Balance Sheet

FY-2017 FY-2018

Asset Type Prior Year Current Year

Current Assets 14,000 12,000

Fixed Assets 42,000 48,000

Other Assets 0 0

Current Liabilities 5,500 6,000

Long-term Liabilities 19,500 19,000

Owner Equity 31,000 35,000

Total Assets 56,000 60,000

Total Liabilities & Stockholder Equity 56,000 60,000

Balance 0 0

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Assets
FY-2017 FY-2018
Asset Type Description Prior Year Current Year
Current Assets Cash 2,800 2,000

Current Assets Inventories 9,000 7,000

Current Assets Accounts receivable 2,200 3,000

Fixed Assets Machinery and Equipment 8,000 12,000

Fixed Assets Buildings 43,000 50,000

Fixed Assets Less accumulated depreciation (Negative Value) (9,000) (14,000)

Total Assets 56,000 60,000

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Liabilities
FY-2017 FY-2018
Liability Type Description Prior Year Current Year
Current Liabilities Accounts payable 5,500 6,000

Long-term Liabilities Mortgage payable 19,500 19,000

Owner Equity Common Stock 26,000 26,000

Owner Equity Accumulated retained earnings 5,000 9,000

Total Liabilities & Stockholder Equity 56,000 60,000

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Categories
Categories
Current Assets
Fixed Assets
Other Assets
Current Liabilities
Long-term Liabilities
Owner Equity

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 Prior Year Current Year
Revenue 177777 200000
Cost of Goods Sold Calculation
Beginning Inventory 8000 9000
Purchases 130777 138000
Goods Available for Sale 138777 147000
Ending Inventory -9000 -7000
Cost of Goods Sold 129777 140000

Gross Profit 48000 60000

Operating Expenses
Telefone 6500 7000
Wages 26000 29000
Advertising 7500 10000
Depreciation 4000 5000
Total Operating Expenses 44000 51000

Income from Operations 4000 9000

Net Other Income (Expense) 0 -1000
Net Income Before Tax 4000 8000
Corporate Income Tax Expense -1000 -2000
Net Income Loss 3000 6000
Sources of Funds
Net Income 6000
Depreciation 5000
Increase in Acct. Payable 6000
Increase in other current Liabilities 60000
Decrease in Investments 54000
Total Source of Funds 131000

Use of Funds
Increase of Inventory 140000
Decrease in Long-Term Debt 19000
Payment of Cash Divdends 2000
Increase of Acct. Receivable 3000
Total Use of Funds 164000

Cash Flow -33000