B&L Landscapes, Inc. Mini Practice Part 3 Bill Graham and Lory Miller incorporated B&L Landscapes Inc on July 1,2016 The business consists of lawn care and sprinkler system installations In addition, they also sell two types of At the end of the first year, 8 and Lary have asked you to andlyze their first year of operations and given them some suggestions on areas that may need improvement as they move into their second year Below are the bolance sheets for the date of incorporation and the end of the first year of S&L Landscapes, Inc. Bolance Sheet July 1, 2016 Current Assels 29.500 Accounts Receivable (net) Prepoid Insurance Total Current Assets Property, Plant and Equipment Land 9.000 Total Assets 97.1 Liabilities and Stockholders' Equity Current Liobilifies Accounts Payable Long-Term Liabililities Notes Payable Totol iabiities Stockholders Equity Paid-in Capital Capital Stock 5% Preferred stock, $100 por vote. $10.000 45.000 7.000 5.000 shares o noted, 70 shares ssued and outstanding Common stock $1 par value. 150.000 shores outhorized. 35.100 shares issued and outstanding Tofol Copital Stock Retained Eamings Total Stockholders Equity Total Liabilities and Stockholders' Equity 35.100 42.100 2 100