HEMPSTEAD REALTY Balance Sheet

March 31, 2001

Assets 2001
Current Assets
Cash 9,750
Accounts receivable 7,500
Office Supplies 500
Total current assets $ 17,750
Fixed (Long-Term) Assets
Land 30,000
Building 90,000
(Less accumulated depreciation) (1,000)
Office Equipment 21,000
(Less accumulated depreciation) (1,400)
Total fixed assets $ 138,600
Other Assets
Deferred income tax
Other
Total Other Assets $ -

Total Assets $ 156,350

[42]

Liabilities and Owner's Equity

Current Liabilities
Accounts payable 14,750
Total current liabilities $ 14,750
Long-Term Liabilities
Total long-term liabilities $ -
Owner's Equity
M. Valentino, captial 141,600
Total owner's equity $ 141,600

Total Liabilities and Owner's Equity $ 156,350

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