Ma and Pa's
Balance Sheet
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Year 1 Year 2 Year 3
Cash 4,500 1,554 6,322
Accounts Receivable 24,500 31,500 35,000
Inventory 12,000 20,000 21,000
 Total Current Assets 41,000 53,054 62,322
Equipment 10,000 10,000 10,000
Accumulated Depreciation 2,000 4,000 6,000
 Net Equipment 8,000 6,000 4,000
Total Assets 49,000 59,054 66,322
Liabilities
Accounts Payable 16,800 21,000 22,800
Other Accruals 3,000 5,000 5,500
Sales Tax 1,700 3,000 3,500
Bank Note 2,500 0 0
 Total Current Liabilities 24,000 29,000 31,800
Capital 25,000 30,054 34,522
Total Liabilities & Capital 49,000 59,054 66,322
Capital Statement
Beginning Capital 30,054 34,522
Owner's Contributions 25,000
Profit / Loss 45,054 34,468 43,588
Owner's Draws 40,000 30,000 40,000
Ending Capital 30,054 34,522 38,110
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