CREATE INCOME STATEMENT USING FOLLOWING INFORMATION

APPENDIX A MARY'S SUNSHINE POOL INCORPORATED BALANCE SHEET June 30 (YEAR OF AUTOMATION) Assets Current Assets Cash $93,829.00 Accounts Receivable $83,983.00 Less: Allow. Dbtful Accts $(1,152.00) Merchandise Inventory $54,629.00 Office Supplies $840.00 Prepaid Insurance $1,650.00 Total Current Assets $233.779.00 Property and Equipment Land $50,000.00 Buildings $140,000.00 Less: Accum. Denr. $(28,000.00) Office Equipment $15,570.00 Less: Accum. Dent $(11,720.00) Vehicles $42,100.00 Less: Accum. Dent $(16,300.00) Total Property and Equipment $191.650.00 Total Assets $425.429.00 Liabilities & Owner's Equity Current Liabilities Accounts Payable $30,300.00 Note Payable $54,000.00 Mortgage Note Payable (current $7,000.00 portion) Total Current Liabilities $91.300.00 Long-Term Liabilities Mortgage Note Payable $82,600.00 Total Liabilities $173.900.00 Stockholder's Equity Common Stock $251,529.00 Total Liabilities and Owner's Equity $425.429.00APPENDIX B MARY'S SUNSHINE POOL INCORPORATED ACCOUNTS RECEIVABLE DATA FROM SUBSIDIARY LEDGER JUNE 30 (YEAR OF AUTOMATION) Customer Invoice Date Balance number Hill Township 2288 5/1/PRYR $7.474.00 Cobb YMCA 2438 5/15/PRYR $6,900.00 Girl's Camp 2440 5/21/PRYR $7,836.00 Valley and Hill Park 2446 5/31/PRYR $5,000.00 Cobb County Parks and Recreation 2450 6/1/PRYR $2,863.00 Workout Pool and Spa 2525 6/5/PRYR $5,700.00 Marietta City School System 2526 6/6/PRYR $8,316.00 Hill and Dell Housing Development 2598 6/8/PRYR $7,516.00 Park for Kids and Adults 2621 6/10/PRYR $3,500.00 WatershinDown, Township 2651 6/15/PRYR $4,881.00 Chumming YWCA 2655 6/21/PRYR $7,296.00 Forsyth County School System 2662 6/22/PRYR $5,064.00 Cobb Community College 2777 6/25/PRYR $6,137.00 Fulton County Parks and Recreation 2788 6/26/PRYR $2,300.00 Water Park Resorts 2790 6/30/PRYR $3,200.00 TOTAL ACCOUNTS RECEIVABLE $83.983.00 Terms are 2/10, net/30 for all customers Aside: Add appropriate data such as an address and phone number for the first 3 customers.APPENDIX C MARY'S SUNSHINE POOL INCORPORATED ACCOUNTS PAYABLE DATA FROM SUBSIDIARY LEDGER JUNE 30 (YEAR OF AUTOMATION) 3778:: 06:0er $ 400.00 061300;); $ 1200.00 John's Sn. .1 06330901 -. 6200.00 Cool Pool 301105 061'081'XX $ 3 400.00 0633000: $ 1600.00 TOTAL ACCOUNTS PAYABLE $30 300.00 Aside: Add appropriate data Such as an address and phone number for the rst 3 vendors. APPENDIX D MARY'S SUNSHINE POOL INCORPORATED INVENTORY DATA FROM SUBSIDIARY LEDGER JUNE 30 (YEAR OF AUTOMATION) Item Preferred Quantity ROP'| ROO Avg. Unit Total Vendor on Hand Unit Sales Cost Price Chem. Pool Fennell 25,000 500 1000 $0.80 $2.00 $20,000.00 treatment Chemicals lbs 16'x20'x8' vinyl Major Pool 8 ea 5 10 $325.00 $750.00 $2,600.00 liner Supply 24'x20'x10' liner Major Pool 4 ea 2 4 $400.00 $800.00 $1,600.00 Supply 8' diving board Major Pool 13 ea 5 5 $98.00 $200.00 $1,274.00 Supply 16' pool rope Major Pool 50 ea 5 10 $25.00 $50.00 $1,250.00 Supply 20' pool rope Major Pool 65 ea 15 10 $30.00 $60.00 $1,950.00 Supply Poolside lounger Cool Pool 14 ea 10 10 $40.00 $100.00 $560.00 Supplies Table w/umbrella Cool Pool 40 ea 20 20 $525.00 $800.00 $21,000.00 Supplies Water volleyball Cool Pool 20 ea 5 10 $18.75 $30.00 $375.00 sets Supplies Pump valves Alcoa Service 1,005 ea 50 100 $4.00 $8.00 $4,020.00 