Sample Financial Statements Income Statement

(Format does not apply to all bidders)

[Legal Business Name] [Reporting Period] Important Information Revenue to include:

Gross sales • Legal business name Less sales returns and allowances • Reporting period Net sales • Revenues • Cost of goods sold, Cost of Sales if applicable Beginning inventory • Depreciation, Plus goods purchased/manufactured if applicable Total goods available • Amortization, Less ending inventory if applicable Total cost of goods sold Gross profit (loss) • Expenses by category such as salary, utilities, Operating Expenses rent, etc. Selling • Net income (loss) Salaries and wages Commissions Advertising Depreciation Total selling expenses General/Administrative Salaries and wages Employee benefits Payroll taxes Insurance Rent Utilities Depreciation Amortization Office supplies Travel and entertainment Postage Equipment maintenance and rental Interest Furniture and equipment Total general/administrative expenses Total operating expenses Net income before taxes Taxes on income Net Income (Loss)

Sample Financial Statements Round 2021

Balance Sheet

Important information [Legal Business Name] [Reporting Period] to include: ASSETS LIABILITIES Current Assets Current Liabilities Legal business name Cash Accounts payable Reporting period Accounts receivable Short-term notes Current assets, (less doubtful accounts) Current portion of long-term notes if applicable Inventory Interest payable Total assets

Temporary investment Taxes payable Current liabilities, if applicable Prepaid expenses Accrued payroll Total liabilities Total Current Assets Total Current Liabilities Equity

Long-Term Liabilities

Long-Term Assets Mortgage

Long-term investments Other long-term liabilities

Land Total Long-Term Liabilities Buildings (less accumulated depreciation) TOTAL LIABILITIES

Plant and equipment

Less accumulated depreciation Equity

Furniture and fixtures Capital stock

(less accumulated depreciation) Retained earnings

Total Long-Term Assets Total Equity

Total Assets TOTAL LIABILITIES & EQUITY TOTAL ASSETS should equal Total Liabilities & Equity

Statement of Cash Flows (Direct Method)

[Legal Business Name] [Reporting Period] Cash flows from operating activities Cash received from customers Important Information Cash paid for merchandise to Include Cash paid for wages and other operating expenses Legal business name Cash paid for interest Reporting period Cash paid for taxes Operating activities Other Investing activities, if Net cash provided (used) by operating activities applicable Cash flows from investing activities Financing activities, Cash received from sale of capital assets: plant and equipment, etc. if applicable Cash received from disposition of business segments Increase (decrease) in Cash received from collection of notes receivable cash Beginning cash Cash paid for purchase of capital assets: plant and equipment, etc. balance Cash paid to acquire businesses Ending cash balance Other Net cash provided (used) by investing activities Cash flows from financing activities Cash received from issuing stock Cash received from credit/debt borrowings Cash paid to repurchase stock Cash paid to retire debt Cash paid for dividends Other Net cash provided (used) in financing activities

Increase (decrease) in cash during the reporting period

Cash balance at the beginning of the reporting period

Cash balance at the end of the reporting period

• Increase (decrease) in cash during the • The cash balance at the end of the reporting period should match the cash reporting period should equal the sum of the on the balance sheet. three cash flow activities (operating, investing, and financing.)

• A cash reconciliation should be included. Increase (decrease) in cash during the reporting period plus the cash balance at the beginning of the reporting period should equal the cash balance at the end of the reporting period.

Sample Financial Statements Round 2021

Statement of Cash Flows (Indirect Method)

[Legal Business Name] [Reporting Period] Cash flows from operating activities Important Information to Net Income (Loss) Include Legal business name Non-cash expenses: depreciation, amortization, etc. Reporting period Non-operating (gain) loss: sale of non-current assets, investments, etc. Net income (loss) (Increase) decrease in current assets: accounts receivable, prepaid expenses, Operating activities inventory, etc. Investing activities, if Increase (decrease) in current liabilities: accounts payable, accrued liabilities, etc. applicable Net cash provided (used) by operating activities Financing activities, if Cash flows from investing activities applicable Cash received from sale of capital assets: plant and equipment, etc. Increase (decrease) in Cash received from disposition of business segments cash Cash received from collection of notes receivable Beginning cash Cash paid for purchase of capital assets: plant and equipment, etc. balance Cash paid to acquire businesses Ending cash balance Other

Net cash provided (used) by investing activities

Cash flows from financing activities Cash received from issuing stock Cash received from credit/debt borrowings Cash paid to repurchase stock

Cash paid to retire debt

Cash paid for dividends Other

Net cash provided (used) in financing activities

Increase (decrease) in cash during the reporting period

Cash balance at the beginning of the reporting period

Cash balance at the end of the reporting period

The net income on the statement of cash flows Increase (decrease) in cash during the should match the net income on the income reporting period should equal the sum of statement. the three cash flow activities (operating, investing, and financing). The cash balance at the end of the reporting period should match the cash on the balance A cash reconciliation should be included. sheet. Increase (decrease) in cash during the reporting period plus the cash balance at the beginning of the reporting period should equal the cash balance at the end of the reporting period.

Sample Financial Statements Round 2021