Current Assets
Cash $ 426
Accounts Receivable $ 99,400
Less: Allowance for Bad Debts 994 98,406
Inventory 62,800
Total Current Assets $161,632
Property, Plant, and Equipment
Land 70,000
Building 350,000
Less: Accumulated Depreciation- Building 10,000 340,000
Equipment 80,000
Less: Accumulated Depreciation- Equipment 9,000 71,000
Total Property, Plant, and Equipment 481,000
Total Assets $642,632
Current Liabilities
Accounts Payable $ 26,440
Interest Payable 6,650
Total Current Liabilities $ 33,090
Long Term Debt
Note Payable 380,000
Total Liabilities 413,090
Stockholders' Equity
Common Stock 160,000
Retained Earnings 92,742
Less: Dividends 23,200 69,542
Total Stockholders' Equity 229,542
Total Liabilities and Stockholders' Equity $642,632