Financial Statements of Landry's RestaurantACC300: Principles of Accounting Landry's Seafood Restaurant is the second largest seafood restaurant in the United States. The company started in 1980 with the original Landry's Seafood Restaurant located in Katy, Texas. Landry's restaurant started off as a family owned eatery where it quickly became a favorite for the locals and eventually became a successful business venture. The company operates over 300 restaurants in 35 states and employs more than 23,000 people. The company was featured as one of the leading restaurant companies of the 2000's by Restaurants and Institutions, Seafood Leader and Restaurant Hospitality. Team B has examined Landry's Restaurant's financial statements along with the footnotes to assess net income, total assets, property and equipment additions and stock options. Team B has also stated which financial statement is believed to be the most important. The two preceding statements will be the basis for the remainder of this paper to show the company is a good investment option because of the success the company has experienced throughout the years.
English: Statement of Cash Flows of San Narciso, Z...
Landry
Landry 1Net Income: Looking at Landry's consolidated statements of income is the best way to determine the net worth of $45,901,054 for the company. The main components of the statement that are going to be used are: revenue, operating costs and expenses, other expenses, income before income taxes, and provision for income taxes. The consolidated statements of income outlines the gross revenue brought into the company through sales. This is the dollar amount listed under the Revenues category.
The next component of the statement that is vital to determining the net income of the company is the operating costs and expenses. This section breaks down the costs of any expenses that are related to operating the business. These costs will range from labor costs, depreciation of...