Assets Current Assets Bank 62,955.41 Accounts Receivable 37,527.37 Allowance for Doubtful Accounts 1,328.97 36,198.40 Merchandise Inventory 45,340.40 Supplies 15,471.80 Total Current Assets 159.966.01 Fixed Assets Office Furniture 102,596.00 Acc. Amort. - Furniture 28,093.08 74,502.92 Office Equipment 149,500.00 Acc. Amort. - Equipment 60,902.17 88,597.83 Delivery Truck 30,200.00 Acc. Amort. - Truck 19,188.89 11,011.11 Total Fixed Assets 174,111.86 Total Assets S 334,077.87 Liabilities and Owner's Equity Current Liabilities Accounts Payable $ 22,028.40 HST Payable 17,772.60 HST Recoverable 4,858.20 12,914.40 Total Current Liabilities 34,942.80 Long-Term Liabilities Loan Payable 38,450.00 Mortgage Payable 190,000.00 Total Long-Term Liabilities 228,450.00 J. Boulton, Capital Equity, Beginning of the Period 57,135.03 Add: Net Income (Loss) 18,185.44 Less: Drawings 3,260.40 Increase or Decrease in Equity 14,925.04 Equity, End of the Period 72,060.07 Total Liabilities and Owner's Equity $ 300,510.07