Bb 500 890 18 1390 inventory 50000 60000 120000 80000

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Unformatted text preview: 000 Liabilities + Accounts Payable 2 50,000 50,000 BB 90,000 3 60,000 8 150,000 19 20 30,213 20 Tax Expense 30,213 MRyan Co. Balance Sheet December 31, 20x9 Assets Current Assets Cash Accounts Receivable Less: Allowance for Doubtful Accounts Net Accounts Receivable Inventory Prepaid Rent Total Current Assets Fixed Assets Equipment Less: Accumulated Depreciation Subtotal Land Net Fixed Assets Other Assets Goodwill Total Assets $122,294 $69,500 (1,390) 68,110 110,000 1,000 301,404 $200,000 (70,000) 130,000 80,000 Liabilities Current Liabilities Accounts Payable Taxes Payable Salary Payable Current Portion of Long-Term Debt Total Current Liabilities 210,000 20,000 $531,404 Total Liabilities and Owners' Equity MRyan Co. Income Statement For the Year Ended December 31, 20x9 Sales Cost of Goods Sold Gross Margin $280,000 140,000 140,000 $6,800 12,000 10,000 890 29,690 110,310 (9,600) (9,600) 100,710 30,213 $70,497 Earnings Per Share $70497/((90,000*8/12)+(130,000*4/12)) 60000+433333 shares 103,333 $0.68 MRyan Co. Statement of Owners' Equity For the Year Ended December 31, 20x9 Beginning Balance, Decem...
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