Big Picture Project 2022 Transactions Plan B 1-1 Start Up Funding Sign Note for $15,000 @ 8% Issue Stock for $57,000 1-2 Purchase Equipment @1/1 Purchase showroom displays for $10,000 cash; SL Depreciation 5 yr. useful life, $0 salvage value 1-3 Purchase Inventory for $32,000 cash 1-4 Service & Sales Revenue Service Revenue $8,000 Sales Rev $56,000; COGS $28,000 1-5 Expenses Total Operating Exp. $26,000 Depreciation Exp. = equip. cost x 1/5 Interest Expense = Note Pay. yr. end balance x 8%