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Part 1: Complete the current portion of the partial balance sheet for Year 4 by clicking in each indicated cell and entering the appropriate amount, rounded to the nearest whole dollar, if there is no amount for a given line item, enter a "on in the cell. Kolar Corp Current Portion - Partial Balance Sheet December 31, Year 4 Current portion of notes receivable: 7% Note receivable from sale of building 8% Note receivable from officer 10% Installment contract on land Noninterest-bearing note from sale of patent - Part 2: Complete the long-term portion of the partial balance sheet for Year 4 by clicking in each indicated cell and entering the appropriate amount, rounded to the nearest whole dollar. If there is no amount for a given line item, enter a "0" in the cell. Kolar Corp Long-Term Portion - Partial Balance Sheet December 31, Year 4 Long-term portion of notes receivable: 17% Note receivable from sale of building 8% Note receivable from officer 10% Installment contract on land Noninterest-bearing note from sale of patent Part 3: Complete the accrued interest receivable portion of the partial balance sheet for Year 4 by clicking in each indicated cell and entering the appropriate amount, rounded to the nearest whole dollar. If there is no amount for a given line item, enter a "0" in the cell. 79 Note receivable from sale of building 896 Note receivable from officer 110% Installment contract on land Noninterest-bearing note from sale of patent Page 25 Kolar Corp. Notes to Financial Statements Note 2 - Note Receivable from Related Party On December 31, Year 3, Kolar Corp entered into a three-year note receivable with Valerie Kolar, the president of Kolar Corp., for $200,000. The interest rate on this note is 8% and the note is collateralized by 5,000 shares of Kolar's common stock. The quoted market price of Kolar's common stock was $40 per share on December 31, Year 3. Interest only is payable annually on December 31. Document #2: KOLAR CORP. PARTIAL BALANCE SHEET AG OF DECEMBER 21. YEAR 2 IN $225,000 0 Current assets: 7% Note receivable from sale of building 8% Note receivable from officer 10% Installment contract on land Accrued interest receivable, building note Accrued interest receivable, installment contract Accrued interest receivable, note from officer 60 332 31,500 14,000 0 Noncurrent assets: 7% Note receivable from sale of building 8% Note receivable from officer 10% Installment contract on land Noninterest-bearing note on sale of patent $450,000 200.000 219.668 93 005 Derel December 31, Yeur 4 Valerie Kolar 12345 My Street Stergentille. ST 90032 Payo theoriler of 00 Kolar Corp $76,000 Sixteen Thousand and 00/100 Dallinn Valerie Kolar arborizado 123456 123a Document #4: Note Receivable - Building Amount: $900.000 Date: 05/ Omor2 Pearl Corp. commits to pay Kolar Corp. the sum of $900 000 for the sale of a building located ar 350 Water Way Tamra. El Repayment is to be made in the form of principal payments of $225.000 plus interest of 7% per annum due annually beginning May 1 Year 3 until the amount of debris pald IN WITNESS WHEREOF / set my hand under seal this day or may Year 2 and acknowledge recept of a completed copy of this instrument EXKkt President KOLAR Com. Notary Public SEAL Intro My Commission Expires 12/31/20 Document #5: INSTALLMENT AGREEMENT FOR LAND SALE FINANCE Amount Total of CHARGE Financed Payments Total Salo Price ANNUAL PERCENTAGE RATE The cott of your credit as a yearly rate The dollar amount the credit will cost YOU The amount of credit provided to YOU The amount you will have paid after making ol payments Total cost of your purchase on credit, including down payment of $ 120.000 $ 473,328 353.328 10.00% $ 73.328 S 280.000 Your Payment Schedule Will Be: Number of Amount of Payments Payments 4 88,332 Annually beginning When Payments Are Due 7/1/Year 4 Additional informalion On July Year 3. Kolor told a parcel of land to Surgent, Inc. The cost of the land to Kolor wos $320.000. Colection of the remaining note installments is reasonably assured ^ Document #6: PATENT SALES AGREEMENT THIS AGREEMENT is entered into on April 1 Year 3. between Cox Co. (the Buyer), and Kolar Corp. (the Seller). IN CONSIDERATION of the agreement set forth herein, and for good and valuable consideration, the parties agree as follows: Purchase of Assets: The Seller agrees to bereby sell, convey, assign, and transfer to the Buyer the patent registered as "4658M 2091 set forth in the Agreement free and clear of any and all liens and encumbrances, and the Buyer hereby accepts the sale,conveyance, assignment, and transfer of said patent. The Buyer does not assume any obligation or liability of the Seller, and the Seller will continue to be liable for any and all liabilities of the Seller Purchase Price: The purchase price for the patent is $100.000 The Buyer shall PAY the Purchase Price no later than April 1. Year 5 by wire transfer Interest: The note is a noninterest-bearing note, has no established exchange price, and has no ready market. The prevailing interest rate for this type of note was 6% on April 1. Year 3. Additional Information: The patent had a carrying amount of $99,000 on January 1 Year 3, the amortization for the year ending December 31, Year 