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Category Prior Year Current Year Accounts payable ??? ??? Accounts receivable 320,715 397,400 Accruals 40,500 33,750...

Category Prior Year Current Year
Accounts payable ??? ???
Accounts receivable 320,715 397,400
Accruals 40,500 33,750
Additional paid in capital 500,000 541,650
Cash 17,500 47,500
Common Stock 94,000 105,000
COGS 328,500 430,380.00
Current portion long-term debt 33,750 35,000
Depreciation expense 54,000 54,221.00
Interest expense 40,500 42,028.00
Inventories 279,000 288,000
Long-term debt 335,365.00 400,331.00
Net fixed assets 946,535 999,000
Notes payable 148,500 162,000
Operating expenses (excl. depr.) 126,000 161,395.00
Retained earnings 306,000 342,000
Sales 639,000 852,776.00
Taxes 24,750 48,765.00

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Expert Solution

Balance Sheet
Prior Year $ Current Year $ Prior Year $ Current Year $
Cash (Balance Figure)                   17,500                 47,500 Accruals               40,500                  33,750
Accounts Rec                320,715               397,400 Accounts Payable(Balance Figure)             105,635               112,169
Inventory 279,000 288,000 Current Portion of Long Term Debt 33,750 35,000
Notes Payable 148,500 162,000
Long term Debt 335,365 400,331
Total Current Assets                617,215               732,900
Common Stock               94,000               105,000
Net Fixed Assets 946,535 999,000 Additional Paid in Capital             500,000               541,650
Retained earnings             306,000               342,000
Total Assets             1,563,750           1,731,900 Total liabilities and Equity         1,563,750            1,731,900

jeff jeffy answered 11 months ago
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