TO BE DONE BY Asmalhotra ONLY Add 2008 data into the spreadsheet. Also, make sure debt to total asset ratio is listed for year 2008. Answer this question and add to memo: Which users may be in

TO BE DONE BY Asmalhotra ONLY

Add 2008 data into the spreadsheet. Also, make sure debt to total asset ratio is listed for year 2008.

Answer this question and add to memo: Which users may be interested in each type of ratio?

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Berry’s Bug Blasters
2007
2006
2005
Amount
Percentage
Amount
Percentage
Amount
Percentage
Revenue
$3,893,027.78
100.00%
$1,903,504.00
100.00%
$439,142.54
100.00%
Direct Expenses
Salaries & Wages
$583,954.17
15.00%
$266,490.56
14.00%
$54,834.19
12.49%
Traps & Chemicals
$1,651,100.81
42.41%
$769,239.08
40.41%
$177,465.14
40.41%
Fuel
$19,177.32
0.49%
$6,605.36
0.35%
$1,523.87
0.35%
Vehicle Maintenance
$77,860.56
2.00%
$38,070.08
2.00%
$360.00
0.08%
$2,332,092.85
59.90%
$1,080,405.08
56.76%
$234,183.20
53.33%
Indirect Expenses
Rent
$38,192.40
0.98%
$18,540.00
0.97%
$17,274.19
3.93%
Licenses
$2,480.00
0.06%
$985.00
0.05%
$385.00
0.09%
Interest Expense
$0.00
0.00%
$3,496.12
0.18%
$2,796.89
0.64%
Insurance
$103,613.43
2.66%
$50,662.00
2.66%
$10,000.00
2.28%
Admin. Salaries
$133,500.00
3.43%
$66,026.00
3.47%
$31,096.00
7.08%
Commissions
$52,860.49
1.36%
$58,070.08
3.05%
$4,824.85
1.10%
Payroll Taxes
$84,734.61
2.18%
$42,964.53
2.26%
$9,983.05
2.27%
Legal Expenses
$12,000.00
0.31%
$3,045.00
0.16%
$800.00
0.18%
Accounting Fees
$7,000.00
0.18%
$5,000.00
0.26%
0.00%
Office Supplies
$7,800.00
0.20%
$3,900.00
0.20%
$3,000.00
0.68%
Utilities
$9,824.00
0.25%
$4,802.48
0.25%
$3,559.50
0.81%
Advertising Expenses
$81,510.00
2.09%
$97,210.00
5.11%
$92,900.00
21.15%
Bad Debts
$103,493.45
2.66%
$61,865.53
3.25%
$5,196.68
1.18%
Depreciation Expense
$94,925.75
2.44%
$81,056.63
4.26%
$13,523.83
3.08%
Misc. Expenses
$60,000.00
1.54%
$32,000.00
1.68%
$10,000.00
2.28%
$791,934.13
20.34%
$529,623.36
27.82%
$205,339.99
46.76%
Net Income
$769,000.80
19.75%
$293,475.56
15.42%
($380.65)
-0.09%
Berry’s Bug Blasters
2007
2006
Increase / Decrease
Amount
Amount
Amount
Percentage
Revenue
$3,893,027.78
$1,903,504.00
$1,989,523.78
104.52%
Direct Expenses
Salaries & Wages
$583,954.17
$266,490.56
$317,463.61
119.13%
Traps & Chemicals
$1,651,100.81
$769,239.08
$881,861.73
114.64%
Fuel
$19,177.32
$6,605.36
$12,571.96
190.33%
Vehicle Maintenance
$77,860.56
$38,070.08
$39,790.48
104.52%
$2,332,092.85
$1,080,405.08
$1,251,687.77
115.85%
Indirect Expenses
Rent
$38,192.40
$18,540.00
$19,652.40
106.00%
Licenses
$2,480.00
$985.00
$1,495.00
151.78%
Interest Expense
$0.00
$3,496.12
($3,496.12)
-100.00%
Insurance
$103,613.43
$50,662.00
$52,951.43
104.52%
Admin. Salaries
$133,500.00
$66,026.00
$67,474.00
102.19%
Commissions
$52,860.49
$58,070.08
($5,209.59)
-8.97%
Payroll Taxes
$84,734.61
$42,964.53
$41,770.08
97.22%
Legal Expenses
$12,000.00
$3,045.00
$8,955.00
294.09%
Accounting Fees
$7,000.00
$5,000.00
$2,000.00
40.00%
Office Supplies
$7,800.00
$3,900.00
$3,900.00
100.00%
Utilities
$9,824.00
$4,802.48
$5,021.52
104.56%
Advertising Expenses
$81,510.00
$97,210.00
($15,700.00)
-16.15%
Bad Debts
$103,493.45
$61,865.53
$41,627.92
67.29%
Depreciation Expense
$94,925.75
$81,056.63
$13,869.12
17.11%
Misc. Expenses
$60,000.00
$32,000.00
$28,000.00
87.50%
$791,934.13
$529,623.36
$262,310.75
49.53%
Net Income
$769,000.80
$293,475.56
$475,525.26
162.03%