TOTAL $54,629.00 INVENTORY 1 ROP = Reorder Point 2 ROQ = Reorder QuantityAPPENDIX E TRANSACTIONS LIST Purchases/Cash Disbursements July 1, Created a purchase order for 170 Poolside loungers for $37.50, 100 Tables with umbrellas for $500.00 and 40 Water volleyball sets for $15.00. July 1, Created a purchase order for 15 16'x20'x8' vinyl liners for $300.00, 25 24'x20'x10' liners for $390.00, 20 8' diving boards for $90, 100 16' pool ropes for $20.00 and 50 20' pool ropes for $25.00 July 3, Record the purchase of the new computer system. It was purchased at Computer World for $10,500 including sales tax. This amount should be charged to a Computer Equipment account. $2100 is paid on delivery and a no interest note is signed for two installments one on 12/31/ CRYR and the second 12/31, a year later. July 6, Received goods from Cool Pool as ordered on July 1. July 7, Received goods from Major Pool as ordered on July 1. July 14, Created a purchase order for 40 long pool ropes @$30.00 and 40 short pool ropes @$25.00. July 21, Prepared checks for the following bills: Invoice Number Account Vendor Amount WS500 Water and Sewage City Overchargers 291.50 BSM 541 Mobile phone bill Mobilerus 120.45 49800 Telephone Independent Bell 139.51 U122 Utilities GA Utilities 210.65 7888 Freight Expense Mundane Shipping 3270.25 July 22, Created a purchase order for 125 Tables with umbrellas at $480 and 25 poolside loungers at $35. July 23, Received goods from Major Pool as ordered on July 14 July 26, Received goods from Cool Pool as ordered on July 22. July 31, Record payroll (for July 31). See report from PPP (Appendix F) July 31, Pay PPP for payroll services at 10% of gross salaries.Sales/Cash Receipts July 2, Sold 30 16' pool ropes, 1 diving board, 35 tables with umbrellas and 2 water volleyball sets to Hill Township at list price. July 3, Sold 2000 1bs Chem. Pool treatment, 1 16'x20'x8' vinyl liner and 45 Pump valves to Water Park Resorts at list price July 3, Sold 2 8' diving boards, 36 20' pool ropes, 10 Poolside loungers, 4 Tables w/umbrellas and 3 Water volleyball sets to Fulton County Parks and Recreation at 2% discount from list price. July 7, Sold 1000 lbs Chem. Pool treatment to Cobb County Parks and Recreation at 2% less than list price. July 8, Sold 1 24'x20'x10' liners, 2 8' diving boards, 30 16' pool ropes and 20 Pump valves at list to Park for Kids and adults. July 9, Sold 1 8' diving board, 20 20' pool ropes, 30 Poolside loungers, 20 Tables w/umbrellas and 2 Water volleyball sets to Hill and Dell Housing Development at list price. July 10, Sold 1 24'x20'x10' liners, 16 20' pool ropes, 30 Poolside loungers and 15 Tables w/umbrellas to Workout Pool and Spa at list price. July 11, Received check 123 from Hill Township to pay for the goods purchased on July 2. Included in this check as $2,000 to be applied to the remainder of their balance due. July 15, Sold 1 24'x20'x10' liners, 16 20' pool ropes, 25 pump valves and 2000 1bs of chemical treatment to Cobb Community College at 2% discount from list price. July 16, Received check number 4455 from Valley and Hill Park to pay their balance in full. July 17, Sold 20 20' pool ropes, 28 Poolside loungers, 18 Tables w/umbrellas and 600 1bs of chemical treatment to Cobb YMCA at list price July 18, Fulton County returned 4 tables and 5 