Cannot figure out how to balance this balance sheet, what am I missing from this sheet or what are some tips to help solve the problem?
Balance Sheet Year 1 Year 2 Year 3 Year 4 Year 5 12/31/2022 12/31/2023 12/31/2024 12/31/2025 12/31/2026 Assets Current Assets Cash and Cash Equivalents Accounts Receivables Inventories Prepaid Warehouse/Distribution Prepaid Insurance Prepaid Marketing Prepaid Rent Prepaid Licenses & Permits Prepaid Financial Administration Prepaid Business Internet & Telephone Prepaid Office Supplies Prepaid Shipping Materials Prepaid Payroll Taxes Prepaid Travel Other Current Assests Total Current Assets $783,011.41 $41,211.27 $24,182.07 $2,688.00 $1,032.00 $32,894.00 $44,300.00 $257.00 $18,000.00 $1,130.00 $500.00 $13,211.19 $0.00 $3,420.00 $5,865.69 $971,702.63 $939,613.70 $1,268,478.48 $1,775,869.88 $2,486,217.84 $49,453.35 $66,762.03 $93,466.84 $130,853.57 $21,763.86 $26,116.64 $23,504.97 $21,154.47 $2,688.00 $2,688.00 $2,688.00 $2,688.00 $1,032.00 $1,032.00 $1,032.00 $1,032.00 $32,894.00 $32,894.00 $32,894.00 $32,894.00 $44,300.00 $44,300.00 $44,300.00 $44,300.00 $257.00 $257.00 $257.00 $257.00 $18,000.00 $18,000.00 $18,000.00 $18,000.00 $1,130.00 $1,130.00 $1,130.00 $1,130.00 $500.00 $500.00 $500.00 $500.00 $13,211.19 $13,211.19 $13,211.19 $13,211.19 $0.00 $13,770.00 $13,770.00 $13,770.00 $3,420.00 $3,420.00 $3,420.00 $3,420.00 $1,128,263.10 $1,492,559.34 $2,024,043.88 $2,769,428.07 Non Current Assets Office Equipment & Furniture Electronics Less: Accumulated Depreciation Net Office Equipment & Electronics $15,810.50 $3,404.89 -$2,882.31 $16,333.08 $13,438.92 $2,894.16 -$2,882.31 $13,450.77 $11,067.34 $2,383.43 $2,882.31 $10,568.46 $8,695.76 $1,872.70 -$2,882.31 $7,686.15 $6,324.18 $1,361.97 -$2,882.31 $4,803.84 Total Non Current Assets $16,333.08 $13,450.77 $10,568.46 $7,686.15 $4,803.84 Total Assets $988,035.71 $1,141,713.87 $1,503,127.80 $2,031,730.03 $2,774,231.91 Liabilities Current Liabilities Accounts Payable and Accrued Expenses Product Owed to Kickstarter Interest Payable Long-term Debt (Angel Investor) Total Current Liabilities $177,610.20 $0.00 $10,008.85 $200,177.00 $187,619.05 $188,691.36 $0.00 $10,008.85 $150,132.75 $198,700.21 $414,661.54 $0.00 $10,008.85 $100,088.50 $424,670.39 $485,586.95 $0.00 $10,008.85 $50,044.25 $495,595.80 $584,882.53 $0.00 $10,008.85 $0.00 $594,891.38 Total Liabilities $387,796.05 $348,832.96 $524,758.89 $545,640.05 $594,891.38 Equity Capital Contributtion from Founders Equity from Crowdfunding Retained Earnings (Loss) $100,000.00 $0.00 $500,239.66 $100,000.00 0 599823.91 $100,000.00 0 685520.8 $100,000.00 0 1085455.05 $100,000.00 0 1655522.51 Total Equity $600,239.66 $699,823.91 $785,520.80 $1,185,455.05 $1,755,522.51 Total Liabilities & Equity $988,035.71 $1,048,656.87 $1,310,279.69 $1,731,095.10 $2,350,413.89 93057 192,488.11 300,534.93 Balance Sheet Year 1 Year 2 Year 3 Year 4 Year 5 12/31/2022 12/31/2023 12/31/2024 12/31/2025 12/31/2026 Assets Current Assets Cash and Cash Equivalents Accounts Receivables Inventories Prepaid Warehouse/Distribution Prepaid Insurance Prepaid Marketing Prepaid Rent Prepaid Licenses & Permits Prepaid Financial Administration Prepaid Business Internet & Telephone Prepaid Office Supplies Prepaid Shipping Materials Prepaid Payroll Taxes Prepaid Travel Other Current Assests Total Current Assets $783,011.41 $41,211.27 $24,182.07 $2,688.00 $1,032.00 $32,894.00 $44,300.00 $257.00 $18,000.00 $1,130.00 $500.00 $13,211.19 $0.00 $3,420.00 $5,865.69 $971,702.63 $939,613.70 $1,268,478.48 $1,775,869.88 $2,486,217.84 $49,453.35 $66,762.03 $93,466.84 $130,853.57 $21,763.86 $26,116.64 $23,504.97 $21,154.47 $2,688.00 $2,688.00 $2,688.00 $2,688.00 $1,032.00 $1,032.00 $1,032.00 $1,032.00 $32,894.00 $32,894.00 $32,894.00 $32,894.00 $44,300.00 $44,300.00 $44,300.00 $44,300.00 $257.00 $257.00 $257.00 $257.00 $18,000.00 $18,000.00 $18,000.00 $18,000.00 $1,130.00 $1,130.00 $1,130.00 $1,130.00 $500.00 $500.00 $500.00 $500.00 $13,211.19 $13,211.19 $13,211.19 $13,211.19 $0.00 $13,770.00 $13,770.00 $13,770.00 $3,420.00 $3,420.00 $3,420.00 $3,420.00 $1,128,263.10 $1,492,559.34 $2,024,043.88 $2,769,428.07 Non Current Assets Office Equipment & Furniture Electronics Less: Accumulated Depreciation Net Office Equipment & Electronics $15,810.50 $3,404.89 -$2,882.31 $16,333.08 $13,438.92 $2,894.16 -$2,882.31 $13,450.77 $11,067.34 $2,383.43 $2,882.31 $10,568.46 $8,695.76 $1,872.70 -$2,882.31 $7,686.15 $6,324.18 $1,361.97 -$2,882.31 $4,803.84 Total Non Current Assets $16,333.08 $13,450.77 $10,568.46 $7,686.15 $4,803.84 Total Assets $988,035.71 $1,141,713.87 $1,503,127.80 $2,031,730.03 $2,774,231.91 Liabilities Current Liabilities Accounts Payable and Accrued Expenses Product Owed to Kickstarter Interest Payable Long-term Debt (Angel Investor) Total Current Liabilities $177,610.20 $0.00 $10,008.85 $200,177.00 $187,619.05 $188,691.36 $0.00 $10,008.85 $150,132.75 $198,700.21 $414,661.54 $0.00 $10,008.85 $100,088.50 $424,670.39 $485,586.95 $0.00 $10,008.85 $50,044.25 $495,595.80 $584,882.53 $0.00 $10,008.85 $0.00 $594,891.38 Total Liabilities $387,796.05 $348,832.96 $524,758.89 $545,640.05 $594,891.38 Equity Capital Contributtion from Founders Equity from Crowdfunding Retained Earnings (Loss) $100,000.00 $0.00 $500,239.66 $100,000.00 0 599823.91 $100,000.00 0 685520.8 $100,000.00 0 1085455.05 $100,000.00 0 1655522.51 Total Equity $600,239.66 $699,823.91 $785,520.80 $1,185,455.05 $1,755,522.51 Total Liabilities & Equity $988,035.71 $1,048,656.87 $1,310,279.69 $1,731,095.10 $2,350,413.89 93057 192,488.11 300,534.93
