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Balance Sheets

At December $31$

Assets

Current Assets

Cash: $$1,270,001($Current Year$),$ $$145,847($Prior Year$)$

Accounts Receivable $-$ net: $$298,363($Current Year$),$ $$256,368($Prior Year$)$

Merchandise Inventory: $$281,358($Current Year$),$ $$258,363($Prior Year$)$

Prepaid Expenses: $$55,000($Current Year$),$ $$75,000($Prior Year$)$

Total Current Assets: $$974,722($Current Year$),$ $$744,578($Prior Year$)$

Noncurrent Assets

Property, Plant, and Equipment $-$ net: $$3,854,542($Current Year$),$ $$4,323,421($Prior Year$)$

Total Noncurrent Assets: $$3,854,542($Current Year$),$ $$4,323,421($Prior Year$)$

Total Assets: $$4,829,264($Current Year$),$ $$5,068,049($Prior Year$)$

Liabilities

Current Liabilities

Current Portion of Long$-$Term Debt: $$125,622($Current Year$),$ $$390,877($Prior Year$)$

Accounts Payable: $$528,252($Current Year$),$ $$446,695($Prior Year$)$

Income Taxes Payable: $$185,877($Current Year$),$ $$135,255($Prior Year$)$

Total Current Liabilities: $$839,751($Current Year$),$ $$972,827($Prior Year$)$

Noncurrent Liabilities

Notes Payable: $$730,854($Current Year$),$ $$635,597($Prior Year$)$

Total Noncurrent Liabilities: $$730,854($Current Year$),$ $$635,597($Prior Year$)$

Total Liabilities: $$1,570,505($Current Year$),$ $$1,608,424($Prior Year$)$

Shareholders' Equity

Common Stock, $$1$ par value: $$381,358($Current Year$),$ $$381,358($Prior Year$)$

Additional Paid$-$in Capital in Excess of Par $-$ Common: $$1,129,950($Current Year$),$ $$1,129,950($Prior Year$)$

Retained Earnings: $$2,287,351($Current Year$),$ $$2,083,312($Prior Year$)$

Total Shareholders$$ Equity: $$3,798,659($Current Year$),$ $$3,594,620($Prior Year$)$

Less: Treasury Stock at Cost: $$540,000($Current Year$),$ $$135,000($Prior Year$)$

Total Liabilities and Shareholders' Equity: $$4,829,264($Current Year$),$ $$5,068,049($Prior Year$)$