Balance Sheet As at November 30 2020 2019 Assets Current Assets Cash $22,100 $10,600 Accounts Receivable $11,200 $6,600 Prepaid Expenses $2,500 $1,600 Merchandise Inventory $23,300 $15,400 Total Current Assets $59,100 $34,200 Long-Term Assets Equipment $177,000 $159,000 Less: Accumulated Depreciation $-27,500 $-15,600 Total Long-Term Assets $149,500 $143,400 Total Assets $208,600 $177,600 Liabilities Current Liabilities $16,700 $16,700 Long-Term Liabilities $28,000 $36,000 Total Liabilities $44,700 $52.700 Shareholders' Equity Contributed Capital Preferred Shares Common Shares Total Contributed Capital Retained Earnings Total Shareholders' Equity Total Liabilities and Equity $47,000 $47.000 $35,000 $20,000 $82,000 $67,000 $81,900 $57,900 $163,900 $124,900 $208,600 $177,600 For the Year Ended November 30, 2020 Cash Flow from Operations Net Income Adjustments to reconcile Net Income to Cash Depreciation Expense Change in Operating Assets and Liabilities Increase in Accounts Receivable Increase in Office Supplies Increase in Merchandise Inventory Net Cash Provided (Used) by Operating Activities Cash Flow from Investing Activities Purchase of Equipment Net Cash Provided (Used) by Investing Activities Cash Flow from Financing Activities Issuance of Common Shares Repayment of Long-Term Liabilities Net Cash Provided (Used) by Financing Activities Net Increase (Decrease) in Cash Cash at the Beginning of the Year Cash at the End of the Year