Question: Make a Balance Sheet for The Year Ended on April 20th, 2023 Cash 14,651 Inventory 56,808 Sales 106,555 COGS (Includes Wages & Materials 53,277 Taxes

Make a Balance Sheet for The Year Ended on April 20th, 2023

Cash 14,651
Inventory 56,808
Sales 106,555
COGS (Includes Wages & Materials 53,277
Taxes 20% of EBIT
Supplies (50% used this period) 400
Accounts Receivable 26,983
Building Owned - Obtained 4/3/2023; Expected Life (Depreciation period) 10 years 500,000
Mortgage (10 years, 6% Interest) 250,000
Land 200,000
Manitenance Expense 1,000
Depreciation (current period) 5,833
Machinery & Equipment (Depreciable Life 5 years original Loan amount 70,000 @ 8% for 5 years) 100,000
Truck (fully depreciated and paid off) 10,000
Loan Payment Expense for Equipment- Separate from Mortgage payment ?
Interest portion of Equipment Loan 500
Fuel Expense 600
Operation Expense (Other) 5,000
Utilities 1,000
Insurance 2,500
Advertising 5,000
Accumulated Depreciation 33,333
Intangible Assets 15,000
Accounts Payable 28,765
Short Term Securities 10,000
Long term loans payable (Incl. Mortgage) 306,000
Owners Equity ?????

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