Acc/230 Week 6 Checkpoint

In: Business and Management

Submitted By eham
Words 331
Pages 2
Week 6 Check point

Locate the 2003 Consolidated Statements of Cash Flows for 1-800 Contacts, Inc. Net
Income for this company is on a downward trend while cash provided by operating activities
Is on an upward trend. Using any information you can obtain about this company and
Industry, write a report explaining this abnormal trend between the net income and the
Cash flow numbers and whether this should be a red flag to investors and creditors.

During the first quarter of 2003 the company purchased assets and took over liabilities of Lens Express and Lens 1st. The total purchased consideration resulted in $6,904, with common stock value of $19,859 and operating liabilities of $4,099. Since this was purchased in 2003 the company will see a downward trend in net income while there is an increase in operating activities. This company just took over two other companies and now needs to pay back what was invested. Since the two companies was purchased in the first quarter of 2003 the interim period are not necessarily a result that could be expected for the full fiscal year of 2003. In 2003 the option to purchase 1,207,482 shared where not included in the computation of Diluted EPS because the effect would be anti-dilutive and decreasing the loss per common share. As of 2003 the company had 700,000 shares of restricted common stock that where held in escrow with no shares to be released for 12 months. Along with this the company also too out a loan for $10 million to be paid back within 5 years to pay for the assets that they invested in. The company needs to keep an eye on the net income to ensure that it does increase and does not stay lower than the operating activities. The company should red flag the situation to ensure that they will see an increase and if not find the changes that should be…...

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