Kingsville Extrusions and Plastics Inc.

Bank Reconcilation as at July 31, 2023

Bank Statement
Ending Balance per bank statemen $ 518,400.07
Deposit in Transit 115066.49
Outstanding Cheque 7100
Up-to-date cash balance $ 626,366.56
trusions and Plastics Inc.
lation as at July 31, 2023
Company's Books
Ending Balance per cash accoun $ 625,749.89
Interest Earned 1666.67
Bank Fee 1050
Up-to-date cash balance $ 626,366.56
 Kingsville Extrusions and Plastics Inc.
Income statement as at July 31, 2023
Revenue
Revenue $ 4,356,123.79
Other Revenue $ 99,875.15
Total Revenue $ 4,455,998.94

Cost of Goods sold

Material $ 1,393,959.89
Labour $ 1,524,643.15
Repair & Maintenance $ 152,475.19
Total Direct Cost $ 3,071,078.23

Gross Profit $ 1,384,920.71

Administrative and General

Insurance $ 61,987.68
Rent 60000
Utilities 145891
Maintenance & Supplies 21769.81
Office Supplies 13833.05
Marketing 7525.15
Automotive Expense 14759.62
Travel Expense 16801.38
Accounting & Legal Fees 25125.79
Conultant/Professional 20719.22
Benefits 102063.47
Interest and Bank Charges 85610.99
Depreciation Expense 115890.87
Total Expenses $ 691,978.03

Net Income before other Items $ 692,942.68

Interest income 1666.67
Loss on sales of capital Assets 0
Net Income Before taxes $ 694,609.35
Provision for Taxes 121287.10
Net Income $ 573,322.25
 Kingsville Extrusions and Plastics Inc.
Retained Earnings as at July 31, 2023
Retained Earnings(January 31,2023) $ 2,311,402.62
Net Income $ 573,322.25
Total Retained Earnings（July 31,2023 $ 2,884,724.87
 Kingsville Extrusions and Plastics Inc.
Balance Sheet as at July 31, 2023
Current Assets
Cash $ 626,366.56
Accounts Receivable 1534912.02
WIP 812500
Prepaid Deposits 2749.99
Total Current Assets 2976528.57

Long term Assets

Equipment 3589711.25
Depreciation-Equipment 1457861.15
Small Tools 175985.29
Computer & Software 17730.18
Office Equipment 15434.44
Total Long term Assets 2341000.01

Total Assets $ 5,317,528.58

Current Liabilities
Accounts Payable $ 798,546.01
Line of Credit 100561.32
Current portion of LT Debt 102512.39
Tax Payable 121287.1
Total Current Liabilities 1122906.82

Long Term Debt

Equipment Loan 1309596.89
Total Long Term Debt 1309596.89

Total Liabilities 2432503.71

Shareholders Equity
Common Shares 300
Retained Earnings 2884724.87
Total Shareholders Equity 2885024.87

Total Liabilities and Equity $ 5,317,528.58

 financial ratios
Jan-22 Jan-23 Jul-23

Net Profit Margin 0.08% 5% 13%

Receivable Turnover Ratio 3.66 3.93 2.84

Days to Collect(days) 99.73 92.96 64.31

Debt to Asset Ratio 0.59 0.54 0.46

Time Interest Earned Ratio(times) 0.17 12.19 8.25

os
Jan-22 Jan-23 Jul-23
(Net Profit/Total Revenue) * 100
4703 306279 573322.25
5954030 6220684 4455998.94
Net Sales / Avg Account Receivables
5778541 6054789 4356123.79
1578912 1542100 1534912.02

Total Liabilities/Total Assets

2919286 2731124 2432503.71
4924709 5042827 5317528.58
Income before Tax/Interest payable on bond and other debt
5565 358710 692942.68
46891 42750 83944.32