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Additional information added in module 3:

• One client had indicated that they were interested in purchasing $42,500 worth of products. However, the client has not actually committed to the purchase.
• The bookkeeper already corrected the sales account. However, the bookkeeper may have made a mistake when computing cost of goods sold. She included total production costs for 2013 and did not adjust ending inventory for the $42,500 worth of units left at the end of the year. The amount of ending inventory was determined using a physical count.

Additional information for module 4:

• The company made a secondary offering of stock and raised an additional $150,000.
• The company had already paid $15,000 in dividends before deciding on the offering.
• The company now has cash to invest in a piece of raw land on which to build in the future. The investment takes place before year end. The cost of the land is $400,000, the downpayment is $40,000 and a note to the bank covers the rest.

Nybrostrand Company
31-Dec-13
Trial Balance (accounts in alphabetical order)
	Debit	Credit
Accounts payable		$ 78,000
Accounts receivable	$ 50,000
Cash	50,000
Common stock		10,000
Depreciation expense	24,350
Cost of goods sold	307,000
Equipment (net of depreciation)	415,000
Insurance	1,400
Inventory	34,000
Long-term debt		127,000
Marketing	4,500
Paid-in capital		50,000
Property taxes	16,900
Rent	28,000
Retained earnings		?
Revenues		586,000
Salaries	50,000
Utilities	6,700
Total	987,850	851,000

Prepare a balance sheet for the company in good format. Update the balance sheet for the changes to income in module 3 and also consider the effect of paying the dividend.