Records Company	Name____________________________
Income Statement
Year Ended December 31, 2016
Sales	$180,000
Cost of Goods Sold	($110,000)
Depreciation Expense	($30,000)
Operating Expense	($18,000)
Loss on sale of land	($1,000)
Gain-sale of equipment	$5,000
Net Income	$26,000
Balance Sheet	2016	2015	2016	2015
Cash	$35,000	$53,000	Accounts Payable	$18,000	$13,000
Accounts Rec	$25,000	$32,000	Interest Payable	$17,000	$25,000
Inventory	$40,000	$32,000	Salaries Payable	$15,000	$10,000
Prepaid Expense	$5,000	$4,000	Notes Payable	$20,000	$30,000
Investments	$15,000	$10,000	Bonds Payable	$30,000	$35,000
Land	$15,000	$18,000	Common Stock	$143,000	$133,000
Build & Equip, net	$145,000	$122,000	Retained Earnings	$37,000	$25,000
$280,000	$271,000	$280,000	$271,000
Additional Information:
A. Purchased investments.
B. Purchased $56,000 of equipment.
C. Paid off $10,000 of notes payable by issuing common stock
D. Paid dividends
E. Sold equipment with a book value of $3,000 for a gain of $5,000.
F. Sold land for a loss of $1,000
Records Statement of Cash Flows