Needham Co$.$

Balance Sheet

$12/31/$Year $1012/31/$Year $912/31/$Year $8$

Assets

Current assets

Cash $399,000852,310919,000$

Short$-$term investments $200,000$

Accounts receivable, net $375,000275,000220,000$

Inventory $1,489,0251,356,0001,255,800$

Prepaid insurance $35,00014,00011,200$

Total current assets $2,498,0252,497,3102,406,000$

Non$-$current assets

Investments $690,000792,000633,600$

Property, plant, and equipment

Land $1,450,0001,300,0001,040,000$

Equipment $($less accumulated depreciation$)880,000750,000600,000$

Total property, plant, and equipment $2,330,0002,050,0001,640,000$

Total assets $5,518,0255,339,3104,679,600$

Liabilities and Stockholders' Equity

Current liabilities

Accounts payable $530,000175,054388,000$

Interest payable $45,62545,62520,625$

Bonds payable $50,000$

Income tax payable $62,00014,00011,200$

Total current liabilities $637,625284,679419,825$

Non$-$current liabilities

Note payable $400,000400,000400,000$

Bonds payable $2,126,4002,121,1311,166,162$

Total liabilities $3,164,0252,805,8101,985,987$

Stockholders' equity

Common stock $100,000100,000100,000$

Additional paid$-$in capital $960,000960,000960,000$

Treasury stock $(250,000)$

Retained earnings $1,544,0001,473,5001,633,613$

Total stockholders' equity $2,354,0002,533,5002,693,613$

Total liabilities and stockholders' equity $5,518,0255,339,3104,679,600$