Financial Statements

Financial Statements

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Phone:?+1 220-201-9381

Address:?341 S 3rd St #100-254 Columbus, OH 43215

Financial Statements Bookkeeping and Reporting (unaudited, unattested)

We Analyze Your Business Based On Average Industry Reports and Based On Your Reports

Understanding the client’s industry and business is one of the keys to the analysis.

Finding industry average gross profit margin and checking that the company’s Sales and COGS matches average gross profit in the industry is only the beginning of analyzing. We check if sales are recorded in the proper period, calculations are correct and there are no overstated/understated sales or COGS.

Prior and current year comparison is another step in the analysis. Current ratios, for example, can not be outrageously different in a normal course of business. Are the liabilities understated or overstated? Does the interest expense match the total debt of the company?

We are not auditors, nor CPAs. We will not compile, review, or audit your financial statement. “Tax Bookkeeping Payroll, limited liability company” will simply analyze your financial statements by vouching, tracing, comparing, and confirming based on your permissions of what you will allow us to analyze.

Does Your Company Income Statement Look Like Thi$?

Condensed Multi-Step Income Statement
For the Year Ended December 31, Year 3
Sales: $634,000
Sales Discounts (57,700)
Sales Allowances ? (63,500)
Net Sales 512800
Cost of Goods Sold (310,570)
Gross Profit 202230
Operating Expenses:
Depreciation (15,700)
Repairs 0
Supplies (36,090)
Advertising (15,900)
Freight-Out (9,020)
Utilities (19,090)
Dividends ? ? ? ? ? ?0
Income from Continuing Operations 106430
Other Gains and Losses:
Loss on Sale of Equipment (1,000)
Gain on Sale of Securities 9,070
Unrealized Gain on Available-for-Sale Securities ? ? ? ? ? 0
Income from Continuing Operations Before Income Tax 114500
Income Taxes ?(34350)
Income Before Discontinued Operations 80150
Loss from Discontinued Operations:
Discontinued Operations (59020)
Less: Income Tax Benefit ? ?17706
Net Income (Loss) ? ?38,836
Earnings per Common Share (rounded) $0.57

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