Larry’s Landscaping and Garden Supply

Balance Sheet

On January-December 2019, since this is the first year of establishment of the business, therefore its
given that there’s no Income should be expected in this year. Company incurred most expenses related
to administration because the company starts building its network, looking for customers.

On January- December 2020, the company incurred a huge loss due to start of higher operating
expenses. The Company Started to acquire materials and equipment for the future services that will be
rendered. Handling, Installation and Fixed Costs should also be considered as these will be part of
unavoidable costs of the entity. The Company expects more expenses but will be compensated in future
professional fees but based on the huge decrease of Income/Loss ratio, the company should considered
the relevant costing to continue.