As a new CDI consultant Marcia recognized the need for quality CDI for local hospitals and physicians at a reasonable price. She researched the industry and saw profitable gross margins for CDI consultants.

She decided to start her CDI consulting business, Marcias Expert CDI Consultants on January 1, 2016. On this day, she withdrew $50,000 from her own personal account and invested it in the business.

Marcias Expert CDI Consultants purchases inventory for $4,500, and land for future use for $20,000.

Rather than use up valuable cash resources, Marcia puts a $2,000 down payment on the land, and takes out a 15-year mortgage for the balance of $18,000. The mortgage stipulates that $900 is due and payable annually.

Marcia also entered into a credit agreement with a supplier to pay $3,000 cash for the inventory, and pay the balance of $1,500 within 90 days.

Finally, Marcia insured the consulting space for one year by paying $2,400 for insurance.

Instructions:

Create a business balance sheet in Excel for Marcia based on the information above.

Upload your Excel file below.