ABC COMPANY

Statement of Financial Position

As of December 31, 2014

ASSETS
Cash 23000
Inventories 54000
Gross Accounts Receivable 40000
Allowance for Doubtful Accounts (2000)
Net Accounts Receivable 38000
Gross Fixed Assets 486000
Accumulated Depreciation (51000)
Net Fixed Assets 435000
Total Assets 550000
LIABILITIES & EQUITY
Accounts Payable 39000
Accrued Expenses 8000
Long-Term Debt 210000
Current Portion of L.T Debt 6000
Short-Term Bank Loan (Notes Payable) 18000
Common Stock (PHP0.20par) 45000
Retained Earnings 138000
Additional Paid-In Capital 86000
Total Liabilities & Equity 550000