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    Paul RJ Gonzales
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    The balance sheet shows total current assets of $33,350 including cash, accounts receivable, inventory, and marketable securities. Total non-current assets including property, plant, and equipment net of depreciation and notes receivable are $6775. Total assets are $40,125. Total current liabilities are $9195 and total non-current liabilities including long term debt are $11,660, for total liabilities of $20,855. Total equity is $19,270 including common stock and retained earnings. The income statement shows revenues of $200,000 from sales and costs of goods sold of $110,000 for a gross profit of $90,000. Total expenses are $49

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    The balance sheet shows total current assets of $33,350 including cash, accounts receivable, inventory, and marketable securities. Total non-current assets including property, plant, and equipment net of depreciation and notes receivable are $6775. Total assets are $40,125. Total current liabilities are $9195 and total non-current liabilities including long term debt are $11,660, for total liabilities of $20,855. Total equity is $19,270 including common stock and retained earnings. The income statement shows revenues of $200,000 from sales and costs of goods sold of $110,000 for a gross profit of $90,000. Total expenses are $49

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    © All Rights Reserved
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    4 views2 pages

    Untitled

    Uploaded by

    Paul RJ Gonzales
    The balance sheet shows total current assets of $33,350 including cash, accounts receivable, inventory, and marketable securities. Total non-current assets including property, plant, and equipment net of depreciation and notes receivable are $6775. Total assets are $40,125. Total current liabilities are $9195 and total non-current liabilities including long term debt are $11,660, for total liabilities of $20,855. Total equity is $19,270 including common stock and retained earnings. The income statement shows revenues of $200,000 from sales and costs of goods sold of $110,000 for a gross profit of $90,000. Total expenses are $49

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 2

    Assets

    Cash = 2405
    accounts receivable = 8385
    inventory = 14,680
    marketable securities = 6730
    prepaid expenses = 860
    other current assets = 290

    Total = 33,350

    gross value property plant = 10,095.00


    depreciation= 3,320
    net property = 6675

    note receivable = ?

    total = 6775

    total 40,125.00

    liabilities

    account payable 3,125.00


    taxes payable = 180
    accrued liabilities = 785
    notes payable = 5,105
    total = 9195

    long term debt =11,660.00

    total = 20,855.00

    Equity

    common stock = 970


    retained earnings = 18,300.00
    total = 19,270.00

    total = 40,125
    Income Statement for the Year Ending December 31, 2022

    Revenue:

    Sales: $200,000.00

    Cost of Goods Sold: ($110,000.00)

    Gross Profit: $90,000.00

    Expenses:

    Utilities: ($700.00)

    Office Equipment: ($2,500.00)

    Advertising Expenses: ($5,000.00)

    Rent Expense: ($6,000.00)

    Payroll and Commission: ($35,000.00)

    Total Expenses: ($49,200.00)

    Net Income: $40,800.00

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