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Financial Statements

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Financial Statements

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Financial Statements:

Kindly use the following questions as guidelines to your assigned case study:

  1. What challenges does Shelby Givens face:
  2. During Phase I (Preparing for the Transformation)
  3. During Phase II (Renovation and Grand Opening)
  4. During Phase III (2011/2012 Operations)
  5. By the end of the case, what has Givens done to address the challenges outlined at each stage listed in Question (1) above?
  6. Which of the actions executed by Givens were most successful in resolving the challenges? Which were least successful? What other options might Givens have pursued?
  7. Is Sugar Bowl a viable business? Which forces have the most positive, or negative, impact on the business’s profitability?
  8. Givens considers two paths for Wednesday night entertainment: league bowling and exclusive band rights.
  9. Which option will generate more revenue in the short term? Long term?
  10. Is revenue how success should be measured? Which path do you think is best for Sugar Bowl, and why?
  11. Once Sugar Bowl’s financials are more stable, what changes could Givens make to build a stronger organization and culture?

Financial Statements

EX 1 – Balance Sheet

Balance Sheet
December 31, 2006-2012 2006 2007 2008 2009 2010 2011
ASSETS
Current Assets
Cash $ 35,488 $ 24,473 $ 29,667 $ 9,057 $ 298,806 $ 66,594
Inventory $ 15,412 $ 6,571 $ 2,943 $ 4,200 $ 24,005 $ 83,950
Fixed Assets
Property, Plant & Equipment $ 54,007 $ 132,103 $ 184,122 $ 178,046 $ 408,500 $ 658,962
Total Assets $ 104,907 $ 163,147 $ 216,732 $ 191,303 $ 731,311 $ 809,506
LIABILITIES
Accounts Payable $ 14,907 $ 15,000 $ 25,000 $ 30,000 $ 25,488 $ 51,995
Debt $ 40,000 $ 121,567 $ 94,850 $ 124,208 $ 724,208 $ 724,208
Total Liabilities $ 54,907 $ 136,567 $ 119,850 $ 154,208 $ 749,696 $ 776,203
EQUITY
Common Stock $ 30,000 $ 30,000 $ 130,000 $ 130,000 $ 130,000 $ 130,000
Retained Earnings $ 20,000 $ (3,420) $ (33,118) $ (92,905) $ (160,490) $ (96,697)
Total Equity $ 50,000 $ 26,580 $ 96,882 $ 37,095 $ (30,490) $ 33,303

Ex 2 – Income Stmt.

