TOTAL CURRENT ASSETS

CASH 400
INVESTMENT SECURITIES TRADING 250
ACCOUNTS RECEIVABLE 700
PREPAID EXPENSES 1100
INVENTORY 4000
TOTAL 6450

TOTAL CURRENT LIABILITIES

ACCOUNTS PAYABLE 700
ACCRUED INCOME TAXES PAYABLE 9000
UNEARNED REVENUE 250
CURRENT PORTION OF LONG TERM DEBT 10000
TOTAL CURRENT LIABILITIES 19950

i
ii
iii
iv
v
vi
vii
viii
ix
x
xi
xii
xiii
xiv
xv
xvi
xvii
xviii
xix
xx
SINGLE STEP INCOME STATEMENT
REVENUE
SALES 10000

EXPENSE
COST OF GOODS SOLD 6000
INTEREST EXPENSE 1100
SELLING AND ADMINISTRATIVE EXPENSE 750
INCOME TAX EXPENSE 1200
TOTAL 9050

GROSS INCOME 4000

OPERATING INCOME 3250
NET INCOME 950
ATB DEBIT CREDIT
ACCOUNTS RECEIVABLE 260,000.00
SUPPLIES EXPENSE 710,000.00
SALARIES EXPENSE 2,270,000.00
PRINTING REVENUE 8,130,000.00
PREPAID INSURANCE 320,000.00
DEPRECIATION EXPENSE 250,000.00
SUPPLIES 160,000.00
SALARIES PAYABLE 310,000.00
PRINTING EQUIPMENT 5,520,000.00
PREPAID ADVERTISING 70,000.00
LILLARD WITHDRAWALS 1,500,000.00
INTEREST PAYABLE 40,000.00
CASH 160,000.00
REPAIRS EXPENSE 10,000.00
ACCOUNTS PAYABLE 190,000.00
TELEPHONE EXPENSE 20,000.00
UTILITIES EXPENSE 80,000.00
UNEARNED PRINTING REVENUE 210,000.00
INTEREST EXPENSE 300,000.00
LILLARD CAPITAL 340,000.00
NOTES PAYABLE 2,500,000.00
MISCELLANEOUS EXPENSE 90,000.00
TOTAL 11,720,000.00 11,720,000.00