Balance Sheet and Income Statement Commentary

Balance Sheet and Income Statement Commentary

The financial institute I choose to profile was JP Morgan Chase bank. I found that this bank had a great year. All numbers were shown in thousands and their total assets went down to 2,031,989 from 2,175,052 the previous year. It also looks like their liabilities went down too. This bank had a net revenue of 100,434 which was substantially larger than 67,252 the previous year but it must be considered that they also took more losses 32,015 versus 20,979 from 2007 (6,864 in 2006) they took on substantial assets with Washington Mutual which ended up to be a total worth of 39,186. It is interesting to see a loose from the sub prime mortgagees down to 76,000 from 369 from 2008. This banks total net income was just over 15 million dollars for the year of 2009

The manufacturing company I choose to profile was Material Sciences and Commodities. This company has been fighting the past two years steadily. They are producers of automotive parts that include body panels, brakes, and engine parts as well as Hvac, swimming pool parts and lighting markets with 67% of its business coming from the automotive industry. All the numbers were based in thousands and in 2007 they had 120,305 in cash and cash equivalents 2008 7,913 and this year they gained slightly with 10,664. With a net gain of just under 6 million dollars this year they are up considerably from last years 3,789,000 figures. Through out the year they have gained more inventory reserves from just over 2 million to just under 3 million. Total net sales were 187 million down form 2008 235 million with a total gross profit of just over 24 million.

The food specialty company I choose to profile was Bridgeford Foods Corporation. The company sells frozen food products and refrigerated products .This Company is one of the smaller companies that I found that is a publically traded company. Its balance sheet was calculated in thousands but the company itself seems to be growing. When comparing the current assets between the years of 2008- 2009 we see a number of things. First we see that that they have more cash in 09 that in previous year 13,911 for 09 and 6,092 for 08 . We also see that they have fewer inventories in 09 with 15,595 vs. 16,052. This would explain the fact that they have more cash. Interestingly the total current assets increased by 9 million, with taxes property plant, equipment depreciation and