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Based on the current balance sheet, how much equity should he give up for an investment in new product? NATURE BROS. LTD. Balance Sheet As
Based on the current balance sheet, how much equity should he give up for an investment in new product?
NATURE BROS. LTD. Balance Sheet As of September 30, 2003 | |
Unaudited | |
Current assets | |
110 CashAmerican Bank | $527.11 |
112 CashBank of Okla-Pryor | 31.86 |
115 Cash on hand | 24.95 |
120 Accounts receivable | 21,512.75 |
125 Employee advances | 327.37 |
140 InventoryShipping | 940.43 |
141 InventoryRaw materials | 1,082.29 |
142 InventoryWork-in-progress | 803.7 |
143 InventoryPackaging | 4,548.41 |
144 InventoryPromotional | 2,114.95 |
Total current assets | $31,913.82 |
Fixed assets | |
160 Leasehold improvements | $2,402.25 |
165 Fixtures and furniture | 1,222.46 |
167 Equipment | 18,768.21 |
169 Office equipment | 0 |
170 1986 Lincoln Town Car | 15,000.00 |
180 Less: Accumulated depreciation | -7,800.01 |
181 Less: Amortization | (502.50) |
Total fixed assets | $29,090.41 |
Other assets | |
193 Organizational cost | $4,083.36 |
194 Prepaid interest | 2,849.69 |
195 Utility deposits | .00 |
Total fixed and other assets | $36,023.46 |
Total assets | $67,937.28 |
Current liabilities | |
205 Accounts payable | $15,239.41 |
210 Note payable-premium finances | 88.26 |
220 Federal tax withheld | 150 |
225 FICA tax withheld | 937.92 |
230 State tax withheld | 266.49 |
231 State and federal employment taxes | 230.92 |
Total current liabilities | $16,913.00 |
Long-term liabilities | |
245 Note payableAll fill | $2,734.86 |
246 Note payableAmerican Bank | 23,740.00 |
247 Note payableSikeston Leasing | 15,126.66 |
Total long-term liabilities | $41,601.52 |
Total liabilities | $58,514.52 |
Capital account | |
290 Original capital stock | $1,000.00 |
291 Additional paid-in capital | 41,580.00 |
292 Treasury stock | -70 |
295 Retained earnings | -3,819.71 |
298 Net profit or loss | -29,267.53 |
Total owners equity account | $9,422.76 |
Total liabilities and equity | $67,937.28 |
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