Question: Create the 4 basic financial statements for ABC Dream Company. And break those down to determine the worth of the company, would you invest? ABC

Create the 4 basic financial statements for ABC Dream Company. And break those down to determine the worth of the company, would you invest?

ABC Dream Company was formed Dec 1, 2020 with a $200,000 owner investment.

Took a 50,000 loan on 6/31 (12% annual interest rate)

Distributed $10,000 in dividends in December.

Purchased $100,000 of inventory in August (cash).

In September, sold half of inventory for $200,000 cash.

Purchased $50,000 building in January. Lifetime of 10 years.

Paid $50,000 R&D in May

The company pays 21% in corporate taxes.

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