loungers from their purchase on July 3. July 18, Received check number 340 from WatershipDown Township to pay their balance due in full. July 19, Sold 2 diving boards, 5 20' pool ropes, 25 Poolside loungers, 15 Tables w/umbrellas and 1500 1bs of chemical treatment to Chumming YWCA at list price. July 20, Received payment from Cobb YMCA for shipment on July 17th. Check number 45667. July 28, Received payment from Water Park Resorts for shipment on July 3 on check number 7891. Also, included in this check is $1,500 for payment on the previous balance due. July 28, Received payment on balance due from Forsyth County Schools. Check number 33221. July 29, Return received from Cobb County Community College of 4 pool ropes from their purchase on July 15. July 30, Sold 5000 lbs of chemical treatment and 100 pump valves to Cobb County Parks and Recreation at a 2% discount. July 31, Sold 30 tables w/umbrellas and 75 poolside loungers to Workout Pool and Spa. 13Adjustments and other miscellaneous transactions July 31, Adjusting entries for July are as follows: 1. Sold one vehicle for $1?,5 00. The vehicle's original cost was $17,5 00 and its accumulated depreciation was $6,000 at the time of the sale. 2. Depreciation on the showroomfoice building and the distribution center Per your building (average life is 10 years, no salvage value, straight line depreciation) calculation 3. Depreciation on the ofce equipment (average life is 5 years, no salvage Per your value, straight line depreciation) calculation 4. Depreciation on the vehicles (average life is 8 years, no salvage value, Per your straight line depreciation) calculation 5. Depreciation on the new computer Per your Mary's Sunshine wants to use straight-line depreciation with a 3-year life and no calculation salvage value. 6. Accrued interest expense on the mortgage $626.26 7. Expired insurance (Liei policy) Per your calculation . Ofce supplies remaining $3 10 9. Bad Debt Expense .5 % of credit sales 10. Bank Service Charges $55.00 11. Estimate and accrue Corporate income Tax expense at 15% Per your calculation July 31, Analyze inventory requirements to determine products under or over stocked. Create purchase orders for products below the re-order point. July 31, Print monthly statements to customers. APPENDIX F REPORT FROM PPP FOR 7/31 PAYROLL Payroll checks created: Name Gross Salary Federal Social State Medical Retirement Charitable Net Pay Income Security Income Insurance Contribs Tax (FICA) Tax Lauren Allen $1,500.00 $ 225.00 $ 90.00 $ 75.00 $ 57.32 $ 300.00 $ 25.00 $ 727.68 Paul Barton $1,800.00 $ 396.00 $ 108.00 $ 90.00 $ 57.32 $ 500.00 $ 25.00 $623.68 Ernest Callahan $1,800.00 $ 396.00 $ 108.00 $ 90.00 $ 57.32 $ 300.00 $848.68 Ted Hill $ 800.00 $ 56.00 $ 48.00 $ 40.00 $ 57.32 $ 598.68 Fred Hill $ 800.00 $ 56.00 $ 48.00 $ 40.00 $ 57.32 $ 598.68 $6,700.00 $1129.00 $402.00 $335.00 $286.60 $1100.00 $50.00 $3397.40 Employer contributions and payroll taxes remitted: Name Social Medical Retirement FUTA SUTA Total Security Insurance (FICA) Lauren Allen $ 90.00 $ 57.32 $ 300.00 $447.32 Paul Barton $ 108.00 $ 57.32 $ 500.00 $665.32 Ernest Callahan $ 108.00 $ 57.32 $ 300.00 $465.32 Ted Hill $ 48.00 $ 57.32 0 $ 6.40 $ 21.60 $133.32 Fred Hill $ 48.00 $ 57.32 0 $ 6.40 $ 21.60 $133.32 $402.00 $286.60 $1100.00 $12.80 $43.20 $1844.60 15