<<I can't find any sale of new equity. Perhaps you could point that out.>>
Sure. See where common stock increased from $146,126,000 to $150,750,000 over the last quarter? The only way it can change is if the company actually issued and sold new shares for $4,624,000. Many companies would sell shares for a par value of $0.001 and call the rest "paid in capital" but YHOO has a very simple balance sheet. Maybe these were option or warrant exercises, but they did bring in a significant amount of cash. Perhaps one of the accountants on board would care to confirm or refute this.
..................................................03/31/98......12/31/97
ÿÿShareholders'ÿequity:
ÿÿÿÿCommonÿStock..........................150,750........146,126ÿ
ÿÿÿÿAccumulatedÿdeficit......................(23,686)......(27,971)
ÿÿÿÿCumulativeÿtranslationÿadjustment ÿ ÿ(378) ÿ ÿ(443)
ÿÿÿÿTotalÿshareholders'ÿequity..............126,686......117,712ÿ
Here you can also see the Accumulated Deficit decreased by $4,285,000, exactly the amount that after tax earnings added to shareholder's equity. So, disregarding the "translation adjustment" we find that shareholder equity was increased by two things, retained earnings of $4,285 and stock sales of $4,624, or a total of $8,909. (126,686 - 117,712 = 8,974, the difference is in the "translocation")
You cannot separate the income statement and the balance sheet; assets and activity come out of the last balance sheet, they fly through the income statement and come back to rest on the new balance sheet.
The two are inseparable. The income statement is the movie and the balance sheets are single frames in the movie.
<<Yahoo uses an accrual method of accounting. I'm pointing out that Yahoo brought in $17.8 million more this quarter than went out on sales of $30 million. Real simple.>>
Sorry, but you are using a cash perspective to evaluate an accrual statement. It's not that simple.
Zebra
I'm not an accountant but they work for me, if I don't know the game they could bullsh*t me blind. |
