Total Assets, liabilities, net worth (balance sheet)

Net income

Statement of cash flow

. 1. Sell stock to investors $1,000 2. Issue Debt for purchase of Food Cart $1,000+ (12 months @ 12% interest) 3. Buy cart with cash (life = 100 months) $500 4. Buy food on credit $1000+ 5. Employees work selling food for 100 hr @ $5/hr $500 6. Sell 500 food packages at $2 per package for cash $1,000 7. Sell 500 food packages at $2 per package on credit $1,000+ 8. Inventory says you used half of food packages $500 9. Recognize you owe taxes $254 10. Pay employees for time worked $5004 11. Recognize depreciation on food cart $54 12. Pay current debt obligation (1 month = $1,000/12) $834 13. Recognize interest obligation on debt $104 14. Pay for 50% of amount owed for food purchased $500 15. Pay interest owed $10