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Cash, beginning of year $ 2,165.

00
Operating Activity
Net Income $ 4,397.00
Plus: Depreciation $ 2,212.00
Change in each current (A/R) (Inc.) $ 782.00
asset (except cash) (Inv.) (Dec.) $ 374.00
Change in each current (A/P) (Dec.) $222
liability (except Notes Payable) (other)(Inc.) $ 790.00
Net Cash from Operations $ 7,585.00
Investment Activity
Change in Fixed Assets (Inc.) $4,273
Net Cash from Investments $4,273
Financing Activity
Change in Notes Payable (Inc.) $2,951
Change in LT Debt (Dec.) $1,414
Change in Common Stock (Inc.) $ 2,500.00
Dividends Paid (YES) $ 3,100.00
Net Cash from Financing $ 7,137.00
Net Increase (or Decrease) in Cash $ 482.00
Cash End of Year $ 2,647.00
Terry Pup, Inc.

Balance Sheet

ASSETS

12/31/2015 12/31/2016

Cash $2,165 $2,647

Accounts Receivable 4,832 5,614 INCOME STATEMENT

Inventory 3,217 2,843 Period ended 12/31/16

TOTAL CURRENT ASSETS $10,214 $11,104

Sales $40,506

Fixed Assets Cost of Goods 14,177

Gross $35,183 $39,456 Depreciation 2,212

Accum. Depreciation -22,640 -24,852 Other Expenses $17,275

Net Fixed Assets $12,543 $14,604 EBIT $6,842

Interest 180

TOTAL ASSETS $22,757 $25,708 EBT $6,662

Tax 2,265

Net Income $4,397

LIABILITIES

Accounts Payable $1,642 $1,420 Dividends 3,100


Salary Payable 438 1,228 Addition to R/E 1,297
TOTAL CURRENT LIABILITIES $2,080 $2,648
Long-Term Debt $1,823 $409
TOTAL LIABILITIES 3,903 3,057
EQUITY
Common Stock 10,000 12,500
Retained Earnings 8,854 10,151
TOTAL EQUITY $18,854 $22,651

TOTAL LIABILITIES
AND EQUITY $22,757 $25,708
Terry Pup, Inc.
INCOME STATEMENT