The balance sheet shows the company's assets increased from $4.1 million in 2015 to $4.9 million in 2016, with cash decreasing but accounts receivable, inventory, and fixed assets increasing. Total liabilities also increased from $4.1 million to $4.9 million over the same period, with accounts payable and long-term debt rising and net profit increasing common stock equity. The income statement reveals revenues of $4.3 million for 2016 with net income of $471,916, representing an 11% margin.
The balance sheet shows the company's assets increased from $4.1 million in 2015 to $4.9 million in 2016, with cash decreasing but accounts receivable, inventory, and fixed assets increasing. Total liabilities also increased from $4.1 million to $4.9 million over the same period, with accounts payable and long-term debt rising and net profit increasing common stock equity. The income statement reveals revenues of $4.3 million for 2016 with net income of $471,916, representing an 11% margin.
The balance sheet shows the company's assets increased from $4.1 million in 2015 to $4.9 million in 2016, with cash decreasing but accounts receivable, inventory, and fixed assets increasing. Total liabilities also increased from $4.1 million to $4.9 million over the same period, with accounts payable and long-term debt rising and net profit increasing common stock equity. The income statement reveals revenues of $4.3 million for 2016 with net income of $471,916, representing an 11% margin.