Consider the following
Cruyff Enterprises Balance Sheets As of December 31, 2020 and 2019 |
|
|
|
|
2020 |
|
2019 |
Assets: |
|
|
|
Cash |
$18,650 |
|
$ 14,900 |
|
42,000 |
|
36,000 |
Inventory |
60,500 |
|
50,000 |
Prepaid Rent |
3,000 |
|
1,400 |
Property, Plant and Equipment |
230,000 |
|
205,600 |
Less: |
(75,000) |
|
(65,000) |
Total Assets |
$279,150 |
|
$242,900 |
|
|
|
|
Liabilities and |
|
|
|
Accounts Payable |
$26,500 |
|
$21,000 |
Interest Payable |
650 |
|
400 |
Unearned Revenue |
7,000 |
|
10,000 |
Bonds Payable |
37,000 |
|
37,000 |
Common Stock |
20,000 |
|
15,000 |
Additional Paid-In Capital |
48,000 |
|
40,000 |
|
140,000 |
|
119,500 |
Total Liabilities and Stockholders’ Equity: |
$279,150 |
|
$242,900 |
|
|
|
|
Cruyff Enterprises Income Statement For the year ended December 31, 2020. |
|
|
|
Sales Revenue |
$ 470,000 |
|
|
Cost of Goods Sold |
315,000 |
Wage Expense |
71,000 |
Rent Expense |
xx,xxx |
Depreciation Expense |
15,000 |
Interest Expense |
19,000 |
Net Income |
yy,yyy |
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