Chemalite Inc

Income Statement - 1H03

A B
1 Chemalite, Inc.
2 Income Statement from January 1, 2003 to June 30, 2003
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4 Sales $0
5 Cost of Sales $0
6 Gross Profit $0
7 Depreciation Expenses $0
8 Operating Expense ($7,500)
9 Net Income ($7,500)
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Cash Flows - 1H03

A B
1 Chemalite, Inc.
2 Cash Flows Statement from January 1, 2003 to June 30, 2003
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4 Cash flows from Operating Activities
5 Cash collections $0
6 Cash payments for purchases ($75,000)
7 Cash payments for operating expenses ($7,500)
8 Interest and taxes $0
9 Total cash payments ($82,500)
10 Net cash provided by operating activities ($82,500)
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12 Cash flows from Investing
13 Purchase of hard assets (machinery) ($62,500)
14 Total Cash flows from investing ($62,500)
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16 Cash flows from Financing
17 Sale of stock $375,000
18 Total cash flow from financing $375,000
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20 Cash Summary
21 Cash on January 1, 2003 $375,000
22 Net Change in Cash ($145,000)
23 Cash on June 30, 2003 $230,000
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Balance Sheet - 1H03

A B
1 Chemalite, Inc.
2 Balance Sheet for June 30, 2003
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4 Assets
5 Current Assets
6 Cash $230,000
7 Accounts Receivable $0
8 Inventory $75,000
9 Total current assets $305,000
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11 Fixed Assets
12 Equipment $62,500
13 Patent $125,000
14 Total fixed assets $187,500
15 Intangible assets $0
16 Total assets $492,500
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18 Liabilities and Shareholders Equity
19 Liabilities
20 Current Liabilities
21 Accounts payable $0
22 Taxes payable $0
23 Total Current Liabilities $0
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25 Long-term liabilities
26 Long-term loans $0
27 Total liabilities $0
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29 Shareholders' Equity
30 Common Stock $500,000
31 Retained Earnings ($7,500)
32 Total shareholders' equity $492,500
33 Total liabilities and shareholders' equity $492,500
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Income Statement - 2003

A B
1 Chemalite, Inc.
2 Income Statement for the year ending Deceber 31, 2003
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