The following information is available for Skate and Boards Rental Company.
Using the above information prepare an income statement, statement of retained earnings and statement of cash flows for the Skate and Boards Rental for 2014. Also, prepare its balance sheet as of December 31, 2014. Assume that the 12/31/13 cash balance is $70,000.
Definitions:
Industries and Markets
Sectors of the economy and the competitive environments in which businesses operate.
Restructuring Strategy
A corporate management term referring to the act of reorganizing the legal, ownership, operational, or other structures of a company for the purpose of making it more profitable or better organized for its present needs.
Retrenchment
A corporate strategy that involves reducing the size or scope of a company's operations, often through layoffs or the sale of assets, as a way to become more financially stable.
Scale and Mix of Operations
Refers to the size, scope, and combination of processes or activities carried out within an organization to produce goods or deliver services.
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