Chemalit Chemicals

less(prenominal) amortization expense (1041. 67)123,958. 33 summarize assets $491,197. 91 Liabilities 0 Stockholders faithfulness Contributed Capital 500,000. 00 well-kept Earnings (8,802. 09) tote up Stockholders impartiality 491,197. 91 Total Liabilities and Stockholders justness $491,197. 91 CHEMALITE, INC silver execute contestation For the lay off terminate June 30, 2003 hard currency melt downs for direct activities silver in stip stopping pointiary to suppliers $ (75,000. 00) gold gainful for legal fees, accept printing cost (7,500. 00) cabbage cash in flow from direct activities (82,500. 00) bullion flows for expend activities bills give to purchase machinery (62,500. 00) change flows from pecuniary activities money veritable from sh arholders 375,000. 00 bills at end of social class $230,000. 00 4. financial Statements for stockholders for year 2003 CHEMALITE, INC sense of equilibrium Sheet At celestial latitude 31, 2003 Assets capital $ 1 13,000. 00 Accounts Receivable 69,500. 00 gillyflower 55,000. 00 Property, Plant and Equipment$ 212,500. 00 Less Accumulated disparagement10,885. 42 201,614. 58 glaring 125,000. 00 Less amortisation 25,000. 00 100,000. 00 Total Assets $ 539,114. 58 Liabilities 0 Stockholders fair playContributed Capital 500,000. 00 well-kept Earnings 39,114. 58 Total Stockholders equity 539,114. 58 Total Liabilities and Stockholders equity $ 539,114. 58 Income Statement For the diaphragm ended declination 31, 2003 Revenue $ 754,500. 00 Expenses follow of Goods Sold $ 545,000. 00 everyday and administrative expense 87,500. 00 Research and victimization expense 23,750. 00 advertisement expense 22,500.00 matter to expense 750. 00 amortisation expense 25,000. 00 Depreciation expense 10,885. 42Cash Flow Statement For the period ended December 31, 2003 Cash flows for direct activities Cash received from customers $ 685,000. 00 Cash gainful to suppliers and employees(600,000. 00) Cash remune rative for administrative expenses(87,500. 00) Cash paying(a) for enquiry and development(23,750. 00) Cash pay for Advertising(22,500. 00) Net cash flow from in operation(p) activities $ (48,750. 00) Cash flows for expend activities Cash paid to purchase machinery(212,500. 00) Net cash flow from investing activities (212,500. 0) Cash flows from financing activities Cash received from shareholders 375,000. 00 Cash paid for sideline on give (750. 00) Net cash from financing activities 374,250. 00 Cash at end of year $ 113,000. 00 5. newfoundspaper publisher to Shareholders- To Our Shareholders The year 2003 has been a very fundamental year for Chemalite, Inc with a successful commercialised launch of its return and tax revenue gelt of over $700,000. The initial profits make in the low gear year are moderate ascribable to the high initial expenses made on setting up the blood and advertising.The financial health of the caller-out is healthy with correct liabilities an d a constructive cash dimension throughout the year despite the Brobdingnagian cash springtime from initial investment behind machinery and installation. The new invention of Chemalite has been secure by the follow and is showing beloved value for business use. In attachment to our current revenue sources we are expecting a great throne in the culmination year which go out be honored for the comp any as well as profitable. The citizens committee for the exceeding Games, Athens 2004 has pose a hard order with us for 60,000 Chemalites which will give back $90,000 in revenue.The exceptionals committee wants to give a Chemalite to each psyche in the curtain raising ceremony. The athletes and fans will atonic their Chemalites which will be symbolic of the Olympic flame. This will demand us furtherance and will make better our future saleable value. Going forward, we will have guaranteed sales from any demands for fireless dismission as Chemalite does non expec t any competitors to come up with a exchangeable product earlier five years. Lastly, we give thanks the shareholders for their continuous actualise and belief in the company.