and presentation of the ratios,quality of the writing (sentence structure, appropriate language), and professionalism of the financialstatement review.RATIOSLiquidity1) Working Capital2) Current Ratio3) Quick Ratio4) Free Cash FlowActivity5) Accounts Receivable Turnover6) Days Sales in A/R7) Inventory Turnover8) Days Sales in InventorySolvency9) Debt to Equity Ratio10) Interest Coverage Ratio (Times Interest Earned)Profitability11) Gross Profit Margin12) Return on Assets13) Return on Equity14) “EBITDA”