NCOME STATEMENT

AIR CARE SERVICES

January 1 to March 31, 2024

Revenue

4000

GENERAL REVENUE

4100

Installation Revenue

$ 82 500

4140

Service Contract Revenue

9 900

4160

Subcontracting Revenue

21 000

4180

Sales Discounts

800

4200

Interest Revenue

525

4290

TOTAL REVENUE

$113 125

TOTAL REVENUE

$113 125

Expenses

5000

OPERATING EXPENSES

5010

Bank Charges

$ 225

5020

Credit Card Fees

590

5040

Purchase Discounts

300

5060

Hydro Expense

750

5070

Maintenance Services

1 365

5110

Computer Supplies Used

1 200

5120

Office Supplies Used

1 150

5150

Solar Panels Used

36 000

5160

Inverters Used

16 000

5180

Insurance Expense

3 600

5190

Telephone Expense

400

5200

Loan Interest Expense

625

5210

Mortgage Interest Expense

2 400

5290

TOTAL OPERATING EXPENSES

$64 005

5300

PAYROLL EXPENSES [H]

5320

Wages

12 000

5340

Payroll Service Charges

330

5390

TOTAL PAYROLL EXPENSES

$12 330

TOTAL EXPENSE

$76 335

NET INCOME (LOSS)

$36 790

BALANCE SHEET

AIR CARE SERVICES

March 31, 2024

Assets

1000

CURRENT ASSETS

1060

Bank: Chequing

$ 34 660

1070

Bank: Visa

1 950

1080

Bank: MasterCard

1 060

1100

Net Bank

$ 37 670

1200

Accounts Receivable

24 200

1210

Prepaid Insurance

3 800

1300

Solar Panels

28 280

1310

Inverters

33 420

1320

Electrical Supplies

6 100

1340

Office Supplies

400

1390

TOTAL CURRENT ASSETS

$ 133 870

1400

OFFICE & EQUIPMENT

1440

Computer System

10 500

1460

Service Equipment

10 000

1480

Tools

3 000

1500

Van

31 000

1550

Shop

110 000

1590

TOTAL SHOP & EQUIPMENT

$164 500

TOTAL ASSETS

$298 370

Liabilities

2000

CURRENT LIABILITIES

2100

Bank Loan

$ 25 000

2160

Credit Card Payable

1 010

2200

Accounts Payable

20 100

2640

PST Payable

1 530

2650

GST Charged on Sales

$1 530

2670

GST Paid on Purchases

840

2750

GST Owing (Refund)

690

2790

TOTAL CURRENT LIABILITIES

$ 48 330

2800

LONG TERM LIABILITIES

2850

Mortgage Payable

80 000

2890

TOTAL LONG TERM LIABILITIES

$ 80 000

TOTAL LIABILITIES

$ 128 330

Equity

3000

OWNERS EQUITY

3560

S. Arturro, Capital

$ 133 250

3650

Net Income

36 790

3690

UPDATED CAPITAL

$ 170 040

TOTAL EQUITY

$ 170 040

LIABILITIES AND EQUITY

$298 $70

TRIAL BALANCE

AIR CARE SERVICES

March 31, 2024

Debit

Credit

1060

Bank: Chequing

$ 34 660

1070

Bank: Visa

1 950

1080

Bank: MasterCard

1 060

1200

Accounts Receivable

24 200

1210

Prepaid Insurance

3 800

1300

Solar Panels

28 280

1310

Inverters

33 420

1320

Electrical Supplies

6 100

1340

Office Supplies

400

1440

Computer System

10 500

1460

Service Equipment

10 000

1480

Tools

3 000

1500

Van

31 000

1550

Shop

110 000

2100

Bank Loan

$ 25 000

2160

Credit Card Payable

1 010

2200

Accounts Payable

20 100

2640

PST Payable

1 530

2650

GST Charged on Sales

1 530

2670

GST Paid on Purchases

840

2850

Mortgage Payable

80 000 3560

S. Arturro, Capital

$133 250

4100

Installation Revenue

82 500

4140

Service Contract Revenue

9 900

4160

Subcontracting Revenue

21 000

4180

Sales Discounts

$ 800

4200

Interest Revenue

525

5010

Bank Charges

225

5020

Credit Card Fees

590

5040

Purchase Discounts

300

5060

Hydro Expense

750

5070

Maintenance Services

1 365

5110

Computer Supplies Used

1 200

5120

Office Supplies Used

1 150

5150

Solar Panels Used

36 000

5160

Inverters Used

16 000

5180

Insurance Expense

3 600

5190

Telephone Expense

400

5200

Loan Interest Expense

625

5210

Mortgage Interest Expense

2 400

5320

Wages

12 000

5340

Payroll Service Charges

330

$376 645

$376 645

SUPPLIER INFORMATION

AIR CARE SERVICES

Supplier Name (Contact)

Address

Phone No. Fax No.

