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Balance Sheet Assets Current assets 2016 2015 Cash & cash equivalents 4,100 3,100 Account receivables 2,733,148 1,941,002 Inventory 1,389,390 1,468,257 Other current assets 13,901 0
Balance Sheet | ||
Assets | ||
Current assets | 2016 | 2015 |
Cash & cash equivalents | 4,100 | 3,100 |
Account receivables | 2,733,148 | 1,941,002 |
Inventory | 1,389,390 | 1,468,257 |
Other current assets | 13,901 | 0 |
Total current assets | 4,140,539 | 3,412,359 |
L.T. Assets | ||
PPE | 322,586 | 60,640 |
Total Assets | 4,463,125 | 3,472,999 |
Liabilities & Shareholders Equity | ||
Current liabilities | ||
Accounts payable | 276,556 | 256,419 |
Current maturities of notes payable | 1,834,858 | 337,881 |
Accrued expenses | 151,817 | 169,067 |
Other current liabilities | 128,632 | 161,905 |
Total current liabilities | 2,391,863 | 925,272 |
L.T. Liabilities | ||
Bank loans | 1,824,764 | 2,400,000 |
Total liabilities | 4,216,627 | 3,325,272 |
Shareholders equity | ||
Common stock | 46,499 | 46,499 |
Retained earnings | 199,999 | 101,228 |
Total shareholders equity | 246,498 | 147,727 |
Total shareholders equity & liab. | 4,463,125 | 3,472,999 |
Statement of income | ||
Revenue | $17,285,211 | $13,999,979 |
Cost of Good Sold | 14,947,152 | 11,920,400 |
Gross profit on sales | 2,338,059 | 2,079,579 |
Operating expenses | 1,871,538 | 1,529,231 |
Repairs and maintenance | 84,483 | 107,123 |
Depreciation & Amortization | 25,688 | 24,410 |
Interest expense | 215,246 | 255,003 |
Total expenses | 2,196,955 | 1,915,767 |
Net income before taxes | 141,104 | 163,812 |
Provision for income taxes | 42,333 | 65,525 |
Net income | 98,771 | 98,287 |
AUTO Inc, has paid $10,000 to its preferred shareholders in 2016 1) Compute Basic EPS and Diluted EPS
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