Embed Size (px)
Citation preview
Dec 31, 10 Dec 31, 09
ASSETS
Current Assets
Total Checking/Savings 365,639 113,566
Total Accounts Receivable 188,031 349,108
Total Other Current Assets 388,522 124,409
Total Current Assets 942,191 587,084
Fixed Assets
17000 · Fixed Assets
17100 · Computer Equipment 421,294 355,284
17150 · Equipment 11,501 7,769
17300 · Software 86,620 64,643
17500 · Furniture and Fixtures 134,926 123,676
18000 · Accumulated Depreciation (531,341) (478,421)
Total 17000 · Fixed Assets 123,000 72,951
TOTAL ASSETS 1,065,191 663,589
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Total Accounts Payable 10,693 65,733
Other Current Liabilities
Total 21000 · Payroll Liabilities 49,189 107,955
Total 22000 · Other Current Liabilities 118,876 265,308
Total 23000 · Deferred Revenue 4,468,831 4,245,236
Total Other Current Liabilities 4,636,896 4,618,499
Total Current Liabilities 4,647,589 4,684,232
Long Term Liabilities
Total 24000 · Notes Payable - 24,000
24900 · Subordinated Debts 1,010,000 1,010,000
26400 · Membership Revenue - LT 440,707 375,146
Total Long Term Liabilities 1,450,707 1,409,146
Total Liabilities 6,098,295 6,093,378
Equity
32000 · Capital Stock
32050 · Preferred Stock 1 1
32100 · Class A 1,180 1,180
32200 · Class B 1,799 721
Total 32000 · Capital Stock 2,980 1,902
33000 · APIC 163,574 163,574
39000 · Retained Earnings (5,595,265) (5,804,709)
Net Income 395,607 209,444
Total Equity (5,033,104) (5,429,789)
TOTAL LIABILITIES & EQUITY 1,065,191 663,589
Strategic Forecasting, Inc.
Balance Sheet
As of December 31, 2010 and 2009
(Unaudited)
Page 1 of 3
Jan - Dec 10 Jan - Dec 09
Ordinary Income/Expense
Total Income 10,579,474 9,134,531
Total COGS 582,291 406,518
Gross Profit 9,997,184 8,728,013
Expense
Total 60000 · Salaries and Benefits 7,688,765 6,834,670
Total 61000 · Recruiting 57,751 41,722
Total 62000 · Contract Labor 263,235 273,751
Total 63000 · Travel and Entertainment 288,059 307,600
Total 64000 · Facilities 881,018 686,088
Total 66000 · Equipment Expense 102,061 87,691
Total 67000 · Marketing 77,884 44,429
Total 76000 · Other Operating Expenses 198,710 187,850
Total Expense 9,557,483 8,463,800
Net Ordinary Income 439,701 264,213
Other Income/Expense
Total Other Income 19,469 6,547
Total Other Expense 63,563 61,315
Net Other Income (44,094) (54,769)
Net Income 395,607 209,444
Strategic Forecasting, Inc.
Income Statement
For the Years Ended December 31, 2010 and 2009
(Unaudited)
Page 2 of 3
Jan - Dec 10 Jan - Dec 09
OPERATING ACTIVITIES
Net Income 395,607 209,444
Adjustments to reconcile Net Income
to net cash provided by operations:
Depreciation Expense 52,920 43,519
Change in Working Capital
Accounts Receivable 161,078 (183,476)
Other Current Assets (264,113) (35,501)
Other Assets 3,555 (1,475)
Accounts Payable (55,041) 47,636
Other Current Liabilities 13,489 (72,577)
Deferred Revenue-LT 65,561 (505,082)
Deferred Revenue-ST 223,595 521,075
Net cash provided by Operating Activities 596,651 23,563
INVESTING ACTIVITIES
Purchases of Fixed Assets (102,970) (55,869)
Net cash provided by Investing Activities (102,970) (55,869)
FINANCING ACTIVITIES
Principle payments on debt (242,686) (262,847)
Issuance of Capitl Stock - Class A 29
Issuance of Capital Stock - Class B 1,078 621
Net cash provided by Financing Activities (241,609) (262,197)
Net cash increase for period 252,072 (294,504)
Cash at beginning of period 113,566 408,070
Cash at end of period 365,639 113,566
Strategic Forecasting, Inc.
Statement of Cash Flows
For the Years Ended December 31, 2010 and 2009
(Unaudited)
Page 3 of 3
