Alex Rios
ACC300/Principles of Accounting
June 22, 20009
Examining Financial Statements
Financial statements are necessary in fix up for a business to show where its bullion came from, where the money went, and where the money is now (Securities and Exchange Commission, 2009.) Landrys Restaurant has engage A-Team Analysts Service to examine the financial statements of the business for 2003. The CEO of Landrys wants the A-Team to analyze the financial statements to ensure it shows the public and stockholders an accurate financial picture of the company. The A-Team pass on examine all of the financial statements and argue Landrys income, assets, property additions and stock options. Finally, A-Team Analysts will discuss which single(a) income statement is the most important for the business.
Landrys Net Income
In order to find the reported exculpate income, A-Team had to look at Landrys income statement (Phillips, Libby and Libby, 2006). The income statement shows how much money is do and spent over a period of time. The income statement will list all revenues and subtract the operating expenses. The buck nub of the revenues minus the operating expenses represents operating income.
The operating income is then subtracted by other expenses not related to operations and an income tax allowance. The dollar figure after the computations listed will reflect the companys net income. A-Team reviewed the income statement, and determined that the statement did show an accurate net income amount of $45,901,054 for the period of year ending December 31, 2003.
Landrys Total Assets
According to Landrys Consolidated Balance 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 balance sheet include liabilities and stockholders equity as intumesce as commitments and...If you want to get a full essay, order it on our website: Orderessay
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