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.Jon's social security number is 123-45-6789 and Billy's is 987-65-4321. Bizrate's 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.

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