CREATE A BALANCE SHEET

For year ending 12/31/2017

Company name is Peters Pumpkin Patch

Total expenses are $65,000; taxes paid are $20,000; sales are $600,000, cost of goods sold are $200,000; interest expense is $24,000.

Please correctly show operating income, net income, earnings before taxes, earnings before interest and taxes.

Create a Balance Sheet for the company on the last day of the year.

Cash $120,000

Accounts receivable $500,000

Land $500,000

Equipment $250,00

Deprecition $50,000

Bank line of credit (used) $100,000

Mortgage on land $200,000

Common Equity ?

No Preferred Equity Total Current Assets ?

Total Non Current Assets ?

Total Assets ?

Total Debt ?