Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Can someone just get the balance sheet to balance? Put in random numbers you think would make sense if you need to. Thank you I

Can someone just get the balance sheet to balance? Put in random numbers you think would make sense if you need to. Thank you

image text in transcribedimage text in transcribed

image text in transcribed

image text in transcribed

I just need you to fill in numbers so the balance sheet will balance.

As of Inception 2021 % Date Ending 2021 % Date Ending 2022 % Date Ending 2023 % Date Ending 2024 % Date Ending 2025 % ASSETS Current Assets $ 1,426,519 89.40% 10.41% Cash and Cash Equivalents Accounts Receivable Inventory Short Term Investments Total Current Assets 1,700 84.28% $ 362,787 0.00% 222,695 0.10% 17,500 0.00% - - 84.38% $ 602,982 44.59% $ 2,942,211 27.33% $ 327,525 2.15% 17,800 0.00% - 74.01% $ 3,287,536 85.37% $ 7,772,914 9.50% 514,906 0.52% 19,800 0.00% - 95.39% $ 8,307,620 92.39% 13,814,325 6.12% 865,069 0.24% 20,000 0.00% - 98.74% $ 14,699,394 93.64% 11,759,276 5.86% 1,370,006 0.14% 25,000 0.00% - 99.84% $ 13, 154,282 0.19% 0.00% % $ 1,428,219 100.00% Fixed (Long-Term)Assets 264,750 Machinery and Equipment Buildings 1.79% 264,750 0.00% % 2.01% 0.00% 0.00% Land 0.00% 15.64% 264,750 0.00% 0.00% - 15.84% $ 264,750 0.00% -52,950 15.64% $ 211,800 32.49% 264,750 0.00% 0.00% 32.49% $ 264,750 -6.50% -105,900 25.99% $ 158,850 7.68% 264,750 0.00% 0.00% 7.68% $ 264,750 -3.07% -158,850 4.61% $ 105,900 3.15% 264,750 0.00% 0.00% 3.15% $ 264,750 -1.89% -211,800 1.28% $ 52,950 $ 264,750 Total Gross Fixed Assets Less: Accumulated Depreciation Net Fixed Assets 1.79% $ 264,750 -1.44% -264,750 0.38% S. 2.01% % -2.01% 0.00% $ 264,750 Other Long Term Assets 0.00% - 0.00% Long Term Investments Intangibles, Net of Amortization Total Other Long Term Assets 0.00% 0.00% - 0.00% - 0.00% $- % 0.00% 0.00%- 0.00% $- 0.00% - 0.00% 0.00% - 0.00% - 0.00% $ - 0.00% $- 0.00% $- 0.00% $ - 0.00% Total Assets $ 1,692,969 100.00% $ 814,782 100.00% $ 3,446,386 100.00% $ 8,413,520 100.00% $ 14,752,344 100.00% $ 13,154,282 100.00% 2021 2022 2023 2024 2025 Sales Revenue COGS Gross Profit $ 3,340,421 1,196,285 $ 2,144,136 100.00% $ 4,912,877 35.81% 1.457 102 64.19% $ 3,455,775 100.00% $ 7,723,583 29.66% 1.901.928 70.34% $5,821,656 100.00% $ 24.62% 75.38% $ 12,976,047 2,692,701 10,283,346 100.00% $20,550,084 20.75% 3.872,320 79.25% $ 16,677,764 100.00% 18.84% 81.16% 2,157,620 $241,487 $375,165 10.72% 1.22% 1,89% 24 28% $ 2.78% 4,04% 0.00% 1.10% 0.84% 1.12% 0.06% 0.00% 0.41% 0.31% 0.42% 0.02% 0.00% General and Administrative Expenses Salaries and Wages $ 1,811,860 Payroll Tax Expenses $203,655 Employee Benefits and Retirement $298,545 Commissions Expense General Insurance Expense 85,000 Depreciation Expense 64,990 Rent Expense 86,400 Travel, Meals, and Entertainment 5,000 Website Expense 800 Advertising and Promotion Expense 274,051 Taxes & Licenses 7.938 Office Expense 14,800 Other - Other - Other - - Other - Other - Other - Other Total General & Administrative Expenses $ 