How would one build an example of a balance sheet (also known as a Statement of Financial Position) for the non-profit organization named Lead by Example, which helps provide 504 and IEP advocacy to parents of children with autism or spectrum disorders? 

Be sure to include all relevant assets, liabilities, and net assets?

Use the Income Statement and Statement of Cash Flow below to complete your balance sheet.

 

Transcribed Image Text:

Income Statement Lead by Example Statement of Income Year ended 12/31/2019 Revenues Cost of goods sold Operating expenses Selling, general, and administrative expense Interest expense Depreciation and amortization expense Interest income Net earnings before taxes Income tax expense Net income Statement of Cash Flow Lead by Example Cash Flow Statement For the year ending 12/31/2019 $1,000,000 Cash Flow From Operations $60,000 Additions to Cash 200,000 Gross profit $800,000 Depreciation Increase in Accounts Payable $20,000 $10,000 Subtractions from Cash 357,700 20,000 5.200 Increases in Accounts Receivable Increase in Inventory ($20,000) ($30,000) Operating income $417,100 Net Cash From Operations $40,000 $20,000 Cash Flow From Investing Purchase equipment ($5,000) $437,100 Cash Flow From Financing 240,000 Notes payable $7.500 $197.100 Cash Flow for year ending 12/31/2019 $42,500 Income Statement Lead by Example Statement of Income Year ended 12/31/2019 Revenues Cost of goods sold Operating expenses Selling, general, and administrative expense Interest expense Depreciation and amortization expense Interest income Net earnings before taxes Income tax expense Net income Statement of Cash Flow Lead by Example Cash Flow Statement For the year ending 12/31/2019 $1,000,000 Cash Flow From Operations $60,000 Additions to Cash 200,000 Gross profit $800,000 Depreciation Increase in Accounts Payable $20,000 $10,000 Subtractions from Cash 357,700 20,000 5.200 Increases in Accounts Receivable Increase in Inventory ($20,000) ($30,000) Operating income $417,100 Net Cash From Operations $40,000 $20,000 Cash Flow From Investing Purchase equipment ($5,000) $437,100 Cash Flow From Financing 240,000 Notes payable $7.500 $197.100 Cash Flow for year ending 12/31/2019 $42,500

Answer rating: 100% (QA)

CALCULATIONS Assets Cash 40000 from Cash Flow Statement Accounts Receivable 20000 from Cash Flow Sta... View the full answer