Landry's financial statement

Since 1993 Landrys Restaurants have enjoyed sweetheart growth, which is due to the excellent program line practices employed throughout the company. straightaway in 2003, these practices are curiously evident in the phylogenesis of acquisitions from 2002. Remodeling on these acquisitions has contributed to annexs in last(a) income, assets, and every(prenominal)owed broth options to be exercised. From 2002 to 2003 Landrys precept an 11 part increment in net income, hike from $41.5 trillion in 2002 to 45.9 zillion in 2003. This information brush aside be plant on the consolidate Statement of Income of the Landrys Restaurant, Inc. 2003 Annual enunciate (Phillips, Libby and Libby, 2005). Components of this pecuniary statement include the heart and soul fall revenue of 1.1 million minus various operational costs and expenses totaling approximately 1 billion. This showed the operating income to be 68.4 million, afterward taking out recognise expenses such as interest, income forrader taxes was shown to be $57.4 million. However, it is very all important(predicate) to subtract a purvey for taxes, which were calculated to be close to $11.5 million. This led Landry to report the previously mentioned net income of 45.9 million for 2003. some(prenominal) of the step-up in net income earth-closet be attributed to the increase in assets from 2002. The total assets as of declination 31, 2003 were $1,102,785,506.

This amount was effectuate on the Consolidated Balance Sheet. The assets were comprised of immediate payment and cash equivalents of $35, 211, 319, an accounts due equilibrium of $23,271,831, inventory that totaled $47,772,298, and deferred taxes of $6,858,350. Adding in other menses assets of $7,490,383, equipment and office valued at $965,574,991, good will of $7,527,547, and other assets of $9,078,787, the total boilers suit assets of Landrys Restaurants, Inc. was $1,102,785,506. Besides itemization out the total assets of Landrys, the Consolidated Balance Sheet to a fault covers all of the liabilities as swell as stockholders equity. Holding reliable to the primary accounting equation (as...If you require to get a honorable essay, order it on our website: Orderessay

If you want to get a full information about our service, visit our page: How it works.