Clemalite

In: Business and Management

Submitted By grkath
Words 1290
Pages 6
Case Study

Clematile, Inc
Abstract: This Paper contains the information about Clematile, Inc, the balance Sheet for the company as of December 31, 2003 and notes. In Appendix you will find the transactions summary(period from January 2, 2003 till December 31, 2003) and the explanations for the final balance sheet. Content: 1. Company Information 2. Balance Sheet (June 2003) 3. Income Statement 4. Balance Sheet (December 2003) 5. Cash Flow (Indirect) 6. Notes 7. Appendix.

Company information
History: On January 2, 2003, Bennet Alexander, together with a number of relatives and friends, established Chemalite, Inc. Pririor to this, in late 2002, Alexander received a patent for Clemalite. Product: Chemalite is small, fragile glass vial of one chemical was inserted into a plastic, translucent cylinder that was then filled with a second chemical and sealed. Bending the cylinder caused the glass vial inside to break, allowing the two chemicals to mix. When combined, the two chemicals gave off a bright yellowgreen glow. Product applications: Chemalite had the appeal of being readily available in case of emergencies, but yet it did not require any form of ignition. He anticipated a considerable demand from the armed forces and manufacturers of flares and similar safety equipment.

Clemalite, Inc.

Balance Sheet
June, 2003
Assets: Current Assets: Cash Inventory (raw inventory) Total Current Assets: Property, plant, and equipment: Equipment Total Property, Plant and Equipment Intangibles: Patent Total Intangibles: Total Assets: Liabilities and Shareholders' Equity Liabilities: Total Liabilities: Shareholders' Equity: Common Stock Retained Earnings Total Shareholders' Equity Total Liabilities and Shareholders' equity

$230,000 $ 75,000 $305,000 $62,500 $62,500 $125,000 $125,000 $492,500

$0 $0 $500,000 $(7,500) $492,500 $492,500

Clemalite, Inc.

Income Statement
For the…...

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