Examining Financial Statements

A financial statement or a written report depicts the financial health of a company and/or andJ.L. individual which is usually comprised of several key components. Some of the components are an income statement, a balance sheet, and a cash flow statement. Usually a financial statement is comprised on an annual basis or on a quarterly basis, as this timeframe allows for the comparison of current information versus prior information. In this paper, we will highlight some financial information regarding Landry's Restaurants. We will be comparing the performances of years 2001 through 2003 years ending December 31. The source for information is obtained from Landry's Restaurant's Summarized Balanced Sheets, Income Statements, and Statements of Cash Flows all of which are comparing years 2001, 2002, and 2003.

The amount of the net income for year 2001 was $26,920J.L., 2002 was $41,522, and 2003 was $45,901. This information was found in the reading under Exhibit 13.3

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which is labeled Landry's Restaurants Income Statement on page 577 Chapter 13. The components of this financial statement is comprised of the following: revenues, cost of revenues, gross profits, operating and other expenses, interest expense, and income tax expense. The total asset for Landry's Restaurants for year 2001 was $690,171, 2002 was $933, 015 and 2003 was $1,102,785. (Arthur, W. 2004) This information was also found in the weekly reading under Exhibit 13.2 page 576 labeled Landry's Restaurants balance sheets. The components of this statement are comprised of the following: cash, accounts receivables, inventories, other current assets, total current assets, property and equipment, lastly goodwill and other assetsJ.L..

Landry's Restaurant spent a net of $965,574,991 in 2003 on property and equipment additions. The Property and equipment additions J.L.information can be found on the Notes to Consolidated Financial Statements on page 14...