Instructor's Tip: Total Asset $1,238,692 Current Asset $286,709. Retained Earninigs $53,655

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Tutoring Description GeneralProducts Inc is incorporated in Nevada, USA on Jan 1st 2013 to take over a local retail chain. The objective of the company s to everyday use to customers at the most compettive prices GeneralProducts has established a chain of stores throughout company are so designed that customers can shop seamlessly in stores and online You may use the attached Balanc o and the financial data for 2016.The same information is provided below Balance Sheet of GeneralProducts Inc. on December 31, 2015 ASSETS Cash and Cash Equivalent 11,980 20,520 317,060 Inventory of Premiums (@0.10 per premium) LONG TERM ASSETS 66 775 Investments Property Plant and Equipment Less Accu Total Long Term Assets INTANGIBLE ASSETS Trade Marks Total Assets LIABILITIES AND SHAREHOLDERS EQUITY 750 000 90,000 660,000 Depr 26.775 190,000 1,266,995