CAn u summarize these 3 balance sheet statements so investors/lenders understand these statements (opening balance and year 1 and year 2)
January 22, 2020 Current Assets Cash $80,000 Inventory 60.000 Accounts receivables 40.000 Prepaid expenses 30,000 Office supplies 20.000 Total current assets $150.000 $150,000 Fixed assets Equipment $3.000 Store fixtures 2,000 Vehicles 4,000 Land and building 22,000 Total fixed assets $31,000 $31,000 Total assets $181,000 Current liabilities Opening day balance Accounts payable $15,760 sheet Notes payable (due within 12 months) 4.444 Total current liabilities $20,204 $20.204 Long term liabilities Bank loan (greater than 12 months) $65,000 Car loan (greater than 12 months) 30.000 Total long term liabilities $95,000 $95,000 Total liabilities $115,204 Owners equity $65.796 Total liabilities and owner's equity $181,000Current Assets Cash $110,000 Inventory 90.000 Accounts receivables 55,000 Prepaid expenses 55.440 Office supplies 57.770 Total current assets $368,210 $368,210 Fixed assets Equipment $800 Store fixtures 800 Vehicles 1,000 Land and building 16,000 Total fixed assets $18.600 $18.600 Total assets $386,810 Current liabilities Balance sheet year 3 Accounts payable $11,860 Notes payable (due within 12 months) 1,000 Total current liabilities $12,860 $12,860 Long term liabilities Bank loan (greater than 12 months) $25,000 Car loan (greater than 12 months) 12.000 Total long term liabilities $37.000 $37.000 Total liabilities $49.860 Owners equity $336,950 Total liabilities and owner's equity $386,810Finance - Google Docs Outlook dVkxxYOwO_6DFyMJ2Xr8hHIr3SL7i13hspli4/edit# December 31, 2020 Current Assets Cash 590,000 Inventory 70,000 Accounts receivables 30,000 Prepaid expenses 40,000 Office supplies 30,000 Total current assets $260,000 $260,000 Fixed assets Balance sheet year 1 Equipment $2,000 Store fixtures 2.000 Vehicles 2.600 Land and building 20,000 Total fixed assets $26,600 $26,600 Total assets $286,600 Current liabilities Accounts payable $14,860 Notes payable (due within 12 months) 3,066 Total current liabilities $17.926 $17.926 Long term liabilities Bank loan (greater than 12 months) $55,000 Car loan (greater than 12 months) 28,000 Total long term liabilities $83,000 $83.000 Total liabilities $100,926 Owners equity $185,674 Total liabilities and owner's equity $286,600 Balance sheet year 2 Digital & Beyond December 31, 2021 Current Assets Cash $100.000Current Assets Cash $100,000 Inventory 80,000 Accounts receivables 50,000 Prepaid expenses 50.440 Office supplies 56,770 Total current assets $337.210 $337.210 Fixed assets Balance sheet year 2 Equipment $1.800 Store fixtures 1.800 Vehicles 1.900 Land and building 19,000 Total fixed assets $24,500 $24,500 Total assets $361,710 Current liabilities Accounts payable $13,860 Notes payable (due within 12 months) 2,000 Total current liabilities $15,860 $15,860 Long term liabilities Bank loan (greater than 12 months) $45,000 Car loan (greater than 12 months) 18,000 Total long term liabilities $63,000 $63,000 Total liabilities $78,860 Owners equity $282,850 Total liabilities and owner's equity $361,710
