SIMPLE COMPANY

Statement of Financial Position

December 31,2022

ASSETS LIABILITIES AND SHAREHOLDERS' E

Current Assets: Current Liabilities:

Cash 420,000 Trade and other payables
Trading securities 250,000 Serial bonds payable - current
Trade and other receivables 620,000 Total Current Liabilities
Inventories 1,250,000
Prepaid expenses 20,000 Noncurrent Liabilities:
Total Current Assets 2,560,000 Serial bonds payable - remaining portio

Noncurrent Assets: Shareholders' Equity

Property, plant and equipment 4,640,000 Share capital
Long-term Investments 2,000,000 Share premium
Intangible Assets 300,000 Retained earnings
Total Noncurrent Assets 6,940,000 Total Shareholders' Equity

Total Assets 9,500,000 Total Liabilities and Shareholders' Equity

ITIES AND SHAREHOLDERS' EQUITY

d other payables 620,000

ds payable - current 500,000
urrent Liabilities 1,120,000

ds payable - remaining portion 2,000,000

5,000,000
500,000
880,000
hareholders' Equity 6,380,000

nd Shareholders' Equity 9,500,000

Note 1 - Trade and Other Receivables
Acccounts receivable 500,000
Allowance for doubtful accounts -50,000
Notes receivable 150,000
Claim rceivable 20,000
Total trade and other receivables 620,000

Note 2 - Inventories
Finished goods 400,000
Goods in process 600,000
Raw materials 200,000
Factory supplies 50,000
Total inventories 1,250,000

Note 3 - Prepaid expenses

Prepaid insurance 20,000

Note 4 - Property, Plant, and Equipment

Building 4,000,000
Land 1,500,000
Machinery 2,000,000
Tools 40,000
Total 7,540,000
Accumulated Depreciation -2,900,000
Carrying Amount 4,640,000

Note 5 - Long-term investments

Investment in bonds 1,500,000
Plant expansion fund 500,000
Total long-term investments 2,000,000

Note 6 - Intangible assets

Franchise 200,000
Goodwill 100,000
Total intangible asset 300,000

Note 7 - Trade and other payables

Accounts payable 300,000
Notes payable 100,000
Income tax payable 60,000
Employees income tax payable 20,000
Accrued interest on note payable 10,000
Advances from customers 100,000
Accrued expenses 30,000
Total trade and other payables 620,000