Financial Concepts Evaluation

UAGC_BUS_637_Balance_Sheet.xlsx

Sheet1

			Balance Sheet
Assets
		20XX
Current Assets
	Cash and Cash Equiva;ents	$189,861
	Accounts Receivable	$1,317,566
	Notes Receivable	$0
	Inventories	$668,407
	Prepaid Expenses	$19,342
	Deferred Income Taxes	$34,000
Total Current Assets		$2,229,176
Property and Equipment		$2,025,122
Other Assets		$322,156
Note Receivable		$12,949
Total Asests		$4,589,403
Liabilities and Shareholders' Equity
Current Liabilities
	Notes Payable	$0
	Current Portion LT Debt	$120,104
	Accounts Payable	$502,303
	Accrued Expenses	$303,600
	Income Tax Payable	$23,000
Total Current Liabilities		$949,007

LT Debt Net of Current Pottion		$1,143,796
Deferred Income Tax		$356,000
Total Liabilities		$2,448,803
Shareholders' Equity
	Common stock, no par value,
	1,000,000 shares authorized
	800 shates issued	$80,000
	Retained Earnings	$2,660,600
	Total Shareholders Equity	$2,140,600
Total Liabilities and Shareholders' Equity		$4,589,403