Carpino Company Financial Memo
MEMORANDOM
TO: Shareholders
From: Carpino Company Corporate Office
Date: February 10, 2007
Subject: Annual Report
CC: Board of Directors
It is with great pleasure to report Carpino Company’s financial results in our first year of business. The purpose of this memo is to clarify the attached Statement of Cash Flows and provide a brief synapsis of this year’s results.
Although at first glance you may notice that Carpino Company had a net loss $30,000; this is not necessarily cause for concern. After factoring in the $55,000 depreciation and subtracting the $5000 gain from sale of investment, we were able to produce a positive $20,000 in net cash provided by operating activities.
As with our operating activities our cash flow
TO: Shareholders
From: Carpino Company Corporate Office
Date: February 10, 2007
Subject: Annual Report
CC: Board of Directors
It is with great pleasure to report Carpino Company’s financial results in our first year of business. The purpose of this memo is to clarify the attached Statement of Cash Flows and provide a brief synapsis of this year’s results.
Although at first glance you may notice that Carpino Company had a net loss $30,000; this is not necessarily cause for concern. After factoring in the $55,000 depreciation and subtracting the $5000 gain from sale of investment, we were able to produce a positive $20,000 in net cash provided by operating activities.
As with our operating activities our cash flow