Monthly Income $45,000.00 1. Create Profit and Loss and Balance Sheet Statements Building Purchase $310,000.00 1/1/2020 2. What is your net income? 50.00 Electric $475.00 Monthly S. What is your equity? 50.00 Equipment Purchase $50,000.00 1/1/2020 4. What is the difference between your net income and your actual checkbook balance at month's end? Operating Supplies $2,400.00 Monthly Net Income $0.00 Depreciation $1,709.02 Monthly Check Register Balance Accumulated Depreciation $20,508.24 12/31/2020 Difference $0.00 Building insurance $650.00 Monthly Mortgage Payment $1,800.00 Monthly Business Car Purchase $65,000.00 6/1/2020 Depreciation Year Software Subscription $350.00 Monthly Building $7,948.72 Start Up Loan $150,000.00 12/31/2019 Vehicle $5,416.67 5 Start Up Loan pmt 5825.00 Monthly Equipment $7,142.85 Equipment payment $1,200.00 Monthly Vehicle Fuel $350.00 Monthly Amortization Year Liability Insurance $375.00 Monthly StartUp Costs $4,666.67 First year, $5000 expensed and rest is amortized over 15 years Car Insurance $250.00 Monthly Amortization $388.89 Monthly Legal and Prof Fees $175.00 Monthly Billing Services $225.00 Monthly Car Payment $750.00 Monthly 25 Savings Account Balance $45,000.00 12/31/2020 This is money transferred from checking. Keep that in mind for year end checking account balance Wages $15,000.00 Monthly Payroll Liabilities $4,750.00 12/31/2020 28 Additional Paid In Capital 60.00 Personal monies put in to company by owner 29 Cable/Internet $210.00 Monthly 30 Trash Removal $65.00 Monthly Repairs Maint $185.00 Monthly 32 Accumulated Amortization $4,666.67 12/31/2020 83 Start Up Costs $5,000.00 34