| ABC COMPANY |
| BALANCE SHEET |
| At December 31, 20X2 and December 31, 20X1 |
| | | 20X2 | 20X1 | Dollar Change | % Change |
| Assets |
| Current Assets |
| Cash and cash equivalents | $ | 182,225 | 143,010 |
| Trading Securities | | 48,000 | 39,600 |
| Accounts receivable | | 28,000 | 19,500 |
| Allowance for doubtful accounts | | (5,000) | (2,900) |
| Accounts receivable, net | | 23,000 | 16,600 |
| Inventories | | 2,450 | 3,600 |
| Prepaid expenses and other receivables | | 200 | 750 |
| Available-for-sale securities | | 17,750 | 14,005 |
| Total current assets | $ | 296,625 | 234,165 |
| Property, plant and equipment, net | | 304,550 | 299,050 |
| Intangible Assets | | 300 | 300 |
| Total assets | $ | 601,475 | 533,515 |
| Liabilities and Shareholders' Equity |
| Current Liabilities |
| Salaries Payable | | 85,000 | 61,950 |
| FICA-Social Security Taxes Payable | | 10,540 | 7,682 |
| FICA-Medicare Taxes Payable | | 2,465 | 1,797 |
| Employee Federal Income Taxes Payable | | 8,500 | 6,000 |
| State Unemployment Taxes Payable | | 756 | 540 |
| Federal Unemployment Taxes Payable | | 84 | 60 |
| Notes payable or current portion of long-term debt | $ | 24,000 | 24,000 |
| Accounts payable | | 14,030 | 17,050 |
| Total current liabilities | | 145,375 | 119,079 |
| Long-term debt | | 104,400 | 128,400 |
| Total liabilities | $ | 249,775 | 247,479 |
| Shareholders' equity |
| Common stock, $10 per value; 50,000 shares authorized; 20,000 shares issued and outstanding | | 200,000 | 200,000 |
| Retained earnings | | 151,700 | 86,036 |
| Total shareholders' equity | | 351,700 | 286,036 |
| Total liabilities and shareholders' equity | $ | 601,475 | 533,515 |
OfficialADMIN
ABCCompanyBalanceSheet.xlsx
