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Trump amp; Trudeau Inc.
Balance Sheet
Ending
Beginning
Balance
Balance
Assets
Cash
$1,200,000
$1,400,000
Accounts receivable
1,530,000
1,450,000
Inventory
1,380,000
1,320,000
Plant and equipment, net
3,620,000
3,680,000
Investment in Brexit Sunk Inc.
280,000
250,000
Land (undeveloped)
370,000
380,000
Total assets
$8,380,000
$8,480,000
Liabilities and Shareholders’ Equity
Operating Line
$1,310,000
$1,360,000
Accounts payable
$1,700,000
$1,800,000
Current Portion of Long-Term Debt
$500,000
$470,000
Long-term debt
2,580,000
2,690,000
Shareholders’ equity
2,290,000
2,160,000
Total liabilities and shareholders’ equity
$8,380,000
$8,480,000
Trump amp; Trudeau Inc.
Income Statement
Sales
$40,500,000
Less operating expenses
36,450,000
Net operating income
$4,050,000
Less interest and taxes:
Interest expense
$350,000
Tax expense
350.000
700,000
Net income
$3,350,000
Dividends paid last year
$1,500,000
Minimum required return
15%
Managerial Accounting