INCOME STATEMENT QUARTERLY ANNUAL
Westlake Sugar Bowl Sugar Bowl Sugar Bowl Sugar Bowl Westlake Sugar Bowl
Q3 2010 Q2 2011* Q3 2011 Q4 2011 Q1 2012 2010 2011
Income
Lane Rental $ 118,290 $ 106,707 $ 179,021 $ 275,400 $ 267,540 $ 398,850 $ 561,128
Food Sale $ 17,150 $ 70,392 $ 159,667 $ 448,500 $ 410,270 $ 56,920 $ 678,559
Liquor Sale $ 20,571 $ 99,460 $ 243,763 $ 559,270 $ 501,550 $ 69,890 $ 902,493
Total $ 156,011 $ 276,559 $ 582,451 $ 1,283,170 $ 1,179,360 $ 525,660 $ 2,142,180
Variable Cost of Sales
Food Purchased $ 5,145 $ 39,420 $ 110,250 $ 181,386 $ 199,336 $ 17,076 $ 331,056
Liquor Purchased $ 4,114 $ 29,838 $ 105,000 $ 249,530 $ 201,600 $ 13,978 $ 384,368
Food & Beverage Supplies $ 3,772 $ 35,953 $ 129,157 $ 114,500 $ 147,011 $ 12,681 $ 279,610
Total $ 13,031 $ 105,210 $ 344,407 $ 545,416 $ 547,946 $ 43,735 $ 995,033
General Overhead Expenses
Marketing and Advertising $ 2,820 $ 10,000 $ 15,000 $ 15,000 $ 15,000 $ 9,250 $ 40,000
Salaries: Full Time $ 29,400 $ 48,498 $ 48,498 $ 48,498 $ 48,498 $ 115,000 $ 145,494
Salaries: Part Time $ 9,240 $ 20,130 $ 18,720 $ 34,528 $ 23,900 $ 30,800 $ 73,378
Catering wage n/a $ 16,128 $ 25,920 $ 32,027 $ 25,920 $ 74,075
Coupons $ 2,339 $ 7,000 $ 9,000 $ 11,000 $ 9,000 $ 7,090 $ 27,000
Legal and Audit $ 2,112 $ 3,600 $ 3,600 $ 3,600 $ 3,600 $ 7,040 $ 10,800
License & Permits $ 440 $ 2,475 $ 2,475 $ 6,000 $ 6,000 $ 6,500 $ 10,950
Office Supplies $ 794 $ 1,950 $ 3,450 $ 5,450 $ 3,450 $ 2,740 $ 10,850
Rent $ 26,949 $ 43,000 $ 43,000 $ 43,000 $ 43,000 $ 89,830 $ 129,000
Repair & Maintenance Labor $ 13,838 $ 14,000 $ 29,550 $ 34,550 $ 29,550 $ 102,700 $ 78,100
Repair & Maintenance Supplies $ 24,855 $ 45,000 $ 49,000 $ 58,000 $ 63,000 $ 67,500 $ 152,000
Utilities $ 7,131 $ 15,000 $ 26,100 $ 24,040 $ 23,520 $ 27,560 $ 65,140
Travel & Promotion $ 263 $ 8,000 $ 3,000 $ 3,000 $ 3,000 $ – 0 $ 14,000
Insurance $ 14,700 $ 28,500 $ 28,500 $ 33,000 $ 33,000 $ 49,000 $ 90,000
Miscellaneous $ 450 $ 6,000 $ 8,500 $ 7,500 $ 9,700 $ 1,500 $ 22,000
Total General $ 135,329 $ 269,281 $ 314,313 $ 359,193 $ 340,138 $ 516,510 $ 942,787
Operating Income (Loss) $ 7,651 $ (97,932) $ (76,269) $ 378,561 $ 291,276 $ (34,585) $ 204,360
Interest payment: Bank $ 1,897 $ 8,000 $ 8,000 $ 8,000 $ 8,000 $ 16,000 $ 32,000
Interest payment: Friends & Family $ 4,000.00 $ 4,000.00 $ 4,000.00 $ 4,000.00 $ 8,000 $ 16,000
Depreciation $ 2,100 $ 3,000 $ 3,000 $ 3,000 $ 3,000 $ 9,000 $ 14,000
Tax $ 2,678 $ 132,496 $ 101,946 $ 78,566
Net Income $ 4,973 $ (112,932) $ (91,269) $ 231,065 $ 174,329 $ (67,585) $ 63,793
*Q2 2011 represents just 8 weeks of Sugar Bowl Operations. Note the facility closed for renovations in November 2010,
and reopened in early May 2011.

Ex 3 – Marketing Campaign

Summer 2011: Test Marketing Campaigns
# Potential # Actual Repeat Customers Cost Per Cost per Repeat
Channel Campaign Cost customers reached customers delivered Generated Customer Customer
Direct Email to Sugar Bowl Email List $50 400.00 30.00 16.00 $ 1.67 $ 3.13
Direct Email to Rented Target Email List $4,000 4,000.00 80.00 30.00 $ 50.00 $ 133.33
Group Buying Offer $2000 + 30% of sales 5,000.00 500.00 125.00 $ 11.50 $ 46.00
Social Media Website $0.75 per click 1,000.00 120.00 12.00 $ 6.25 $ 62.50
Keyword Search $1.10 per click 500.00 35.00 20.00 $ 15.71 $ 27.50

Ex 4-Weekly Attendance Snapshot

Weekly Attendance Snapshot *
*Does not include Private Event patronage Average $
2011 Monday Tuesday Wed. Thursday Friday Saturday Sunday Weekly Per Person
Q2 67 59 75 154 160 180 124 819 $ 35.00
Q3 67 59 75 200 215 220 172 1008 $ 40.00
Q4 75 94 190 308 350 385 299 1701 $ 50.00
2012 Monday Tuesday Wed. Thursday Friday Saturday Sunday Weekly
Q1 101 125 120 378 411 420 335 1890 $ 52.00

