techinnovator.txt

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Tech Innovators Corp. 
Financial Statements for the Years Ended December 31, 2022 and 2021 
(All amounts in USD) 
 
Balance Sheet 
Assets  2022  2021 
   
Current Assets 
Cash & Equivalents  $15,000,000  $12,000,000 
Accounts Receivable  $10,000,000  $8,500,000 
Inventory  $5,000,000  $4,200,000 
Total Current Assets  $30,000,000  $24,700,000 
   
Non-Current Assets 
Property, Plant & Equipment  $25,000,000  $22,000,000 
Long-term Investments  $8,000,000  $6,500,000 
Total Non-Current Assets  $33,000,000  $28,500,000 
Total Assets  $63,000,000  $53,200,000 
Liabilities & Equity  2022  2021 
   
Current Liabilities 
Accounts Payable  $12,000,000  $10,500,000 
Short-term Debt  $5,000,000  $4,000,000 
Total Current Liabilities  $17,000,000  $14,500,000 
   
Non-Current Liabilities 
Long-term Debt  $20,000,000  $18,000,000 
Total Liabilities  $37,000,000  $32,500,000 
   
Equity 
Common Stock  $20,000,000  $18,000,000 
Retained Earnings  $6,000,000  $2,700,000 
Total Equity  $26,000,000  $20,700,000 
Total Liabilities & Equity  $63,000,000  $53,200,000 
 
 
 
 
 
 Income Statement 
Particulars  2022  2021 
Sales Revenue  $120,000,000  $105,000,000 
Cost of Goods Sold  ($70,000,000)  ($60,000,000) 
Gross Profit  $50,000,000  $45,000,000 
   
Operating Expenses 
Research & Development  ($10,000,000)  ($8,500,000) 
Marketing  ($8,000,000)  ($7,000,000) 
Administrative Costs  ($5,000,000)  ($4,500,000) 
Total Operating Expenses  ($23,000,000)  ($20,000,000) 
Operating Income  $27,000,000  $25,000,000 
Interest Expense  ($2,000,000)  ($1,800,000) 
Income Before Tax  $25,000,000  $23,200,000 
Tax Expense (20%)  ($5,000,000)  ($4,640,000) 
Net Income  $20,000,000  $18,560,000 
 
 
Cash Flow Statement 
Particulars  2022  2021 
Net Cash from Operations  $28,000,000  $24,500,000 
Net Cash from Investing  ($10,000,000)  ($8,000,000) 
Net Cash from Financing  ($5,000,000)  ($3,000,000) 
Net Change in Cash  $13,000,000  $13,500,000