Financial Statements

Examining monetary Statements Alex Rios ACC300/Principles of Accounting June 22, 20009 Examining Financial Statements Financial avowals are necessary in fix up for a business to show where its capital came from, where the capital went, and where the money is promptly (Securities and Exchange Commission, 2009.) Landrys eating house has engage A-Team Analysts Service to read the monetary parameters of the business for 2003. The chief operating(a) officer of Landrys demands the A-Team to analyze the financial statements to ensure it shows the public and shareholders an absolute financial picture of the companionship. The A-Team obviate on examine completely of the financial statements and argue Landrys income, assets, property additions and stock options. Fin bothy, A-Team Analysts leave discuss which single(a) income statement is the or so important for the business. Landrys net income Income In order to let the reported exculpate income, A-Team had to numerate at Landrys income statement (Phillips, Libby and Libby, 2006). The income statement shows how much money is do and spent everywhere a finish of time. The income statement will list all revenues and subtract the operating expenses. The bear down nub of the revenues minus the operating expenses represents operating income.

The operating income is indeed subtracted by other expenses non related to operations and an income levy allowance. The dollar figure after(prenominal) the computations listed will reflect the companys net income. A-Team reviewed the income statement, and stubborn that the statement did show an stainless net income amount of $45,901,054 for the period of year ending declination 31, 2003. Landrys Total Assets harmonise to Landrys Consolidated relaxation winding-clothes found in Phillips, Libby and Libby, 2006, the total assets for Landrys Restaurants in 2003 is $1,102,785,506. The residue sheet also shows total assets for 2002, which were $933,015,079. Other components of the relief sheet include liabilities and stockholders equity as intumesce as commitments and...If you want to get a adequate essay, order it on our website: Orderessay

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