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Berry’s Bug Blasters
2007
2006
2005
Amount
Percentage
Amount
Percentage
Amount
Percentage
Current Asset
Cash
$291,703.44
19.46%
$32,901.07
6.06%
$12,501.92
11.34%
Accounts Receivable
$811,047.45
54.11%
$198,281.67
36.50%
$36,595.21
33.19%
Inventory
$205,934.30
13.74%
$82,373.72
15.16%
$20,593.43
18.68%
Total Current Assets
$1,308,685.20
87.31%
$313,556.47
57.72%
$69,690.56
63.20%
Fixed Assets
Vehicles
$268,750.00
17.93%
$268,750.00
49.48%
$43,000.00
39.00%
Tools
$110,953.00
7.40%
$55,476.60
10.21%
$11,095.30
10.06%
Less Accumulated Depreciation
($189,506.20)
-12.64%
($94,580.45)
-17.41%
($13,523.83)
-12.27%
Total Fixed Assets
$190,196.80
12.69%
$229,646.15
42.28%
$40,571.47
36.80%
Total Assets
$1,498,882.00
100.00%
$543,202.62
100.00%
$110,262.03
100.00%
Liabilities
Current Liabilities
Accrued Payroll Taxes
$42,367.31
2.83%
$21,482.27
3.95%
$4,991.53
4.53%
Accounts Payable
$324,418.98
21.64%
$158,625.33
29.20%
$690.00
0.63%
Total Current Liabilities
$366,786.29
24.47%
$180,107.60
33.16%
$5,681.53
5.15%
Long‐Term Liabilities
Auto Loans
$0.00
0.00%
$0.00
0.00%
34961.16
31.71%
Total Long‐Term Liabilities
$0.00
0.00%
$0.00
0.00%
$34,961.16
31.71%
Total Liabilities
$366,786.29
24.47%
$180,107.60
33.16%
$40,642.69
36.86%
Stockholders Equity
$70,000.00
4.67%
$70,000.00
12.89%
$70,000.00
63.49%
Retained Earnings
$293,094.91
19.55%
($380.65)
-0.07%
($380.65)
-0.35%
Net Income
$769,000.80
51.30%
$293,475.56
54.03%
0.00%
Total Stockholders Equity
$1,132,095.71
75.53%
$363,094.91
66.84%
$69,619.35
63.14%
$1,498,882.00
100.00%
$543,202.51
100.00%
$110,262.04
100.00%
Berry’s Bug Blasters
2007
2006
Increase / Decrease
Amount
Amount
Amount
Percentage
Current Asset
Cash
$291,703.44
$32,901.07
$258,802.37
786.61%
Accounts Receivable
$811,047.45
$198,281.67
$612,765.78
309.04%
Inventory
$205,934.30
$82,373.72
$123,560.58
150.00%
Total Current Assets
$1,308,685.20
$313,556.47
$995,128.73
317.37%
Fixed Assets
Vehicles
$268,750.00
$268,750.00
$0.00
0.00%
Tools
$110,953.00
$55,476.60
$55,476.40
100.00%
Less Accumulated Depreciation
($189,506.20)
($94,580.45)
($94,925.75)
100.37%
Total Fixed Assets
$190,196.80
$229,646.15
($39,449.35)
-17.18%
Total Assets
$1,498,882.00
$543,202.62
$955,679.38
175.93%
Liabilities
Current Liabilities
Accrued Payroll Taxes
$42,367.31
$21,482.27
$20,885.04
97.22%
Accounts Payable
$324,418.98
$158,625.33
$165,793.65
104.52%
Total Current Liabilities
$366,786.29
$180,107.60
$186,678.69
103.65%
Long‐Term Liabilities
Auto Loans
$0.00
$0.00
$0.00
Total Long‐Term Liabilities
$0.00
$0.00
$0.00
Total Liabilities
$366,786.29
$180,107.60
$186,678.69
103.65%
Stockholders Equity
Common Stock
$70,000.00
$70,000.00
$0.00
0.00%
Retained Earnings
$293,094.91
($380.65)
$293,475.56
-77098.53%
Net Income
$769,000.80
$293,475.56
$475,525.24
162.03%
Total Stockholders Equity
$1,132,095.71
$363,094.91
$769,000.80
211.79%
Total Liabilities and Total Stockhold $1,498,882.00
$543,202.51
$955,679.49
175.93%
Common Stock
(1,000,000 authorized shares at
$1 par
Total Liabilities and Total
Stockholders Equity

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Income Statement
1/1/2008 – 12/31/2008
Revenue
$3,249,580.53
Direct Expenses
Salaries & Wages
$487,437.08
Vehicle Maintenance
$64,991.61
Fuel
$20,449.80
Traps & Chemicals
$1,378,203.63
$1,951,082.12
$1,951,082.12
Indirect Expenses
Rent
$39,338.17
Licenses
$2,480.00
Insurance
$103,613.43
Administrative Salaries
$150,250.00
Commissions
$16,991.61
Payroll Taxes
$72,014.66
Legal Expenses
$12,000.00
Accounting Fees
$7,000.00
Office Supplies
$7,800.00
Utilities
$10,806.40
Advertising Expenses
$116,000.00
Bad Debts
$122,138.64
Depreciation Expense
$94,925.75
Misc. Expense
$50,000.00
$805,358.66
$805,358.66
Total Expenses
$2,756,440.78
$2,756,440.78
Net Income
$493,139.75
Balance Sheet
12/31/2008
Current Assets
Cash
$818,440.68
Accounts Receivable
$812,395.13
Inventory
$205,934.30
Total Current Assets
$1,836,770.12
Fixed Assets
Vehicles
$268,750.00
Tools
$110,953.00
Less Accumulated Depreciation
($284,431.95)
Total Fixed Assets
$95,271.05
Total Assets
$1,932,041.17
Liabilities

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Current Liabilities
Accrued Payroll Taxes
$36,007.33
Accounts Payable
$270,798.38
Total Current Liabilities
$306,805.71
Long-Term Liabilities
$0.00
Total Liabilites
$306,805.71
Stockholders Equity
Common Stock
(1,000,000 authorized shares at $1 par)
$70,000.00
Retained Earnings
$1,062,095.71
Net Income
$493,139.75
Total Stockholders Equity
$1,625,235.46
Total Liabilities & Stockholders Equity
$1,932,041.17

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