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Confused on this, as I do not see sales - cost unless it is the total income it is giving Assets 2007 2008 Cash $
Confused on this, as I do not see sales - cost unless it is the total income it is giving
Assets | 2007 | 2008 |
Cash | $ 13,221 | $ 11,729 |
Accounts receivables | 31,323 | 37,909 |
Inventory | 77,244 | 91,617 |
Total current assets | $121,788 | $141,255 |
Net fixed assets | 344,712 | 390,836 |
Total assets | $466,500 | $532,091 |
Liabilities and Stockholders' Equity
Accounts payable | $ 38,549 | $ 42,881 |
Notes payable | 12,004 | 16,753 |
Deferred taxes | 21,934 | 16,788 |
Total current liabilities | $ 72,487 | $ 76,422 |
Long-term debt | 78,445 | 61,290 |
Common stock | 125,000 | 175,000 |
Retained earnings | 190,568 | 219,379 |
Total liabilities and stockholders' equity | $466,500 | $532,091 |
The company had a net income of $248,462, and depreciation expenses were equal to $72,487.
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