Bizrate Electronics, Inc.

A C Corporation

For the Year Ended December 31, 2018

Bizrate Electronics was organized on February 22, 2018, by Jon Jones and Billy Burt. Jon contributed $270,000 cash and SBUX stock (acquired 01/01/2017) worth $30,000 for 60% of Bizrate stock, while Billy contributed $200,000 cash for 40% of the stock. Jons social security number is 123-45-6789 and Billys is 987-65-4321. Bizrates employer ID number is 12-3456789. Bizrate began business on March 1, 2018. Bizrate is a retail electronics outlet located at 118812 Josey Lane, Louisville, KY 40018. Bizrate uses the accrual method of accounting, the first-in, first-out (FIFO) inventory method, and a calendar year.

Bizrates 2018 income statement, balance sheet, and statement of changes in retained earnings are on the following pages..

Bizrate Electronics, Inc.

Balance Sheet

December 31, 2018

Assets
	Cash		113,000
	Accounts Receivable	300,000
	Less Allowance for Bad Debts	29,000	271,000
	Inventory		1,700,000
	Tax Exempt Securities		17,000
	Other Current Assets		40,000
	Other Investments		85,000
	Buildings and Depreciable Assets (net)		165,400
	Land		70,000
	Total Assets		2,461,400
Liabilities and Equity
	Accounts Payable		375,000
	Mortgages, Notes Payable in < 1 year		185,000
	Other Current Liabilities		70,000
	Mortgages, Notes Payable in > 1 year		1,190,000
	Capital Stock		500,000
	Retained Earnings		141,400
	Total Liabilities and Equity		2,461,400

Bizrate Electronics, Inc.

Statement of Changes in Retained Earnings

For the Year Ended December 31, 2018

Beginning Balance		0
Income		381,400
Distributions		(240,000)
Balance, December 31, 2018		141,400

Other Information

Addresses for the owners are:

Jon Jones, 3513 Jackson Street, Louisville, KY 40018

Billy Burt, 2532 Sugarbush, Louisville, KY 40018

incone statement, postted earlier