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please calculate the net income for 2017. EXHIBIT I (CONTINUED) - FINANCIAL STATEMENTS MAPLE GOLD CORP. (AN EXPLORATION STAGE COMPANY) INCOME STATEMENT AS AT DECEMBER
please calculate the net income for 2017.
EXHIBIT I (CONTINUED) - FINANCIAL STATEMENTS MAPLE GOLD CORP. (AN EXPLORATION STAGE COMPANY) INCOME STATEMENT AS AT DECEMBER 31, 2017, AND 2016 DRAFT AUDITED 2016 2017 $ 4,523 Expenses Accretion of retirement liability Administrative services Depreciation Consulting fees Directors' fees Investor relations and shareholder information Office and miscellaneous Professional fees Property investigation Property writedowns Rent Salaries and wages Share-based compensation Transfer agent and filing fees Travel and promotion $ 4,800 131,275 2.710 105,000 36,000 117,500 93,330 125,575 32,555 0 41,850 145,000 0 11,450 13,450 $ 860,495 50,177 1,130 43,750 15,000 48,960 38,890 52,320 13,560 1,000 17,440 60,420 0 4,770 3.960 $ 355,900 Other Income Interest income Gain on sale of marketable security Loss for the year before income taxes Future income tax recovery Loss for the year Deficit, beginning of the year Deficit, end of the year 215,225 0 215,225 645,270 (129,054) 516,216 $(234,080) $(750,296) 51,540 11,760 63,300 292,600 (58,520) 234,080 0 $(234,080) EXHIBIT I - FINANCIAL STATEMENTS MAPLE GOLD CORP. (AN EXPLORATION STAGE COMPANY) STATEMENT OF FINANCIAL POSITION AS AT DECEMBER 31, 2017, AND 2016 DRAFT AUDITED 2017 2016 Assets Current assets Cash and cash equivalents $ 548,669 $1,020,920 Receivables 48,595 55,785 Marketable securities 370,000 370,000 Exploration tax credit receivable 55,275 22,750 Due from related party 19,000 21,000 Prepaid expense and deposit 35,450 14 725 1,076,989 1,505,180 Mineral properties (Note 1) 6,700,500 4,485,775 Property, plant, and equipment 14,070 16.780 $7,791,559 $6,007,735 Liabilities and Shareholders' Equity Current liabilities Accounts payable and accrued liabilities 78,950 87,950 Due to related party 17.000 12,000 95,950 99,950 Asset retirement obligation (Note 2) 84,700 79,900 Shareholders' equity Share capital (Note 3) 7,806,800 5,517,560 Contributed surplus (Note 3) 478,550 468,550 Deficit (750,296) (234,080) Accumulated other comprehensive income 75,855 75,855 7.610.909 5,827,885 $7,791,559 $6,007,735 $ $Step by Step Solution
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