Financial proposition of Dickens Company

    Name:

    Institution:

    DICKENS INCOME STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 20*6
    DETAILS
    SHSH
    Sales fruits

    $15,300
    Less


    Cost of goods sold

    ($3,180)
    Gross improvement

    $12,120




    Less expenses


    Salaries and hire expense 
    ($2,100)
    Interest expense 
    ($1,200)
    Insurance expense 
    ($630)
    Depreciation expense 
    ($1,005)
    Salaries and hire payable 
    ($667)
    Allowance rate payable 
    ($404)($6,006)
    Rights antecedently dividend and rate

    $6,114
    Allowance rate expense 

    ($495)
    Dividends 

    ($975)
    Net allowance

    $4,644

    DICKENS BALANCE SHEET AS AT 31ST DECEMBER  20*6
    Unwandering propertySHSHSH
    Property, establish, & equipment 7260-2010
    $5,250
    Land 9300-1005 DEP
    $8,295
    Total unwandering property

    $13,545
    Current property


    Inventory 
    $2,901
    Accounts receivable 
    $2,430
    Short-term investment 
    $3,600
    Prepaid insurance 
    $180
    Cash
    $3,810
    LESS


    Current liabilities


    Accounts payable $2,502

    Notes payable $183

    Salaries and hire payable$667

    Allowance rate payable $404 ($3,756)$9,165
    Net property

    $22,710
    Financed by


    Common store

    $2,700
    Mortgage payable

    $10,500
    Retained rights

    $9,444
    Net improvement ce the year


    Total  

    $22,644

    RETAINED EARNINGS STATEMENT FOR THE YEAR ENDED 31ST DECEMBER 20*6
    Details Shsh
    Retained rights b/f
    $4,800
    Net allowance ce the year 20*6
    $5,619
    Total allowance
    $10,419
    Less


    Dividends$975 ($975)
    Improvement ce the year
    $9,444