The balance sheet provides a snapshot of the financial condition of a company. Investors and analysts use the information given on the balance sheet and other financial statements to make several interpretations regarding the companys financial condition and performance.

Cute Camel Woodcraft Company is a hypothetical company. Suppose it has the following balance sheet items reported at the end of its first year of operation. For the second year, some parts are still incomplete.

Use the information given to complete the balance sheet for Cute Camel Woodcraft Company for the years ending December 31, Year 2 and 1, respectively.

Cute Camel Woodcraft Company
Balance Sheet
Years ending December 31
	Year 2	Year 1
ASSETS
Current assets:
Cash and equivalents		$73,800
Accounts receivables	$33,750	$27,000
Inventory	$99,000	$79,200
Total current assets	$225,000	$180,000
Net fixed assets:
Net plant and equipment		$220,000
Total assets	$500,000	$400,000

LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	$0	$0
Accruals	$4,688	$0
Notes payable	$26,562	$25,000
Total current liabilities		$25,000
Long-term bonds	$93,750	$75,000
Total debt	$125,000	$100,000
Common equity:
Common stock	$243,750	$195,000
Retained earnings		$105,000
Total common equity	$375,000	$300,000
Total liabilities and equity	$500,000	$400,000