Balance Sheets

In: Business and Management

Submitted By ganimirzayev
Words 271
Pages 2
Balance Sheet Assets Current assets: Yr 1 Yr 2 Yr 3 Cash 88,000 58,800 76,500 Inventories 100,000 88,000 118,000 Accounts receivable 89,000 71,000 97,000 Pre-paid expenses 43,000 61,500 57,500 Other 4,700 6,300 5,950 Total current assets 324,700 285,600 354,950 Fixed assets: Yr 1 Yr 2 Yr 3 Property & equipment 42,000 61,500 79,000 Raw Materials 28,000 21,500 18,500 Less Accumulated Depreciation 7,800 11,300 14,100 Total fixed assets 77,800 94,300 111,600 Total assets 301,500 379,900 466,550 Liabilities and owner's equity Current liabilities: Yr 1 Yr 2 Yr 3 Accounts payable 68,300 62,100 86,500 Accrued wages 12,000 15,750 17,380 Income taxes payable 5,750 6,230 4,790 Other 4,250 8,920 1,650 Total current liabilities 90,000 122,000 154,000 Long-term liabilities: Yr 1 Yr 2 Yr 3 Capital repayment 50,000 100,000 100,000 Total long-term liabilities 50,000 100,000 100,000 Owner's equity: Yr 1 Yr 2 Yr 3 Investment capital 100,000 100,000 150,00 Accumulated retained earnings 61,500 59,900 62,550 Total owner's equity 261,500 259,900 212,550 Total liabilities and owner's equity 301,500 379,900 466,550 Balance 301,500 379,900 466,550

• Current Ratio: Current Assets/ Current Liabilities
Yr 1: 324,700/ 90,000 = 3.6
Yr 2: 285,600/ 122,000 = 2.34
Yr 3: 354,950/ 154,000 =…...

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