ASSETS
Current Assets
Petty Cash 327.55$
Cash on Hand 1,850.45
Regular Checking Account 9,046.52
Payroll Checking Account 8,836.40
Other Current Assets 120.00
Total Current Assets 251,497.64
Property and Equipment
Furniture and Fixtures 62,769.25
Equipment 38,738.33
Vehicles 86,273.40
Bellwether Garden Supply – Student Name
Balance Sheet
March 31, 2019
5/14/2020 at 10:55 PM Unaudited – For Management Purposes Only
Total Property and Equipment 223,378.91
Other Assets
Deposits 15,000.00
Organization Costs 4,995.10
Accum Amortiz – Organiz Costs (2,000.00)
Notes Receivable- Noncurrent 5,004.90
401 K Deductions Payable 2,579.92
Health Insurance Payable (530.64)
Federal Payroll Taxes Payable 42,381.73
FUTA Tax Payable 258.20
State Payroll Taxes Payable 6,946.31
SUTA Tax Payable 658.67
5/14/2020 at 10:55 PM Unaudited – For Management Purposes Only
Total Current Liabilities 177,592.73
Long-Term Liabilities
Notes Payable-Noncurrent 4,000.00
Total Long-Term Liabilities 4,000.00
Total Liabilities 181,592.73
Capital
Common Stock 5,000.00
Paid-in Capital 100,000.00
Retained Earnings 189,037.60
Net Income 25,579.22
Total Capital 319,616.82
Total Liabilities & Capital 501,209.55$
Current
Month Year to
Date
Revenues
Sales 295.00$ 0.33 295.00$ 0.10
Sales – Aviary 7,172.71 8.07 51,697.86 18.36
Sales – Books 149.75 0.17 7,293.10 2.59
Sales – Food/Fert 1,176.86 1.32 5,374.05 1.91
Sales – Hand Tools 729.67 0.82 7,058.12 2.51
Sales – Landscape Services 17,467.43 19.65 26,975.53 9.58
Sales – Miscellaneous 0.00 0.00 45.00 0.02
Sales – Nursery 33,795.03 38.02 67,637.11 24.03
Product Cost – Aviary 2,210.60 2.49 20,954.25 7.44
Product Cost – Books 14.27 0.02 2,361.37 0.84
Product Cost – Equipment 7,482.30 8.42 24,238.80 8.61
Product Cost – Food/Fert 466.30 0.52 2,127.54 0.76
Product Cost – Hand Tools 287.15 0.32 2,813.85 1.00
Product Cost – Pots 3,148.60 3.54 3,423.60 1.22
Product Cost – Seeds 584.45 0.66 3,450.65 1.23
Bellwether Garden Supply – Student Name
Income Statement
For the Three Months Ending March 31, 2019
Current
Month Year to
Date
Materials Cost – Nursery 5,438.40 6.12 9,668.50 3.43
Subcontractors – Landscaping 335.50 0.38 335.50 0.12
Total Cost of Sales 23,527.24 26.47 78,011.48 27.71
Gross Profit 65,353.92 73.53 203,498.51 72.29
Expenses
Freight 0.00 0.00 50.00 0.02
Advertising Expense 1,325.00 1.49 1,325.00 0.47
Auto Expenses 274.56 0.31 274.56 0.10
Bad Debt Expense 1,341.09 1.51 1,341.09 0.48
Bank Charges 18.00 0.02 18.00 0.01
Depreciation Expense 2,761.30 3.11 8,394.00 2.98
Legal and Professional Expense 150.00 0.17 510.00 0.18
Licenses Expense 150.00 0.17 150.00 0.05
Total Expenses 67,877.13 76.37 177,919.29 63.20
Net Income 2,523.21)($ (2.84) 25,579.22$ 9.09
Aviary Books Equipment
Revenues
Sales 51,697.86$ 100.00 7,293.10$ 100.00 60,392.26 100.00
Total Revenues 51,697.86 100.00 7,293.10 100.00 60,392.26 100.00
Cost of Sales
Product Cost – Aviary 20,954.25 40.53 0.00 0.00 0.00 0.00
Product Cost – Books 0.00 0.00 2,361.37 32.38 0.00 0.00
Product Cost – Equipment 0.00 0.00 0.00 0.00 24,238.80 40.14
Total Cost of Sales 20,954.25 40.53 2,361.37 32.38 24,238.80 40.14
Gross Profit 30,743.61 59.47 4,931.73 67.62 36,153.46 59.86
Bellwether Garden Supply – Student Name
Departmental Gross Profit Totals
Year To Date Totals For the Month Ending March 31, 2019
Current
Month Year to
Date
Cash Flows from operating activities
Net Income 2,523.21)($ 25,579.22$
Adjustments to reconcile net
income to net cash provided
by operating activities
Accum. Depreciation-Furniture 420.80 1,262.40
Accum. Depreciation-Equipment 385.05 1,265.25
Accum. Depreciation-Vehicles 1,437.89 4,313.67
Accum. Depreciation-Other 64.57 193.71
State Payroll Taxes Payable 2,138.64 5,960.98
Other Taxes Payable 50.00 50.00
Other Current Liabilities 150.00 150.00
Total Adjustments 37,459.78 (20,861.85)
Bellwether Garden Supply – Student Name
Statement of Cash Flow
For the three Months Ended March 31, 2019
Current
Month Year to
Date
Net cash used in investing 0.00 0.00
Cash Flows from financing activities
Proceeds From
Used For
Net cash used in financing 0.00 0.00
Net increase <decrease> in cash 34,936.57$ 4,717.37$
Summary
Cash Balance at End of Period 32,060.92$ 32,060.92$
Cash Balance at Beg of Period 2,875.54 (27,343.66)
Net Increase <Decrease> in Cash 34,936.46$ 4,717.26$
Beginning Retained Earnings 189,037.60$
Adjustments To Date 0.00
Net Income 25,579.22
Subtotal 214,616.82
Ending Retained Earnings 214,616.82$
Bellwether Garden Supply – Student Name
Statement of Retained Earnings
For the Three Months Ending March 31, 2019
5/14/2020 at 10:55 PM Page: 9For Management Purposes Only
Current
Month Year To
Date
Sources of Working Capital
Net Income 2,523.21)($ 25,579.22$
Add back items not requiring
working capital
Accum. Depreciation-Furniture 420.76 1,262.36
Accum. Depreciation-Equipment 384.99 1,265.19
Accum. Depreciation-Vehicles 1,437.89 4,313.67
Accum. Depreciation-Other 64.57 193.71
Accum. Depreciation-Buildings 396.36 1,189.10
Accum. Depreciation-Bldg Imp 56.63 169.87
Working capital from operations 237.99 33,973.12
Other sources
Total sources 237.99 33,973.12
Bellwether Garden Supply – Student Name
Statement of Changes in Financial Position
For the three months ended March 31, 2019
5/14/2020 at 10:55 PM Page: 10For Management Purposes Only
Current
Month Year To
Date
Other Receivables 0.00 3,672.24
Inventory (13,650.37) (6,211.73)
<Increase> Decrease in Current Liabilities
Accounts Payable (10,497.38) (76,949.26)
Sales Tax Payable (4,386.16) (15,622.98)
401 K Deductions Payable (825.32) (2,135.22)
Health Insurance Payable 530.64 530.64
Federal Payroll Taxes Payable (14,617.04) (40,794.88)
State Payroll Taxes Payable (2,138.64) (5,960.98)
Other Taxes Payable (50.00) (50.00)
Other Current Liabilities (150.00) (150.00)
Net change 237.99$ 33,973.12$