COVINGTON PIKE CORPORATION - 41,316 Shareholders’ equity...

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COVINGTON PIKE CORPORATION Balance Sheet At December XX, XXXX Assets Current assets: Cash $ 15,000 Accounts receivable, net 12,000 Inventories 29,993 Property, Plant, and Equipment 190,106 Total assets $ 217,106 Liabilities and Shareholders’ Equity Current liabilities $ 20,790 Note payable 5,000 Total current liabilities 25,790 Long-term liabilities: Bonds payable 40,033 Interest payable 1,283 Total long-term liabilities
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Unformatted text preview: 41,316 Shareholders’ equity: Total shareholders’ equity 150,000 Total liabilities and shareholders’ equity $ 217,106 COVINGTON PIKE CORPORATION Income Statement At December XX, XXXX Net Sales $ 300,000 Cost Of Good Sold 179,960 Goss Profit 120,040 Operating Expense 103,757 Interest Expense 1,283 Tax Expense 7,000 Net Income $ 15,000...
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