2,853,039 85,000 64,990 86,400 5,000 600 274,051 7,938 2.400 0.01% 16.63% $ 2,202,940 1.86% $250,171.31 2.89% $388,095.00 0.00% 0.66% 85,000 0.50% 63,350 0.67% 86,400 0.04% 5,000 0.00% 600 2.11% 274,051 0.06% 7.938 0.02% 2,400 0.00% 3.55% 54.24% $ 1,841,080 6.10% $207,665 8.94% $298,860 0.00% 2.54% 85,000 1.95% 64,990 2.59% 86,400 0.15% 5,000 0.02% 600 8.20% 274,051 0.24% 7.938 0.44% 2.400 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 85.41% $ 2,873,984 37.47% $1,875,500 4.23% $214,344 6.08% $311,775 0.00% 1.73% 85,000 1.32% 64,990 1.76% 86,400 0.10% 5,000 0.01% 600 5.58% 274,051 0.16% 7,938 0.05% 2,400 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 58.50% $2,927,998 1.33% 0.10% 0.03% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 37.91% $ 0.00% 0.00% 0.00% 0.00% 0.00% 25.44% $ 3,365,945 0.00% 0.00% 3,300,651 16.38% Earnings Before Interest and Taxes (708,903) 21.22% $ 581,791 11.84% $ 2,893,658 37.47% $ 6,982,695 53.81% $ 13,311,819 64.78% Interest Expense 14 26,537 0.79% 26,537 0.54% 26.537 0.34% 26,537 0.20% 26.537 0.13% Earnings Before Taxes $ (735,440) 22.02% $ 555,254 11.30% $2,867,121 37.12% $ 6,956,158 53.61% $ 13,285,282 64.65% Income Tax Expense 0.00% 0.00% 0.00% 38,000 0.29% 131,000 0.64% Net Income (Loss) $ (735,440) 22.02% $ 555,254 11.30% $2,867,121 37.12% $ 6,918,158 53.31% $ 13,154,282 64.01% Statement of Retained Earnings Beginning Balance of Retained Earnings $ $ (735,440) $ (180,185) $ 2,686,935 $ 9,605,093 Net Income (Loss) (735,440) 555,254 2,867,121 6,918,158 13.154,282 Dividends to Stockholders Ending Retained Earnings $ (735,440) $ (180,185) $ 2,686,935 $ 9,605,093 $ 22,759,374 As of Inception 2021 % Date Ending 2021 % Date Ending 2022 % Date Ending 2023 % Date Ending 2024 % Date Ending 2025 % ASSETS Current Assets $ 1,426,519 89.40% 10.41% Cash and Cash Equivalents Accounts Receivable Inventory Short Term Investments Total Current Assets 1,700 84.28% $ 362,787 0.00% 222,695 0.10% 17,500 0.00% - - 84.38% $ 602,982 44.59% $ 2,942,211 27.33% $ 327,525 2.15% 17,800 0.00% - 74.01% $ 3,287,536 85.37% $ 7,772,914 9.50% 514,906 0.52% 19,800 0.00% - 95.39% $ 8,307,620 92.39% 13,814,325 6.12% 865,069 0.24% 20,000 0.00% - 98.74% $ 14,699,394 93.64% 11,759,276 5.86% 1,370,006 0.14% 25,000 0.00% - 99.84% $ 13, 154,282 0.19% 0.00% % $ 1,428,219 100.00% Fixed (Long-Term)Assets 264,750 Machinery and Equipment Buildings 1.79% 264,750 0.00% % 2.01% 0.00% 0.00% Land 0.00% 15.64% 264,750 0.00% 0.00% - 15.84% $ 264,750 0.00% -52,950 15.64% $ 211,800 32.49% 264,750 0.00% 0.00% 32.49% $ 264,750 -6.50% -105,900 25.99% $ 158,850 7.68% 264,750 0.00% 0.00% 7.68% $ 264,750 -3.07% -158,850 4.61% $ 105,900 3.15% 264,750 0.00% 0.00% 3.15% $ 264,750 -1.89% -211,800 1.28% $ 52,950 $ 264,750 Total Gross Fixed Assets Less: Accumulated Depreciation Net Fixed Assets 1.79% $ 264,750 -1.44% -264,750 0.38% S. 2.01% % -2.01% 0.00% $ 264,750 Other Long Term Assets 0.00% - 0.00% Long Term Investments Intangibles, Net of Amortization Total Other Long Term Assets 0.00% 0.00% - 0.00% - 0.00% $- % 0.00% 0.00%- 0.00% $- 0.00% - 