Question
Balance sheet from the information given below: EnviroPets is a small, local pet store that specializes in natural products for pets. They currently have $2,100
Balance sheet from the information given below:
EnviroPetsis a small, local pet store that specializes in natural products for pets. They currently have$2,100 in cash,customers owe them $750 for purchased goods,they have $4,575 in inventory, $2,500 in supplies, and$3,700 in equipment for providing grooming services.Their building and land are worth $250,000. EnviroPets currently owes $450 to suppliers, $3,000 for wages,$250 for taxes, $149,000 on the mortgage, and $12,500for a business loan. Kate and Brittany started thebusiness by investing $20,000 each (for a total of$40,000). The business has $58,425 in retained earnings.
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