5) PM > 25)> PM CS 9-2 CASE 1: ACME PAINT COMPANY ACME PAINT COMPANY BALANCE SHEET (FROM COMPANY RECORDS, PREPARED WITHOUT AUDIT) Fiscal Year 6/30/X1 06/30/X2 Assets Cash Accounts Receivable Inventory Prepaid Expenses Total Current Assets Land & Buildings (net) Equipment (net) Total Fixed Assets TOTAL ASSETS Liabilities Notes Payable - Banks Accounts Payable Other Current Liabilities $30,600 209,000 472,800 37,000 749,400 145,100 32,200 $69,100 250,100 425,600 8,900 $85,000 230,000 31,800 753,700 146,200 33,500 06/30/X3 06/30/X4 $77,000 254,400 40,400 $30,000 190,200 388,200 500 608,900 282,500 55,000 177,300 179,700 337,500 339,900 $926,700 $933,400 $946,400 $951,500 $21,700 213,500 360,000 16,400 $100,000 255,100 26,000 611,600 280,100 59,800 $119,500 257,300 27,700 06/30/X5 $1,200 174,700 399,000 8,200 583,100 323,800 96,500 420,300 $1,003,400 $132,700 254,500 22,900