Jenga Inc Exercise Strictly Confidential

Table of Contents
#VALUE!

Notes
This Excel model is for educational purposes only and should not be used for any other reason.
All content is Copyright material of CFI Education Inc.
https://corporatefinanceinstitute.com/

© 2019 CFI Education Inc.

All rights reserved.  The contents of this publication, including but not limited to all written material, content layout, images, formulas, and code, are protected under international copyright and trademark laws.  
No part of this publication may be modified, manipulated, reproduced, distributed, or transmitted in any form by any means, including photocopying, recording, or other electronic or mechanical methods,
© Corporate Finance Institute. All rights reserved. 
Jenga Inc Exercise Year 1 Year 2
Jenga Inc engages in the following transactions:

Issues common shares 1,000

Borrows 400
Repays loan 100
Pays interest 24 18

Buys property and plant (estimated useful life is 10 years) 900

Buys inventory 350 400

Cash paid for inventory 320 380

Sells inventory 510 550

Cash received from sales 430 480

Inventory left at year end 60 80

Pays expenses 40 50
Pays tax at 30%
Pays a dividend 30 5

Requirements:

1. Produce a balance sheet and income statement for Jenga Inc for Years 1 and 2.

2. Produce the financial statements for Year 2.

Income Statement
Revenues
Cost of sales
Gross profit - -

Expenses
Depreciation
Operating profit (EBIT) - -

Finance costs
Profit before taxes - -

Tax at 30%
Net income - -
Dividend
Retained earnings - -

Balance Sheet
Assets
Current assets:

Total current assets - -

Non-current assets

Total assets - -

Liabilities and shareholders' equity

Current liabilities:

Non-current liabilities:

Shareholder's equity:

Total liabilities and shareholders' equity - -

Balance Sheet Check 0.0 0.0