Accounts receivable 50,000 25,000 Total cument assets 15 LONG TERM ASSETS Fixed Assets 75,000 TOTALASSETS LIABILITIES AND STOCKHOLDERS EQUITY CURRENT LIABILITIES 25 Accounts payable 75,000 26 Accrued expenses 27 income tax payable 5,000 28 current portion of notes payable 12,000 20 Deferred income taxes 1,500 30 31 Total current liabilities 123,500 32 33 LONG TERM LIABILITIES 34 Notes payable (long term) 35 36 TOTAL LIABILITIES 161,500 38 STOCKHOLDERS' EQUITY 39 40 common stock 5,000 41 Additional paid-in capita 15,000 Retained Earnings 44 45 Total stockholders equity 46 47 TOTAL LIABILITIES AND STOCKHC25 f E - = T Lots ~ % 0.0 71 1 00 09 1 C 3 Income Statement as of December 31, 2018 6 Revenues 650,000 8 Operating Costs 9 10 Gross Profit 205,000 11 12 General and Administrative Expenses 75,000 13 14 Operating Income 15 16 Other Expense 60,000 17 18 Income Before Provision for Income Taxes 19 20 Provision for Income Taxes 5,000 21 22 Net Income 23 24 25 Retained Earnings, Beginning Balance 103,500 26 27 Net Income 28 29 Retained Earnings, Ending Balance BO 31 32 Stemt of Cash Flows Balance Sheet Income Statement English (USA) PageStyle_Income Statement Address7% 0.0 D2 D Polly's Pet Products 2 3 Statement of Cash Flows as of December 31, 2018 Cash Flows from Operating Activities 6 Cash received from customers 600,000 Cash paid out to suppliers and employees 8 Interest paid (5,000) Taxes paid (10,000) Net cash provided by operating activities 185,000 11 12 Cash Flows from Investing Activities 13 Purchase of fixed assets (25,000) Net cash used in investing activities (25,000) 15 16 Cash Flows from Financing Activities 17 New loans 50,000 18 Repayments on loans (45,000) 19 Issuance of common shares of stock 5,000 20 Net cash provided by financing activities 21 22 Net change in Cash 23 24 Cash balance, beginning of year 30,000 25 26 Cash balance, end of year 27 28 29 30 31