0.00% 0.00% - 0.00% - 0.00% $ - 0.00% $- 0.00% $- 0.00% $ - 0.00% Total Assets $ 1,692,969 100.00% $ 814,782 100.00% $ 3,446,386 100.00% $ 8,413,520 100.00% $ 14,752,344 100.00% $ 13,154,282 100.00% 2021 2022 2023 2024 2025 Sales Revenue COGS Gross Profit $ 3,340,421 1,196,285 $ 2,144,136 100.00% $ 4,912,877 35.81% 1.457 102 64.19% $ 3,455,775 100.00% $ 7,723,583 29.66% 1.901.928 70.34% $5,821,656 100.00% $ 24.62% 75.38% $ 12,976,047 2,692,701 10,283,346 100.00% $20,550,084 20.75% 3.872,320 79.25% $ 16,677,764 100.00% 18.84% 81.16% 2,157,620 $241,487 $375,165 10.72% 1.22% 1,89% 24 28% $ 2.78% 4,04% 0.00% 1.10% 0.84% 1.12% 0.06% 0.00% 0.41% 0.31% 0.42% 0.02% 0.00% General and Administrative Expenses Salaries and Wages $ 1,811,860 Payroll Tax Expenses $203,655 Employee Benefits and Retirement $298,545 Commissions Expense General Insurance Expense 85,000 Depreciation Expense 64,990 Rent Expense 86,400 Travel, Meals, and Entertainment 5,000 Website Expense 800 Advertising and Promotion Expense 274,051 Taxes & Licenses 7.938 Office Expense 14,800 Other - Other - Other - - Other - Other - Other - Other Total General & Administrative Expenses $ 2,853,039 85,000 64,990 86,400 5,000 600 274,051 7,938 2.400 0.01% 16.63% $ 2,202,940 1.86% $250,171.31 2.89% $388,095.00 0.00% 0.66% 85,000 0.50% 63,350 0.67% 86,400 0.04% 5,000 0.00% 600 2.11% 274,051 0.06% 7.938 0.02% 2,400 0.00% 3.55% 54.24% $ 1,841,080 6.10% $207,665 8.94% $298,860 0.00% 2.54% 85,000 1.95% 64,990 2.59% 86,400 0.15% 5,000 0.02% 600 8.20% 274,051 0.24% 7.938 0.44% 2.400 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 85.41% $ 2,873,984 37.47% $1,875,500 4.23% $214,344 6.08% $311,775 0.00% 1.73% 85,000 1.32% 64,990 1.76% 86,400 0.10% 5,000 0.01% 600 5.58% 274,051 0.16% 7,938 0.05% 2,400 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 58.50% $2,927,998 1.33% 0.10% 0.03% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 37.91% $ 0.00% 0.00% 0.00% 0.00% 0.00% 25.44% $ 3,365,945 0.00% 0.00% 3,300,651 16.38% Earnings Before Interest and Taxes (708,903) 21.22% $ 581,791 11.84% $ 2,893,658 37.47% $ 6,982,695 53.81% $ 13,311,819 64.78% Interest Expense 14 26,537 0.79% 26,537 0.54% 26.537 0.34% 26,537 0.20% 26.537 0.13% Earnings Before Taxes $ (735,440) 22.02% $ 555,254 11.30% $2,867,121 37.12% $ 6,956,158 53.61% $ 13,285,282 64.65% Income Tax Expense 0.00% 0.00% 0.00% 38,000 0.29% 131,000 0.64% Net Income (Loss) $ (735,440) 22.02% $ 555,254 11.30% $2,867,121 37.12% $ 6,918,158 53.31% $ 13,154,282 64.01% Statement of Retained Earnings Beginning Balance of Retained Earnings $ $ (735,440) $ (180,185) $ 2,686,935 $ 9,605,093 Net Income (Loss) (735,440) 555,254 2,867,121 6,918,158 13.154,282 Dividends to Stockholders Ending Retained Earnings $ (735,440) $ (180,185) $ 2,686,935 $ 9,605,093 $ 22,759,374

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Mylab Accounting With Pearson -- Access Card -- For Managerial Accounting

Authors: Karen W. Braun, Wendy M. Tietz

5th Edition

0134161645, 9780134161648

More Books

Students also viewed these Accounting questions