Balance Sheet

31st December, 2014

George Anderson

Assets Liabilities and Owners Equity

Current Assets Liabilities
Cash at Bank 2200 Current Liabilities
Cash in hand 1300 Trade payables 3400
Trade Receivables 4100 Long term Liabilities
Total Current Assets 7600
Fixed Assets Total Liabilities 3400
Premises 30000 Owners’ Equity
Motor Vehicle 8000
Capital 52000
Fixtures and fittings 10000
Retained Earnings (Net Income) 12,200
Total Fixed Assets 48000
Minus Drawing (12000)
Total Equity 52,200
Total Assets 55600 Total Liabilities and Owners Equity 55600

Income Statement
 31st December, 2014

George Anderson

Sales/ Revenue 40,000

Cost of Goods Sold (18500)

Gross Profit 21,500

Operating Expenses
Wages and Salaries (5100)

Repair and Maintance (1300)

Heating and Lighting (900)

General Expenses (1200)

Insurance Expenses (800)

Total Operating Expenses (

Earning Before Interest Taxes(EBIT) 12,200

Interest Expense (0)

Earning Before Tax(EBT) 12,200

Tax (0)

Net Income 12,200

Dividend minus
Retained Earnings
 Income Statement
December 2019
Rod Cast company
Sales/ revenue 165320

Cost of Goods Sold (2350)

Gross Profit 162970

Operating Expenses
Rent Expense 24000

Salaries Expense 65000

Utilities expense 13750

Total operating Expenses 102750

Earning before Interest and Tax (EBIT) 60220

Interest expense 0

Earning Before tax 60220

Tax 0

Net Income (earning available for Common Stock holder 60220

Dividends (28000)

Retained Earnings 32220

Balance Sheet

Assets Liabilities and Owners Equity

Current Assets Liabilities
Cash 5530 Current Liability
A/C Reciveable 85000 Account Payable 43100
Total Current Assets 140320 Long Term Liability
Fixed Assets Total Liabilities 43100
Machinery 70,000 Owners’ Equity
Trucks 60,000 Common Stock 125,000
Total Fixed Assets 130,000 Retained Earnings 102220
 Total equity 227220

Total Assets 270320 Total Liabilities and Owners Equity 270320

Sales/ revenue 165320

Cost of Goods Sold (2350)

Gross Profit 162970

Operating Expenses
Rent Expense 24000

Salaries Expense 65000

Utilities expense 13750

Total operating Expenses 102750

Earning before Interest and Tax (EBIT) 60220

Interest expense 0

Earning Before tax 60220

Tax 0

Net Income (earning available for Common Stock holder 60220

Dividends (28000)

Retained Earnings 32220

Sales/ revenue 9700

Cost of Goods Sold 1500

Gross Profit 8200

Operating Expenses
Rent Expense (750)

Office Maintained Expense (850)

Salaries Expense 2700

Utilities expense 280

Miscellaneous expense 350

Total operating Expenses (4930)

Earning before Interest and Tax (EBIT) 3270

Interest expense 0

Earning Before tax 3270

Tax 0

Net Income (earning available for Common Stock holder 3270

Dividends (550)

Retained Earnings 2720

Balance Sheet

Assets Liabilities and Owners Equity

Current Assets Liabilities
Cash 9070 Current Liability
A/C Reciveable 1200 Account Payable 2650
Prepaid rent 1500 Long Term Liability
Total Current Assets 11770 Total Liabilities 2650
Fixed Assets Owners’ Equity
Equipment 6000 Common Stock 20000
Trucks 15000 Retained Earnings 10570
Total equity 30570
Total Fixed Assets 21000
 Total Liabilities and Owners Equity 33220
Total Assets 32770