Landry's financial statement

Since 1993 Landrys Restaurants have enjoyed steady growth, which is due to the excellent manner practices employed throughout the company. Now in 2003, these practices are peculiarly evident in the development of acquisitions from 2002. Remodeling on these acquisitions has contributed to annexs in last(a) income, assets, and all in allowed line of merchandise options to be exercised. From 2002 to 2003 Landrys saw an 11 part ontogeny in net income, rising from $41.5 jillion in 2002 to 45.9 trillion in 2003. This information can be plant on the consolidated Statement of Income of the Landrys Restaurant, Inc. 2003 Annual enunciate (Phillips, Libby and Libby, 2005). Components of this fiscal statement include the sum fall revenue of 1.1 million minus various operating costs and expenses totaling approximately 1 billion. This showed the operating income to be 68.4 million, after taking out start expenses such as interest, income before taxes was shown to be $57.4 mill ion. However, it is very all important(predicate) to subtract a provision for taxes, which were calculated to be evenhandedly $11.5 million. This led Landry to report the previously mentioned net income of 45.9 million for 2003. some(prenominal) of the plus in net income can be attributed to the increase in assets from 2002. The total assets as of December 31, 2003 were $1,102,785,506.

This amount was effectuate on the Consolidated Balance Sheet. The assets were comprised of cash and cash equivalents of $35, 211, 319, an accounts due match of $23,271,831, inventory that totaled $47,772,298, and deferred taxe s of $6,858,350. Adding in other menses ass! ets of $7,490,383, equipment and topographic point valued at $965,574,991, goodwill of $7,527,547, and other assets of $9,078,787, the total general assets of Landrys Restaurants, Inc. was $1,102,785,506. Besides listing out the total assets of Landrys, the Consolidated Balance Sheet also covers all of the liabilities as hale as stockholders equity. Holding reliable to the basic accounting equation (as...If you want to get a full essay, order it on our website: BestEssayCheap.com

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