|Polly’s Pet Products|
|Balance Sheet as of December 31, 2018|
|Total current assets|
|LONG TERM ASSETS|
|LIABILITIES AND STOCKHOLDERS’ EQUITY|
|Income tax payable||5,000|
|Current portion of notes payable||12,000|
|Deferred income taxes||1,500|
|Total current liabilities||123,500|
|LONG TERM LIABILITIES|
|Notes payable (long term)|
|Additional paid-in capital||15,000|
|Total stockholders’ equity|
|TOTAL LIABILITIES AND STOCKHOLDERS EQUITY|
Diamond Gem Cleaning and Maintenance Service Balance Sheet Year Ended December 31, 20XX
|Polly’s Pet Products|
|Income Statement as of December 31, 2018|
|General and Administrative Expenses||75,000|
|Income Before Provision for Income Taxes|
|Provision for Income Taxes||5,000|
|Retained Earnings, Beginning Balance||103,500|
|Retained Earnings, Ending Balance|
Diamond Gem Cleaning and Maintenance Service &”-,Bold”Statement of Income and Retained Earnings Year Ended December 31, 20XX
|Polly’s Pet Products|
|Statement of Cash Flows as of December 31, 2018|
|Cash Flows from Operating Activities|
|Cash received from customers||600,000|
|Cash paid out to suppliers and employees|
|Net cash provided by operating activities||185,000|
|Cash Flows from Investing Activities|
|Purchase of fixed assets||(25,000)|
|Net cash used in investing activities||(25,000)|
|Cash Flows from Financing Activities|
|Repayments on loans||(45,000)|
|Issuance of common shares of stock||5,000|
|Net cash provided by financing activities|
|Net change in Cash|
|Cash balance, beginning of year||30,000|
|Cash balance, end of year|
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