HI please prepare the balance sheet
APPENDIX 2 TRIAL BALANCE Cash - operating account Cash - savings account Petty cash Cash store locations Trade receivables - stores Trade receivables - wholesale Allowance for doubtful accounts Miscellaneous receivables HST receivable Inventory Goods in transit Allowance for inventory obsolescence Amounts receivable from parent Prepaid rent Prepaid insurance Other prepaid expense Furniture and equipment Accumulated depreciation - furniture and equipment Leasehold improvements Accumulated depreciation - leasehold improvements Trade payables Accrued bonuses Sales commissions payable Other accrued expenses Inter-company payables Accrued vacation payable Loyalty program provision Provision for current tax liabilities Warranty provision Long-term debt Provision for deferred tax liabilities Share capital Retained defecit Revenue - stores Revenue - wholesale Interest from bank Foreign exchange gain/loss CLOUD 9 LTD. December 31, 2018 DR CR 220,985 70,509 500 1,000 248,528 12,835,832 459,850 49,808 35,985 8,112,483 545,733 508,888 557,281 334,808 844,158 80,382 2,121,907 1,282,288 1,523,548 402,818 2,738,941 484,844 478,353 2,389,184 884,087 183,899 88,980 191,535 100,783 10,245,425 203,052 8,428,027 2,134,999 1,288,928 55,028,538 71,284 51,828 December 31, 2017 DR CR 495,032 1,323,810 500 13,117,217 587,390 82,805 53,292 7,333,555 892,159 829,824 578,787 245,039 510,124 44,102 1,317,948 909,549 888,782 251,803 1,458,283 350,000 499,487 1,444,184 593,233 134,324 249,472 102,718 11,472,289 204,340 8,285,232 442,743 51,057,288 128,107 35,481 Proceeds on disposals Other revenue Cost of goods sold - stores TRIAL BALANCE Cost of goods sold - wholesale Salaries and employee benefits Storage - rent expense, store Storage - rent expense, warehouse Distribution expenses Telephone Computer and IT costs Advertising and promotion print Trade shows Advertising and promotion - TV Advertising and promotion - sponsorships Rent expense - office Bad debt expense Depreciation - furniture and equipment Depreciation - leasehold improvements Entertainment Professional fees Insurance expense Recruitment Interest expense - loan from bank Income tax expense 734,491 304,517 CLOUD 9 LTD. December 31, 2018 DR 29,881,756 5,881,939 157,013 3,416,655 2,311,745 109,057 293,093 2,295,825 342,100 2,043,701 1,928,053 354,888 89,917 803,329 231,068 250,076 357,069 3,057,412 381,980 1,172,480 83,589,629 DRAFT STATEMENT OF INCOME December 31,2018 Revenue Cost of goods sold Gross profit Other expenses Income (loss) from operations Other income 56,315,466 30,616,247 25,699,219 25,477,380 221 ,839 427,629 CR 83,589,629 9,256 295,827 December 31, 2017 DR 24,590,091 11,265,988 3,403,146 2,309,217 343,370 1,203,668 442,674 571,545 355,546 138,000 390,830 110,775 368,808 527,738 1,837,082 341,769 806,812 567,111 76,657,825 CR 76,657,825 Income (loss) before taxes 649,468 Income tax expense Net income (loss) 649,468