Ferris Hospital Financial Statements

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Ferris Hospital Financial Statements

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Ferris Hospital Financial Statements

BS

Account Name Amount Account Name Amount
Current Assets Current Liabilities
Total Current Assets Total Current Liabilities
Long-term Assets Long Term Liabilties
Total Long-term Assets Total Long Term Liabilities
Total Liabilities
Net Assets (Equity)
Total Assets Total Net Assets plus Liability

&12Ferris Hospital (000s omitted) Balance Sheet For the year ended 12/31/16

IS

Revenue
Net operating revenue
Expenses
Total operating expenses
Net Income from Operations
Other income (loss)
Interest Income
Net income(loss)

&12Ferris Hospital (000s omitted) Income Statement For the year ended 12/31/16

Cash Flows

December 31, 2014 December 31, 2013 Instructions:
Operating Net Income 12,645 Bring over from Income Statement
Reconcilliation of Net Income to Cash Flow:
Add Back: Depreciation and Amortization 7,698 Bring over from Income Statement – Depreciation Expense
(Increase)/Decrease in Accounts Receivable 10,000 There was a decrease in Accounts Receivable of 4,000
(Increase)/Decrease in Inventory (1,000) There was an increase in Inventory of 500
(Increase)/Decrease in Prepaid Expense 1,500 There was an increase in Prepaid Expense of 1,000
Increase/(Decrease) in Accounts Payable 2,000 There was a decrease in Accounts Payable of 1,500
Adjustments to Net Income 20,198 Sum all adjustments
Net Cash Flow from Operations 32,843 Subtract adjustments from Operating Net Income
Captial and Related Financing
Purchase of Capital Equipment – You purchased new computers for 10,000
Proceeds of Capital Financing – There were no proceeds from Capital Financing
Interest on Lont-term Debt (5,000) There was 4,000 paid on Interest on Long-term Debt
Principal on Long-term Debt (10,000) There was 11,000 paid on the Principle on Long-term Debt
Net Cash from Capital and Related Financing (15,000) Sum all Captial and Related Financing
Investments
Investment Income 2,000 You received 1,960 from investment income
(Purchase)/Sale of Investments – You purchased a Certificate of Deposit for 1,500
Net Cash from Investments 2,000 Sum all Investment Income
Net increase in Cash & Cash Equivalents 19,843 Add Net Cash Flow from Operations, Net Cash from Capital and Related Financing and Net Cash from Investments
Cash & Case Equivalents, Beginning of Year 5,000 Put the Cash and Cash Equvalents from 2013 in this cell
Cash & Cash Equivalents, End of Year 24,843 Sum Net increase in Cash and Cash Equvalents from 2013 and 2014

Ferris Hospital (000s omitted) Statement of Cash Flows For the year ended 12/31/16

Changes in Fund Balance

December 31, 2014 December 31, 2013
Balance First of Year 70,249 Put the number from the previous year’s balance here.
Revenue in Excess of Expenses 12,645 Bring the Net Income from the Income Statement here
Interest Income 2,000 Bring the Interest Income from the Income Statement
Balance End of Year 84,894 Sum it all up here

Ferris Hospital (000s omitted) Changes in Fund Balance For the year ended 12/31/16

Accounts

Accounts payable 763
Accounts Receivable Gross 28,406
Allowances from Accounts Receivable (4,208)
Cash and Cash Equivalents 21,709
Current portion of long term debt 3,058
Depreciation expense 7,326
Employee Benefits expense 13,290
Inpatient Services Revenue 90,085
Insurances expense 1,512
Interest Income 1,780
Inventories 2,499
Less Accumulated depreciation (43,417)
Long Term Debt, less current portion 14,798
Notes payable 1,153
Other Operating Expenses 10,533
Out Patient Services Revenue 105,258
Physician Fees expense 2,815
Plant Property& Equipment (PP&E) 126,327
Prepaid Expenditures 3,811
Repairs & Maintenance expense 3,205
Revenue Deductions (48,755)
Salaries &withholdings payable 4,164
Salary & Wage expense 71,764
Supplies expense 23,800
Utilities expense 2,256