Balance Sheet of December 31, 2015

ASSETS

Current Assets

Cash and Cash Equivalent 11,980

Accounts Receivables20,520

Inventory 317,060

Inventory of Premiums (@0.10 per premium) 660

Total Current Assets350,220

LONG TERM ASSETS

Investments 66,775

Property Plant and Equipment750,000

Less Accumulated Depreciation 90,000 660,000

Total Long Term Assets726,775

INTANGIBLE ASSETS

Trade Marks190,000

Total Assets1,266,995

LIABILITIES AND SHAREHOLDERS' EQUITY

Current Liabilities

Accounts Payable50,772

Liability for Premiums and Coupons550

5% Short Term Notes Payable due on March 31, 20168,000

Accrued Interest on 6% Bonds Payable3,000

Total Current Liabilities62,272

6% Bonds Payable due 2020100,000

Unamortized Discount on Bonds Payable6,732 93,268

Total Liabilities 155,540

Stockholder's Equity

Common Stock

125,000 shares, par value $1 authorized

100,000 shares issued and outstanding 130,000

Paid in Capital in Excess of Par 946,000

Retained Earnings 35,455

Total in Stockholders' Equity 1,111,455

Total Liabilities and Stockholders' Equity 1,266,995

Trades Marks were acquired for $200,000 in 2015.Estimated useful life 20 years.

legal fees $ 45,000.

useful life of Trade Mark is estimated to be 25 years .

Accounts receivable $ 940,560.

COGS are $780,650.

total sales of $940,560 is the total amount of 6000 soap powder box coupons, it takes 4 coupons to get one Kitchen utensil. only 60% of the coupons are redeemed. during the year 3,400 coupons were redeemed. Purchase of premiums equals to $1100 for the year.6% Bonds Payable are issued on Jan 1 2015 to yield 8% interest. Interest is paid semi-annually on Jan 1st and June 30th. the Bonds can be redeemed any time after June 30,2016 for $101. to be able to redeem the 6% Bonds on Sept.1st 2016, the company issued 5%Bonds with the face value of $100,000 to yield 6% The maturity period of these 5% Bonds is 10 years and interest is paid semi-annually on 1st Jan and 30th June. The proceeds from the issue of 5% Bonds are used to redeem 6% Bonds Payable @ 101 on Sept.1st 2016. Administrative Expenses are $87,345.

PP&E is depreciated on Straight Line Method over 25 years of life. Cash =$906,450 -728254 Cash paid to suppliers for credit purchases

- $689,525 Purchases of inventory total. Land for $30,000 for construction of building

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