Income statement for BreatheScreen Inc.
(01Jan'13 to 31dec'13)
Revenue:
Product sale:
Cash $ 13,400,000
Account Receivable $ 9,600,000
$ 23,000,000
Other Revenue:
Interest on cash $ 200,000
Total Revenue: $ 23,200,000
Net Income before Tax: -$ 650,000
for BreatheScreen Inc. (01Jan'13 to 31dec'13)
Expenses:
Modification cost to sensing chip: $ 2,000,000
Depreciation:
Production Machinery (5 Years for 1year) $ 3,000,000
Salary & Wages
Jan-June $ 400,000
Jul-Dec $ 3,300,000
$ 3,700,000
Interest on loan: @10% for 6months $ 300,000
Fire insurance: $ 2,000,000
Advertising: $ 2,000,000
License Cost: (1Year for 11months) $ 2,750,000
Raw materials: Purchase:Liability $ 3,000,000
Purchase $ 6,000,000
Closing Inventory $ 900,000
$ 8,100,000
Total Expenses: $ 23,850,000
Balance Sheet as on 1Apr'13
Liabilities and Equity Assets Date
Common Shares $ 34,000,000 Cash $ 19,600,000 2-Jan
Additional Equity $ 6,000,000 Trademark $ 6,000,000 5-Jan
Loan $ 6,000,000 Machinery with depriciation $ 12,000,000 10-Jan
Trade Payable $ 3,000,000 Closing Inventory $ 900,000 10-Jan
Retained Earnings -$ 650,000 Account Receivable $ 9,600,000 Feb
License (one month) $ 250,000 23-Feb
Total Liabilities and Equity $ 48,350,000 Total Assets $ 48,350,000 Jun
1-Jul
Dec
31-Dec
Cash in hand
Desc In Out
17,000,000 common shares @ $2 each $ 34,000,000
Licensing agreement $ 3,000,000
New Machinery $ 13,500,000
Installation $ 1,500,000
Sensing chip modification $ 2,000,000
Raw materials $ 6,000,000
Salary $ 400,000
Loan $ 6,000,000
Fire Insurance $ 2,000,000
Salary $ 3,300,000
Advertisement $ 2,000,000
Product sales $ 13,400,000
Interest Paid $ 300,000
Interest received $ 200,000
Total $ 53,600,000 $ 34,000,000
Cash in hand $ 19,600,000
