July 31, 2020
	Adjusted
	Trial Balance
Account Title	Dr.	Cr.
Cash	334,504.00
Accounts Receivable, net	533,086.00
Merchandise Inventory, net	449,397.00
Office Supplies	5,689.00
Prepaid Insurance	15,400.00
Investments - Equity Trading (Temporary)	120,000.00
Investments - HTM Long Term	35,400.00
Investments - Equity Long Term	80,000.00
Valuation Allowance	52,000.00
Land	1,550,000.00
Building	1,200,000.00
Accumulated Depreciation - Building		750,000.00
Equipment	85,000.00
Accumulated Depreciation - Equipment		68,000.00
Office Furniture	14,000.00
Accumulated Depreciation - Office Furniture		12,000.00
Accounts Payable		680,980.00
Wages Payable
Interest Payable
Dividends Payable
Unearned Rent		10,000.00
Customer Refunds Payable		18,795.00
Notes Payable - Long Term		650,000.00
Bonds Payable		1,300,000.00
Premium on Bonds Payable		56,000.00
Discount on Bonds Payable	16,000.00
Mortgage (Warehouse) Payable		300,000.00
Common Stock, $1 Par, 100,000 Authorized; 50,000 shares Issued/Outstanding		50,000.00
Paid In Capital - Excess of Par, Common Stock		347,575.25
Retained Earnings		324,582.75
Cash Dividends	250,000.00
Treasury Stock	50,000.00
Sales		4,256,800.00
Cost of Goods Sold	1,485,698.00
Wage Expense (hourly workers)	756,894.00
Salaries Expense (Exempt Staff)	800,000.00
Marketing Expense	295,000.00
Travel and Entertainment Expense	56,789.00
Bad Debt Expense	42,185.00
Property Tax Expense	500,000.00
Office Maintenance & Repair Expense	2,000.00
Accounting Expenses	10,000.00
Insurance Expense	12,000.00
Utilities Expense	65,450.00
Office Supplies Expense	546.00
Telecommunications Expense	5,425.00
Depreciation Expense - Building	30,000.00
Depreciation Expense - Equipment	8,500.00
Depreciation Expense - Office Furniture	2,000.00
Rent Income		8,000.00
Unrealized Gain - Trading Securities		5,500.00
Realized Gain - Investment Securities		85,460.00
Interest Expense	25,000.00
Unrealized Loss - Trading Securities	2,500.00
Realized Loss - Investment Securities	33,230.00
Total	8,923,693.00	8,923,693.00
Total Expenses and Revenue	4,133,217.00	4,355,760.00
Net Income (Loss)	222,543.00

Davenport Docking Corporation	7/31/2020
Sales Revenue
Sales	4,256,800.00
Cost of Goods Sold	1,485,698.00
Gross Profit	2,771,102.00
Operating Expenses
Wage Expense (hourly workers)	756,894.00
Salaries Expense (Exempt Staff)	800,000.00
Marketing Expense	295,000.00
Travel and Entertainment Expense	56,789.00
Bad Debt Expense	42,185.00
Property Tax Expense	500,000.00
Office Maintenance & Repair Expense	2,000.00
Accounting Expenses	10,000.00
Insurance Expense	12,000.00
Utilities Expense	65,450.00
Office Supplies Expense	546.00
Telecommunications Expense	5,425.00
Depreciation Expense - Building	30,000.00
Depreciation Expense - Equipment	8,500.00
Depreciation Expense - Office Furniture	2,000.00
Total Operating Expenses	2,586,789.00
Income from Operations (EBIT)	184,313.00
Other Revenues and Gains
Rent Income	8,000.00
Unrealized Gain - Trading Securities	5,500.00
Realized Gain - Investment Securities	85,460.00
Total Other Revenue and Gains	98,960.00
Other Expenses and Losses
Interest Expense	25,000.00
Unrealized Loss - Trading Securities	2,500.00
Realized Loss - Investment Securities	33,230.00
Total Other Expenses and Losses	60,730.00
Net Income (Loss)	222,543.00
Common Dividends	250,000
Weighted Average Common Shares	50,000
Market Price per Common Share	45.00

ASSETS
Current assets
Cash	334,504.00
Accounts Receivable, net	533,086.00
Merchandise Inventory, net	449,397.00
Office Supplies	5,689.00
Prepaid Insurance	15,400.00
Investments - Equity Trading (Temporary)	120,000.00
Total Current Assets	1,458,076.00
Property, plant & equipment
Land	1,550,000.00
Building	1,200,000.00
Accumulated Depreciation - Building	(750,000.00)
Equipment	85,000.00
Accumulated Depreciation - Equipment	(68,000.00)
Office Furniture	14,000.00
Accumulated Depreciation - Office Furniture	(12,000.00)
Total Property, plant & equipment	2,019,000.00
Other Assets
Investments - HTM Long Term	35,400.00
Investments - Equity Long Term	80,000.00
Valuation Allowance	52,000.00
Total Other Assets	167,400.00
Total Assets	3,644,476.00
LIABILITIES & STOCKHOLDER'S EQUITY
LIABILITIES
Current Liabilities
Accounts Payable	680,980.00
Unearned Rent	10,000.00
Customer Refunds Payable	18,795.00
Total Current Liabilities	709,775.00
Long-term Liabilities
Notes Payable - Long Term	650,000.00
Bonds Payable	1,300,000.00
Premium on Bonds Payable	56,000.00
Discount on Bonds Payable	(16,000.00)
Mortgage (Warehouse) Payable	300,000.00
Total Long-term Liabilities	2,290,000.00
Total Liabilities	2,999,775.00
STOCKHOLDER'S EQUITY
Common Stock, $1 Par, 100,000 Authorized; 50,000 shares Issued/Outstanding	50,000.00
Paid In Capital - Excess of Par, Common Stock	347,575.25
Treasury Stock	(50,000.00)
Cash Dividends	(250,000.00)
Ending Retained Earnings	547,125.75
Total Stockholder's Equity	644,701.00
Total Liabilities and Stockholder's Equity	3,644,476.00
TOTAL ASSETS	3,644,476.00
TOTAL LIAB & EQUITY	3,644,476.00
VARIANCE	-

	7/31/2020
Liquidity
Current Ratio	2.05
Current Assets	1,458,076
Current Liabilities	709,775
Quick Ratio
Accounts Receivable Turnover
Inventory Turnover
Profitability
Times Interest Earned
Asset Turnover
Return on Assets
Return on Common Shareholders' Equity
Earnings per Share (EPS)
Price-Earnings (P/E ) Ratio
Dividends per Share
Solvency Ratios
Ratio of Liabilities to Stockholder's Equity
	7/31/2020
Common Dividends	250,000
Weighted Average Common Shares	50,000
Market Price per Share	45