DONATO,CZARINA F.

3BSA3

QUESTION 2. Prepare for the Statement of Financial Position

FM COMPANY

Income Statement

For the year ended 2019

ASSETS LIABILITY

Current Asset Current Liability

Cash 464,000 Trade and other payables 426,150

Trade and other receivables 532,200 Income tax payable 19,950

Inventory Current portion of long term debt 39,200

646,360
Marketable securities Total Current Liability 485, 300
164,000
Prepaid Expense Noncurrent Liability
44,000 535,500
Total Current Asset
Mortgage Payable
Noncurrent Asset 1,850,560 535,500
Total Noncurrent Liability
Property, plant, and equipment 1,020,800
Total Liabilities
Total Noncurrent Asset 1,621,220

TOTAL ASSETS
1,621,220 EQUITY 800,000

3,471,780 Shareholders’ Equity 1,599,000

51,600
Retained Earnings
2,450,980
Premium on Common Stock
3,471,780
Total Equity

TOTAL LIABILITIES AND

EQUITY