The balance sheet and income statement of Cookie & Coffee Creations Inc. for its first year of operations, the year ended October $31,2024,$ follows.

COOKIE & COFFEE CREATIONS INC.

Balance Sheet

October $31,2024$

Assets

Current Assets

Cash

Accounts receivable

Inventory

Prepaid Rent

Property, Plant, and Equipment

Equipment

Accumulated depreciation$-$equipment

$$27,710$

$2,795$

$15,392$

$5,418$

$$51,315$

$$85,742$

$(8,471)$

$77,271$