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LIABILITIES CURRENT LIABILITIES: Accounts Payable 25,000.00 70,000.00 $ 55 Salaries Payable $ 18,000.00 $ 12,000.00 Accrued liabilities $ 12,000.00 $ 10,000.00 Total Current Liabilities $

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LIABILITIES CURRENT LIABILITIES: Accounts Payable 25,000.00 70,000.00 $ 55 Salaries Payable $ 18,000.00 $ 12,000.00 Accrued liabilities $ 12,000.00 $ 10,000.00 Total Current Liabilities $ 55,000.00 $ 92,000.00 LONG-TERM LIABILITIES; Bonds Payable $ 80,000.00 $ 100,000.00 Notes Payable $ 85,000.00 $ 75,000.00 Total Long-term Liabilities $ 165,000.00 $ 175,000.00 STOCKHOLDERS' EQUITY Common Stock $ 180,000.00 $ 180,000.00 Retained Earnings $ 425,500.00 $ 333,500.00 Total Stockholders' Equity $ 605,500.00 $ 513,500.00 Total Liabilities & Stockholders' Equity $ 825,500.00 $ 780,500.00

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