ABC company

Trial Balance
31.12.2018 USD
account name code Dr Cr
cash 1 4,100
accounts receivable 2 5,300
Supplies 3 2,100
prepaid insurance 4 2,500
equipment 5 51,550
accumulated depreciation equipment 6 35,000
accounts payable 7 5,000
interest payable 7 150
notes payable 7 5,000
unearned service revenue 9 5,600
salary payable 8 1,300
common stock 10 10,000
retained earnings 11 1,400
service revenue 1.1 52,000
salary expense 1.2 11,300
insurance expense 1.3 8,400
interest expense 1.4 1,830
depreciation expense 1.5 12,570
supplies expense 1.6 3,300
rent expense 1.7 12,500
sum 115,450 115,450

-
BALANCE SHEET ABC company
31 Dec. 2018
USD

ASSETS
code 2018 2017
Current Assets

Cash 1 4,100
Temporary Investments -
Inventories 3 2,100
Accounts receivable 2 5,300
Prepaid expenses 4 2,500
Other

Total Current Assets 14,000 -

Fixed Assets (non current assets)

Property, land and equipment 5 51,550

Leasehold improvements -
Equity and other long-term investments -
Intangible assets -
Less accumulated depreciation (Negative Value) 6 - 35,000

Total Assets 16,550 -

Other Assets

Deferred income tax

Charity/Goodwill
Other

Total Other Assets - -

TOTAL ASSETS 30,550 -

LIABILITIES AND OWNER'S EQUITY

Current Liabilities

Accounts trade payable 7 - 10,150

Accrued wages and salaries 8 - 1,300
Accrued compensation
Short-term loans
Income taxes payable
Unearned revenue 9 - 5,600
Current portion of long-term debt
 Total Current Liabilities - 17,050 -

Long-Term Liabilities

Long-term debt 10 - 10,000

Other long-term debt

Total Long-Term Liabilities - 10,000 -

Oner's Equity

Owner's investment
Retained earning for the period - 2,100
Accumulated retained earnings 11 - 1,400
Other
Total Owner's Equity - 3,500 -

TOTAL LIABILITIES AND OWNER'S EQUITY - 30,550 -

FINANCIAL RATIOS

Working Capital (Current Assets - Current Liabilities) - 3,050 -

Current Ration (Current Assets / Current Liabilities) - 0.82 -
Quick Ratio ((Current Assets – Inventories) / Current Liabilities) - 0.70 -
Debt-to-Equity Ratio (Total Liabilities / Shareholders Equity) 7.73 -
Long Term Debt-to-Equity Ratio (Long Term Debt / Shareholders Equity) 2.86 -
ABC company
31 Dec. 2018
USD
Operating Income
Service revenue 1.1 52,000
Financial revenue
Other revenue
Total Operating Income (OI) $ 52,000

Non-Operating Income
Interest Income
Rental Income
Gifts Received
Donations
Other
Total Non-Operating Income $ -

Total INCOME $ 52,000

EXPENSES
Operating Expenses
Accounting and Legal
Advertising
Depreciation 1.5 12,570
Dues and Subscriptions
Insurance 1.3 8,400
Interest Expense 1.4 1,830
Maintenance and Repairs
Office Supplies
Payroll Expenses 1.2 11,300
Postage
Rent 1.7 12,500
Research and Development
Salaries and Wages
Taxes and Licenses
Telephone
Travel
Supplies 1.6 3,300
Web Hosting and Domains
Other
Total Operating Expenses $ 49,900

Non-Recurring Expenses
Furniture, Equipment and Software
Gifts Given
Other
Total Non-Recurring Expenses $ -

Total EXPENSES $ 49,900

Net Income Before Taxes $ 2,100
Income Tax Expense 210

NET INCOME $ 1,890

Owner Distributions / Dividends

Adjustment to Retained Earnings $ 1,890
1 Working Capital (Current Assets - Current Liabilities)