Lone Pine Café Balance Sheet as o

Liabilities Amount
Share Capital
Mr. Henry 16,000
Mrs. Henry 16,000
Mrs. Landers 16,000
Equity Capital 48,000
Bank Loan 21,000

69,000

Lone Pine Café Balance Sheet as on

Liabilities Amount
Share Capital
Mr. Henry 12,382
Mrs. Henry 12,382
Mrs. Landers 12,382
Equity Capital 37,146
Bank Loan 18,900
Creditors 1,583

57,629
lance Sheet as on Nov. 2, 2009
Assets Amount
Café Equipment 53,200
Inventory (Food & Bev.) 2,800
Prepaid License Fees 1,428
Cash Register 1,400
Bank 10,172

69,000

nce Sheet as on March 30, 2010

Assets Amount
Café Equipment 53,200
Cash Register 1,400
Total Equipments 54,600
Less: Depreciation -2,445
Net Equipments 52,155
Inventory (Food & Bev.) 2,430
Prepaid License Fees 833
Bank 1,030
Cash 311
Debtors 870

57,629
 LONE PINE CAFE (B)
Income Statement for November 2, 2009, through March 30, 2010
Sales $ 44,350
Expenses:
Salaries to partners $23,150
Part‑time employee wages 5,480
Food and beverage supplies l1,969
Telephone and electricity 3,270
Rent expense 7,500
Depreciation 2,445
Operating license expense 595
Interest 540
Miscellaneous expenses 255
Total expenses 55,204
(Loss) $(10,854)