Company Name
Balance Sheet
As of DEC 31, 2012

Assets
Current Assets
Cash 42,485
Trading Securities FMV 28,250
Acct Receivable 165,824
Allowance for Doubtful Accounts (1,850)
Net Realizable Value 163,974
Merchandise Inventory 499,493
Notes Receivable 23,000
Prepaid Expenses 16,252
Total Current Assets 773,454

Long Term Investments
Investments in Warren Co. 87,500
Total Long Term Investment 87,500

Property, Plant and Equipment
Land 125,000
Building 975,800
Accumulated Depreciation 341,200
Book Value 634,600
Total Property, Plant and Equipment 759,600

Intangible Assets
Copyrights 105,000
Goodwill 100,000
Patents 125,000
Trademarks 80,000
Total Intangible Assets 410,000

Other Assets
Deposits with Vendors 50,000
Total in Other Assets 50,000

Total Assets 2,080,554

Liabilities and Stockholders’ Equity

Liabilities
Current Liabilities
Accounts Payable 197,532
Notes Payable to Banks 50,000
Salaries Payable 52,000
Income Tax Payable 62,520
Accrued Liabilities 9,500
Accrued Interest on Notes Payable 500
Rent Payable for the year (1500 x 12) 18,000
Customers Deposits (expected to be paid next year) 420
Total Current Liabilities 390,472

Long-Term Liabilities
Mortgage Payable 290,000
Twenty-year, 12% Bonds, due 1/1/2013 500,000
Total Long-Term Liabilities 790,000

Share Holders and Owners Equity
Capital Stock
Preferred Stock, 7%