HW#5 - Req 1 SMB Corporation Balance Sheet As of Dec 31st...

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Req 1 SMB Corporation Balance Sheet 2010 2009 Change % Change Assets: Current Assets Cash 41,325 50,550 (9,225) -18.25% Accounts Receivable 35,500 25,000 10,500 42.00% Inventories 31,650 25,450 6,200 24.36% Supplies 5,500 3,000 2,500 83.33% Prepaid Insurance 7,000 7,000 0 0.00% Total Current Assets 120,975 111,000 9,975 8.99% Property, Land and Equipment 400,000 250,000 150,000 60.00% Less: Accumulated Depreciation (90,000) (55,000) (35,000) 63.64% Property, Land and Equipment, net 310,000 195,000 115,000 58.97% Total Assets 430,975 306,000 124,975 40.84% Liabilities and Stockholder's Equity Current Liabilities Accounts Payable 27,250 15,000 12,250 81.67% Unearned Revenue 16,750 8,500 8,250 97.06% Interest Payable 11,500 4,750 6,750 142.11% Income Tax Payable 11,900 11,325 575 5.08% Total Current Liabilities 67,400 39,575 27,825 70.31% Note Payable (Long Term) 125,050 50,000 75,050 150.10% Total Liabilities 192,450 89,575 102,875 114.85% Stockholder's Equity Contributed Capital 180,000 180,000 0 0.00% Retained Earnings 58,525 36,425 22,100 60.67% Total Stockholder's Equity 238,525 216,425 22,100 10.21% Total Liabilities and Stockholder's E 430,975 306,000 124,975 40.84% As of Dec 31
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