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Balance Sheet

XYZ company
01 Jan 2017 01 Jan 2018
Assets
Cash $ 90800 $ 85900
Account receivable $ 22000 $ 20300
Inventories $ 19300 $ 15500
Total current assets $ 132,100 $ 121700
Buildings $ 32000 $ 32000
Machinery and Equipments $ 11500 $ 6500
Land $ 21600 $ 21600
Total fixed assets $ 65100 $ 60100
Total assets $ 197200 $ 181800

Liabilities
Notes payable within one year $ 32500 $ 27500
Account payable within one year $ 9600 $ 18500
Total current liability $ 42100 $ 46000
Long term notes payable $ 21000 $ 23400
Total long term liabilities $ 21000 $ 23400
Total liabilities $ 63100 $ 69400

Equity
Owners equity $ 102000 $ 91300
Retaining earnings $ 32100 $ 21100
Total owners equity $ 134100 $ 112400
Total liability and owners equity $ 197200 $ 181800

Income statement
XYZ company
01 Jan 2017 01 Jan 2018

Total current revenue earned $ 212,300 $ 154000


Cost of contracts $ 117,400 $ 90650
Gross margin $ 54190 $ 36250
Salaries and Administrative $ 7890 v 5690
Rent and Transportations $ 5320 $ 4300
Annual interest payment $ 1300 $ 1300
Others $ 11250 $ 9550
Total operating cost $ 24460 $ 20,840
Operating Income $ 51500 $ 31430
Income Tax provision $ 10350 $ 5650
Net income $ 41150 $ 25780