BALANCE SHEET

TO DECEMBER 31st, 2015

(In dollars)
ASSETS

PASSIVE

CURRENT ASSETS

CURRENT LIABILITIES

CASH AND CASH EQUIVALENTS

Cash
Banks
Accounts Receivable

VAT charged
1617204,43

Document payable

41371,25
431591,11

Debts payable
2090166,79

Social benefits payable

STOCKS

VAT income tax payable 30%

Inventory Materials
In-process inventory

1453,85
34784,36

Finished Goods Inventory

68971,76

Income Tax payable 1%

payable 1%
105209,97

PRE-PAID
VAT paid
Loan Tax witholding

103,81
18440,47

219863,05
194,80
1790,00
905,12
24,18
6,72
1105,23

IESS payable

287573,30

Employees profit sharing 15%

358508,05

869970,45

55000,00

55000,00

458590,00

458590,00

Income Tax payable 22%

18544,28

2213921,04

CURRENT LIABILITIES
Bank loans

924970,45
924970,45

NON-CURRENT ASSETS
PROPERTY FACILITIES AND EQUIPMENT
(-) Machinery and equipment
Machinery and Accumulated
and Equipment
(-) Land
Buildings
(-)

Building and Accumulated depreciation

85000,00
637,50
70000,00

84362,50
70000,00

OWNERS EQUITY
OWNERS EQUITY
CAPITAL

280000,00
1108,33

278891,67

Capital stock

7600,00
140,75

BALANCE
7459,25

TOTAL ASSETS.

MANAGER

440713,42
2654634,46

Net Income

1271074,01 1271074,01

TOTAL LIABILITIES

ACCOUNTANT

1729664,01
2654634,46

BALANCE SHEETS:

It shows the financial position of a business at a specific date. In this report only the actual
accounts (assets, liabilities and equity) used and the fundamental accounting equation is