157_634714809867753532_MRyan_Co._20x9_new_Winter_10

Balance sheet december 31 20x9 assets current assets

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Unformatted text preview: ce 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 Patent Total Assets $120,234 $69,500 (1,390) 68,110 140,000 1,000 329,344 $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 $559,344 Total Liabilities and Owners' Equity MRyan Co. Income Statement For the Year Ended December 31, 20x9 Sales Cost of Goods Sold Gross Margin $280,000 110,000 170,000 $14,000 12,000 10,000 890 36,890 133,110 (8,000) (8,000) 125,110 37,533 $87,577 Earnings Per Share $87,577/((90,000*8/12)+(130,000*4/12)) 60000+433333 shares 103,333 $0.85 MRyan Co. Statement of Owners' Equity For the Year Ended December 31, 20x9 Beginning Balance, December 31, 20x8 Issuance of Stock Net Earnings for the Year Dividends Declared Ending Balance, December 31, 20x9 Common Stock $90,000 40,000 $130,000 20,000 191,767 Long-Term Debt Note Payable- Bank Total Liabilities Owners' Equity Common Stock Retained Earnings Total Owners' Equity Operating Expenses Salary Expense Rent Expense Depreciation Expense Bad Debt Expense Total Operating Expenses Operating Income Other Revenues & <Expenses> Interest Expense Total Other Revenues & <Expenses> Income Before Taxes Tax Expense Net Income $150,000 18,767 3,000 Retained Earnings $123,000 87,577 (13,000) $197,577 Totals $213,000 40,000 87,577 (13,000) $327,577 40,000 231,767 $130,000 197,577 327,577 $559,344 MRyan Co. Statement of Cash Flows For the Year Ended December 31, 20x9 Operating Activities Net Income...
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