ASSETS

CURRENT ASSETS
Cash 420,000.00
Factory supplies 50,000.00
Accounts receivable 500,000.00
Claim receivable 20,000.00
Notes receivable 150,000.00
Raw materials 200,000.00
Finished goods 400,000.00
Financial asset held for trading 250,000.00
Prepaid Insurance 20,000.00
Goods in process. 600,000.00
Allowance for doubtful accounts 50,000.00
TOTAL 2,560,000.00

NON-CURRENT
Investment in bonds 1,500,000.00
Machinery 2,000,000.00
Land 1,500,000.00
Building 4,000,000.00
Franchise 200,000.00
Plant expansion fund 500,000.00
Tools 40,000.00
Goodwill 100,000.00
Accumulated depreciation-building 1,600,000.00
Accumulated depreciation-machinery 1,300,000.00
TOTAL 6,940,000.00

TOTAL ASSETS 9,500,000.00

CURRENT LIABILITIES
Employees income tax payable 20,000.00
Notes payable 100,000.00
Accrued expenses 30,000.00
Accrued interest on note payable 10,000.00
Income tax payable 60,000.00
Accounts payable 300,000.00
Advances from customers 100,000.00
TOATL 620,000.00

NON- CURRENT LIABILITIES

Serial bonds payable (500,000 due every July 1 of each year) 2,500,000.00
TOTAL 2,500,000.00

OWNER'S EQUTY
Share capital 5,000,000.00
Share premium 500,000.00
Retained earnings 880,000.00
TOTAL 6,380,000.00

TOTAL LIABLITIES AND OWNERS EQUITY 9,500,000.00

 DISTRIBUTION COST
Advertising 1,500,000.00
Freight out 800,000.00
Sales salaries and commissions 700,000.00
TOTAL 3,000,000.00
ADMINISTRATIVE EXPENSE
Accounting and legal fees 1,200,000.00
Interest 300,000.00
Loss on sale of long-term investment 2,250,000.00
Officers' salaries 2,200,000.00
Rent for office space 1,400,000.00
TOTAL 7,350,000.00
 DISTRIBUTION COST
Rent for office space equally shared by sales and accounting 2,400,000.00
Freight in 1,750,000.00
Freight out 1,600,000.00
Sales representative salaries 2,150,000.00
TOTAL 7,900,000.00
ADMINISTRATIVE EXPENSE
Interest on inventory loan 2,100,000.00
Loss on abandoned data processing equipment 350,000.00
Legal and audit fees 1,700,000.00
Officers' salaries 1,500,000.00
Insurance 850,000.00
Research and development expense 1,000,000.00
TOTAL 7,500,000.00
 Bangladesh Company
Statement of Comprehensive Income
Dec-31
Sales 50,000,000.00
Cost of goods sold - 30,000,000.00
Correction of inventory error, net of tax - credit - 1,000,000.00
Gross Profit 19,000,000.00
Investment income 3,000,000.00
Total Income 22,000,000.00
Expenses:
Distribution costs 5,000,000.00
General and administrative expenses 4,000,000.00
Dividends declared 250,000.00
Interest expense 2,000,000.00 11,250,000.00
Income before tax 10,750,000.00
Income tax expense - 5,000,000.00
Net Income 5,750,000.00
Other Comprehensive Income
Gain on early extinguishment of long-term debt 500,000.00
Gain on expropriation 2,000,000.00
Comprehensive income 8,250,000.00