Landry's financial statement

Since 1993 Landrys Restaurants have enjoyed steady growth, which is due to the excellent counselor practices employed throughout the company. Now in 2003, these practices are inquisitively evident in the development of acquisitions from 2002. Remodeling on these acquisitions has contributed to annexs in last(a) income, assets, and wholeowed broth options to be exercised. From 2002 to 2003 Landrys saw an 11 part change magnitude in net income, rising from $41.5 meg in 2002 to 45.9 one thousand thousand 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 pecuniary 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 divorce expenses such as interest, income before taxes was shown to be $ 57.4 million. However, it is very all important(predicate) to subtract a provision for taxes, which were calculated to be fair $11.5 million. This led Landry to report the previously mentioned net income of 45.9 million for 2003. some(prenominal) of the maturation 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 remnant 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 property valued at $965,574,991, goodwill 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 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 canonical accounting equation (as...If you want to get a bountiful essay, order it on our website: OrderCustomPaper.com

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