ASSETS LIABILITIES Current Current Cash $75 Accounts Payable $60 Acconts Receivable $40 Wages Payable $40 Inventories $90 Taxes Payable $25 Total Current Assets $205 Total Current Liabilities $125 Long Term Long Term Property $125 Bank Loans $150 Plant $200 Line of Credit $50 Equipment $150 Lease Obligations $25 Less Depreciation $50 Other Long-Term Obligations $0 Total Long-Term Assets $525 Total Long-Term Liabilities $225 Total Assets $730 Total Liabilities $350 OWNER EQUITY Paid in Capital $200 Capital Stock $100 Retained Earnings $80 Total Owner Equity $380 Total Liabilities and Owner Equity $730 Flagstaff Hotel - 600 Rooms Operating Information July 30, 2008 Total rooms 18,000 = 600 x 30 days in June Total out of order and complimentary rooms = 75 Total rooms sold in June = 15,300 Total guests = 18,360 Total room revenue = $1,185,000 Total restaurant customers = 11,000 Total restaurant revenue = $125,000 Total food cost = $35,500 Total hotel profit (net profit) = $550,000 Number common shares outstanding = 1,000,000 Stock price = $12.00 Total hotel revenue = $1,575,000