$2022$

$2023$

Accounts receivable $2,820,0002,397,000$

Advances to officers not currently due $180,000140,000$

Sinking fund $320,000320,000$

Long$-$term refundable deposit $140,000160,000$

Building $4,000,0003,200,000$

Accumulated Depreciation$-$building $1,600,0001,400,000$

Cash and cash equivalent $1,560,0001,480,000$

Cash surrender value $154,000148,000$

Equipment $1,200,000800,000$

Accumulated Depreciation$-$equipment $160,000112,000$

Lease rights $129,400180,400$

Accrued interest income $108,000132,000$

Land $2,000,0001,840,000$

Land held for speculation $1,200,000400,000$

Notes receivable $1,000,000900,000$

Computer Software $2,600,0002,600,000$

Prepaid expenses $164,000180,000$

Trading securities $524,000500,000$

Unearned rent income $32,00056,000$

Retained earnings $4,367,4002,637,400$

Share premium $$ preference shares $480,000320,000$

Premium on bonds payable $800,000880,000$

Preference share capital $2,400,0001,440,000$

Share premium $$ ordinary shares $240,000120,000$

Notes payable $240,000400,000$

SSS payable $8,00080,000$

Accounts payable $320,000400,000$

Accrued salaries $80,00080,000$

Bonds payable $4,000,0004,800,000$

Allowance for doubtful accounts $16,00012,000$

Dividend payable $300,000200,000$

Ordinary shares capital $4,000,0003,200,000$

Income tax payable $160,000160,000$

Preference share redemption fund $400,000280,000$

Freight$-$in $200,000100,000$

Purchases $6,000,0004,680,000$

Purchase return $20,00040,000$

Purchase allowances $10,00068,000$

Rent income $240,000240,000$

Freight$-$out $680,000472,000$

Salesmen commission $1,040,000880,000$

Depreciation expense $$ Building $200,000200,000$

Sales $12,560,00010\mathrm{.}120,000$

Sales return $90,00060,000$

Sales allowances $30,00016,000$

Sales discounts $22,00014,000$

Officers salaries $1,040,000960,000$

Depreciation expense $-$ equipment $48,00032,000$

Purchase discounts $60,00080,000$

Loss on sale of equipment $8,00012,000$

Loss on sales of securities $32,000-$

Interest income $24,00024,000$

Doubtful accounts $4,0004,000$

Additional Information

$20232022$

$1.$Inventories at January $1640,000600,000$

$2.$Inventories at December $31500,000640,000$

$3.$The company disposed equipment costing $($both of the equipment sold are $70\%$ depreciated$)200,000100,000$

$4.$Dividends declared $300,000200,000$

$5.$Tax rate is $30\%$

Create a Balance sheet