Sanford Schram Profit Loss
With any business, the bottom line is to find whether the company is profitable or if it depreciating in value. In this documentation, it will be discussed the profits and losses for Riordan Manufacturing for the fiscal years of 2010 and 2011. For the most part Riordan Manufacturing saw positive profits in most aspects. Those aspects are assets, liabilities, and stockholders’ equity.
For the fiscal year of 2010 the total assets were $34,825,498 and the fiscal year for 2011 the total assets were $47,409,137, which is a positive in total assets of $12,583,639 from one year to the next. In most subsections of assets Riordan Manufacturing saw a positive. However, the one category that needs improvement is Other Assets. The reason this category needs attention is because Riordan Manufacturing saw a loss in Other Assets. The negative for Other Assets between 2010 and 2011 was $9,642. In 2011, the total of Other Assets for Riordan was for the amount of $183,203 and 2010, there were a total of Other Assets for $192,845. By the numbers one can clearly see that Riordan Manufacturing needs to find a way of improving the section of Other Assets. Because Riordan does not want to see the same trends happen for the fiscal year of 2012.
Another section in assets that needs attention is Inventories. In the fiscal year of 2010, Riordan total assets for Inventories were $102,976 and in 2011, their totals assets for inventories were $84,255. When the math is done that is a loss of Inventories Assets of $18,721. Once again, Riordan Manufacturing needs to make some changes in this category to not continue the trouble they are having in this field.
The total liabilities for the fiscal year of 2010 Riordan Manufacturing had $4,878,506. For the fiscal year of 2011 Riordan their total for liabilities were $13,961,155. The difference between the 2010 and 2011 was $9,082,649 which is a positive. The…