Oriole Enterprises Balance Sheet and Income Statement Data December 31, 2020 December 31, 2019 Current Assets: Cash $168,300 $130,900 Accounts Receivable 261,800 336,600 Inventory 430,100 374,000 Total Current Assets 860,200 841,500 1,365,100 1,234,200 Property, Plant, and Equipment Less: Accumulated Depreciation (523,600) (486,200) 841,500 748,000 Total Assets $1,701,700 $1,589,500 Current Liabilities: Accounts Payable $205,700 $112,200 56,100 74.800 Notes Payable Income Taxes Payable Total Current Liabilities 93,500 84,150 355,300 271,150 374,000 430,100 Bonds Payable Total Liabilities 729,300 701,250 Stockholders' Equity: Common Stock Retained Earnings 561.000 514,250 411,400 374,000 Total Stockholders' Equity 972,400 888.250 Total Liabilities & Stockholders' Equity 1,701,700 1,589,500 Sales Revenue $1.776,500 $1,664,300 826,100 804,100 Less Cost of Goods Sold Gross Profit Expenses: 950,400 860,200 Depreciation Expense 168,300 149,600 430,100 392,700 Salaries and Wages Expense Interest Expense Loss on Sale of Equipment 37,400 37,400 13,200 0 649,000 579,700 301,400 280,500 Income Before Taxes Less Income Tax Expense 120,560 112,200 Net Income 180,840 168,300 Oriole Enterprises Statement of Cash Flows For the Year Ended December 31, 2020 Cash Flows from Operating Activities Net Income $ 180,840 Adjustments to reconcile net income to Cash Flows from Operating Activities Depreciation Expense $ 168,300 Loss on Sale of Equipment 13,200 Decrease in Accounts Receivable 74800 Increase in Inventory -56100 Decrease in Notes Payable -18700 Increase in Tax Payable 9350 190850 Net Cash Provided by Operating Activities 371690 Cash Flows from Investing Activities Sale of Equipment 24200 Purchase of Equipment -299,200 Net Cash used by Investing Activities -275000 Cash Flows from Financing Activities