Email Website Tax ID

Terms Account

YTH Purchases (Pre- & Post-Tax Payments) Tax Code

Beausejour Electrical Products

(Janine Beausejour)

50 Shockley Rd., Unit 18

Regina, Saskatchewan S4F 2T2

Tel 1: (306) 476-5282

Tel 2: (306) 476-3997

Fax: (306) 476-5110

jb@beausejour.com

beausejour.com

444 276 539 RT0001

1/10, n/30

(before tax)

1320

$2 100

($2 000 & $2 100)

G

Green Earth Products Inc.

(Ezra Green)

2 Greening St.

Regina, Saskatchewan S4F 9J9

Tel: (306) 475-6432

Fax: (306) 475-8600

egreen@greenearth.com

greenearth.com

177 235 447 RT0001

1/10, n/30

(before tax)

1310

G

Killarney Solar Equipment

(Kieper Warme)

91 Radiation St.

Regina, Saskatchewan S4B 4F4

Tel: (306) 363-0210

Fax: (306) 363-2000

kw@heatexchange.com

heatexchange.com

571 277 631 RT0001

1/5, n/30

(before tax)

1300

G

*Receiver General for Canada

Sudbury Tax Services Office

PO Box 20004

Sudbury, Ontario P3A 6B4

Tel 1: (800) 561-7761

Tel 2: (800) 959-2221

canada.ca/en/revenue-agency

net 1

($790 & $790)

No tax

*Saskatchewan Energy Corp.

(Kira Strong)

50 Watts Rd.

Regina, Saskatchewan S4G 5K8

Tel 1: (306) 755-6000

Tel 2: (306) 755-3997

Fax: (306) 754-7201

accounts@seg.ca

seg.ca

459 021 648 RT0001

net 10

5060

$840

($800 & $840)

G

*Saskatel

(Sotto Voce)

4 Speakers Corners

Regina, Saskatchewan S4L 4G2

Tel: (306) 361-3255

accounts@saskatel.ca

saskatel.ca

492 304 597 RT0001

net 10

5190

$666

($600 & $666)

GP

Starbuck Advertising Agency

(Pam Fletts)

300 Flyer St.

Suite 800

Regina, Saskatchewan S4B 1C6

Tel: (306) 361-1727

Fax: (306) 361-8229

pfletts@saa.com

saa.com

610 728 362 RT0001

net 10

$1 110

($1 000 & $1 110)

GP

Wheatfields Hardware

(Nutley Bolter)

72 Hammer St.

Regina, Saskatchewan S4P 1B8

Tel 1: (306) 369-0808

Tel 2: (306) 369-6222

nbolter@yahoo.com

385 416 821 RT0001

net 15

1480

$999

($900 & $999)

GP

Willow Garage

(Axel Rodd)

699 Willow St.

Regina, Saskatchewan S4P 1B3

Tel 1: (306) 368-6444

Tel 2: (306) 368-6000

axel@wefixcars.com

wefixcars.com

129 732 012 RT0001

net 30

$444

($400 & $444)

GP

NOTES: *For Receiver General, Saskatchewan Energy Corp. and Saskatel, Cheque is the default payment method for invoices. For all other suppliers, Pay Later is the default.

OUTSTANDING SUPPLIER INVOICES

AIR CARE SERVICES

Supplier Name

Terms

Date

Inv/Chq No.

Amount

Tax

Total

Beausejour Electrical Products

1/10, n/30 (before tax)

Mar. 26/24

B-894

$10 000

$500

$10 500

Mar. 26/24

Chq 94

4 500

1/10, n/30 (before tax)

Mar. 28/24

B-921

2 000

100

2 100

Balance owing

$8 100

Killarney Solar Equipment

1/5, n/30 (before tax)

Mar. 25/24

KS-1031

$20 000

1 000

$21 000

Mar. 28/24

Chq 96

5 200

Mar. 31/24

Chq 98

9 900

Balance owing

$5 900

Grand Total

$14 000