Simple Company

Statement of Financial Position

As of December 31, 2010

ASSETS
CUURENT ASSETS
Cash 420,000
Trading Securities 1,750,000
Trade and Other Receivables 620,000
Inventories 1,250,000
Prepaid Insurance 20,000
TOTAL CURRENT ASSETS 4,060,000

NON-CURRENTS ASSETS
Property, Plant & Equipment 4,640,000
Plant Expansion Fund 500,000
Intangible Assets 300,000
TOTAL NON-CURRENT ASSETS 5,440,000
TOTAL CURRENT and 9,500,000
NON-CURRENT ASSETS

LIABILITIES
Current Liability:
Trade and Other Payables 620,000
Serial bond Payable-current portion 500,000
Note 1: Trading Securities
Financial Asset @ FV 250,000
Financial Asst @ Amortized Cost 1,500,000
TOTAL 1,750,000

Note 2: Trade and Other Receivables

Accounts Receivable 500,000
Allowance for Doubtful Accounts -50,000
Notes Receivable 150,000
Claim Receivable 20,000
TOTAL 620,000

Note 3: Inventories
Finished Goods 400,000
Goods in Process 600,000
Raw Materials 200,000
Factory Supplies 50,000
TOTAL 1,250,000

Note 4: Property, Plant & Equipment

Land 1,500,000
Building 4,000,000
Accumulated Depreciation-Building -1,600,000
Machinery 2,000,000
Accumulated Depreciation-Machinery -1,300,000
Tools 40,000
TOTAL 4,640,000

Note 5: Intangible Assets

Franchise 200,000
Goodwill 100,000
TOTAL 300,000

Note 6: Trade and Other Payables

Accounts Payable 300,000
Notes Payable 100,000
Income Tax Payable 60,000
Advances from Customers 100,000
Accrued Expenses 30,000
Accrued Interest on Notes Payable 10,000
Employees Income Tax Payable 20,000
TOTAL 620,000
Note 1:
Beginning Inventory