Fin 324 Ratio Analysis And Statement Of Cash Flows

1806 words - 7 pages

Southwest Casino Corporations total current assets have decreased in 2005 compared to 2004 but when looking at total current assets 2005 is higher than 2004. In 2004 total assets was $20,609.00 and in 2005 it was $20,515.00. For total current assets in 2004 it was $2,126.00 and 2005 was $2,489.00. Blackhawk does not have a substantial amount of assets. In 2004 there were no total current assets or total assets. In 2005 is when the figures show for total and current assets being at $13,000.00. The following is a diagram of the two companies.BlackhawkAssetsCurrent Assets 2005 2004Cash And Cash Equivalents13 -Short Term Investments- -Net Receivables- -Inventory- -Other Current Assets- -Total Current Assets13 -Long Term Investments- -Property Plant and Equipment- -Goodwill- -Intangible Assets- -Accumulated Amortization- -Other Assets- -Deferred Long Term Asset Charges- -Total Assets13Southwest Casino CorpCurrent Assets 2005 2004Cash And Cash Equivalents1,198 953Short Term Investments- -Net Receivables569 377Inventory148 155Other Current Assets574 641Total Current Assets2,489 2,126Long Term Investments4,298 -Property Plant and Equipment12,108 16,102Goodwill- -Intangible Assets945 1,439Accumulated Amortization- -Other Assets101 100Deferred Long Term Asset Charges573 842Total Assets20,515 20,609(Yahoo, )On November 15, 2006, Southwest Casino Corporation announced Third Quarter Earning. The quarter ending September 30, 2006, Southwest Casino Corporation posted a net income of $1, 235,204.00 on a revenue of $16,748,357 compared to net income of $794,209 on revenue of $15,698,179 for the same period during 2005. Basic and fully diluted earnings increased from $0.04 per share in 2005 to $0.06 per share in 2006.Southwest had a net income $559,983.00 on revenue of $5,929,444.00. This compares to a net income of $901,196 on revenue of $,801,412.00 for the same time period in 2005. This results in basic and fully diluted earnings of $0.03 per share during the third quarter of 2006. This is down $0.02 per share, from $0.05 per share during the third quarter of 2005. (2006)In the first week of December, shares for Southwest Casino Corporation (OTCBB:SWCC) shares increased 1.54% r open to $0.660. The volume was at 3,100. Announcement from the company that North Metro Harness Initiative, LLC, in which Southwest owns a 50% membership interest, tentatively scheduled a groundbreaking for a harness track and card room that North Metro will build on the north side of the Minneapolis-St. Paul metropolitan area. Groundbreaking will be held at North Metro's harness track and card room site in Columbus, Minnesota on Thursday, January 18, 2007. This results from North Metro entering into a preliminary undertaking for construction and permanent financing and continued progress toward receipt of all required permits and government approvals. The task of providing financing remains subject to numerous conditions, including Southwest's need for additional funds that are required...

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