3 would have been $8.000, Part 1: Complete the current portion of the partial balance sheet for Year 4 by clicking in each indicated cell and entering the appropriate amount, rounded to the nearest whole dollar, if there is no amount for a given line item, enter a "on in the cell. Kolar Corp Current Portion - Partial Balance Sheet December 31, Year 4 Current portion of notes receivable: 7% Note receivable from sale of building 8% Note receivable from officer 10% Installment contract on land Noninterest-bearing note from sale of patent - Part 2: Complete the long-term portion of the partial balance sheet for Year 4 by clicking in each indicated cell and entering the appropriate amount, rounded to the nearest whole dollar. If there is no amount for a given line item, enter a "0" in the cell. Kolar Corp Long-Term Portion - Partial Balance Sheet December 31, Year 4 Long-term portion of notes receivable: 17% Note receivable from sale of building 8% Note receivable from officer 10% Installment contract on land Noninterest-bearing note from sale of patent Part 3: Complete the accrued interest receivable portion of the partial balance sheet for Year 4 by clicking in each indicated cell and entering the appropriate amount, rounded to the nearest whole dollar. If there is no amount for a given line item, enter a "0" in the cell. 79 Note receivable from sale of building 896 Note receivable from officer 110% Installment contract on land Noninterest-bearing note from sale of patent Page 25 Kolar Corp. Notes to Financial Statements Note 2 - Note Receivable from Related Party On December 31, Year 3, Kolar Corp entered into a three-year note receivable with Valerie Kolar, the president of Kolar Corp., for $200,000. The interest rate on this note is 8% and the note is collateralized by 5,000 shares of Kolar's common stock. The quoted market price of Kolar's common stock was $40 per share on December 31, Year 3. Interest only is payable annually on December 31. Document #2: KOLAR CORP. PARTIAL BALANCE SHEET AG OF DECEMBER 21. YEAR 2 IN $225,000 0 Current assets: 7% Note receivable from sale of building 8% Note receivable from officer 10% Installment contract on land Accrued interest receivable, building note Accrued interest receivable, installment contract Accrued interest receivable, note from officer 60 332 31,500 14,000 0 Noncurrent assets: 7% Note receivable from sale of building 8% Note receivable from officer 10% Installment contract on land Noninterest-bearing note on sale of patent $450,000 200.000 219.668 93 005 Derel December 31, Yeur 4 Valerie Kolar 12345 My Street Stergentille. ST 90032 Payo theoriler of 00 Kolar Corp $76,000 Sixteen Thousand and 00/100 Dallinn Valerie Kolar arborizado 123456 123a Document #4: Note Receivable - Building Amount: $900.000 Date: 05/ Omor2 Pearl Corp. commits to pay Kolar Corp. the sum of $900 000 for the sale of a building located ar 350 Water Way Tamra. El Repayment is to be made in the form of principal payments of $225.000 plus interest of 7% per annum due annually beginning May 1 Year 3 until the amount of debris pald IN WITNESS WHEREOF / set my hand under seal this day or may Year 2 and acknowledge recept of a completed copy of this instrument EXKkt President KOLAR Com. Notary Public SEAL Intro My Commission Expires 12/31/20 Document #5: INSTALLMENT AGREEMENT FOR LAND SALE FINANCE Amount Total of CHARGE Financed Payments Total Salo Price ANNUAL PERCENTAGE RATE The cott of your credit as a yearly rate The dollar amount the credit will cost YOU The amount of credit provided to YOU The amount you will have paid after making ol payments Total cost of your purchase on credit, including down payment of $ 120.000 $ 473,328 353.328 10.00% $ 73.328 S 280.000 Your Payment Schedule Will Be: Number of Amount of Payments Payments 4 88,332 Annually beginning When Payments Are Due 7/1/Year 4 Additional informalion On July Year 3. Kolor told a parcel of land to Surgent, Inc. The cost of the land to Kolor wos $320.000. Colection of the remaining note installments is reasonably assured ^ Document #6: PATENT SALES AGREEMENT THIS AGREEMENT is entered into on April 1 Year 3. between Cox Co. (the Buyer), and Kolar Corp. (the Seller). IN CONSIDERATION of the agreement set forth herein, and for good and valuable consideration, the parties agree as follows: Purchase of Assets: The Seller agrees to bereby sell, convey, assign, and transfer to the Buyer the patent registered as "4658M 2091 set forth in the Agreement free and clear of any and all liens and encumbrances, and the Buyer hereby accepts the sale,conveyance, assignment, and transfer of said patent. The Buyer does not assume any obligation or liability of the Seller, and the Seller will continue to be liable for any and all liabilities of the Seller Purchase Price: The purchase price for the patent is $100.000 The Buyer shall PAY the Purchase Price no later than April 1. Year 5 by wire transfer Interest: The note is a noninterest-bearing note, has no established exchange price, and has no ready market. The prevailing interest rate for this type of note was 6% on April 1. Year 3. Additional Information: The patent had a carrying amount of $99,000 on January 1 Year 3, the amortization for the year ending December 31, Year 3 would have been $8.000