Bebida Beverage Company (BBDA)

[kidnova]

Let's start with the fact that the Equity section has been completely excised from the balance sheet.

Then let's discuss that Cost of Goods should be combined with Cost of Sales to create Cost of Goods Sold and subtracted from sales revenue to come up with gross margin. Unless he intended "Cost of sales" to be "Selling Expenses" in which case it should be moved down to the Operating Expenses section.

Then let's again mention that he has completely ignored Income Tax Expenses.

Then let's mention that the Shares Issued for Cash should be under the financing section of the Cash Flow Statement, and shouldn't be included in the Gross Income numbers, but I'm sure they are.

These statements are a travesty and an embarassment to both the company and the individual who prepared them. They need to use some of this net income to hire somebody that has any clue at all about accounting. Seriously, there is so much wrong here that it would be virtually impossible to list it all.