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Hoboken Cobbler Inc Balance Sheet Year End December 31 Assets 2020 2021 Cash (B) (D) Accounts Receivable 1,830 1,852 Allowance for Uncollectible Accounts (183)
Hoboken Cobbler Inc Balance Sheet Year End December 31 Assets 2020 2021 Cash (B) (D) Accounts Receivable 1,830 1,852 Allowance for Uncollectible Accounts (183) (G) Prepaid Rent 258 369 Inventory 3,423 2,512 PPE, Gross 73,234 76,734 Accumulated Depreciation (20,000) (F) Total Assets (A) N/A Liabilities Hoboken Cobbler Inc Income Statement Year End December 31 Revenues Cost of sales Gross margin 2020 44,204 2021 52,656 (34,209) (35.843) 9,995 16,813 Wage expenses (4,532) (3.245) Depreciation Expense Other expenses (1,364) (1.058) Net income (1,521) (8.318) 2,578 4.192 Accounts Payable 4,024 3,190 Hoboken Cobbler Inc Notes Payable 12,000 12,000 Cash Flow Statement Year End December 31 Unearned Revenues 4,365 5.689 2020 2021 Total Liabilities 20.389 20.879 Cash From Operations 3,128 6,520 Cash From Investing (2,000) (C) Shareholders' Equity Contributed Capital 45,000 N/A Cash From Financing Change In Cash (1,500) (2,000) (372) N/A Retained Earnings 2,442 (E) Total Equity 47,442 N/A Total Liabilities and equity N/A N/A Additional information: 1 The business estimates uncollectable accounts based on 10% of accounts receivable 2 The only "financing activity" in the statement of cash flow in both years relates to cash payments of dividends. 3. Cash from "investing activity" in 2021 relates to the purchase of additional equipment in cash. No other equipment was purchased or sold in 2021. 4 The company paid taxes of $1,300 for 2021.
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