Just 4 Kids
Balance Sheet
December 31, 20x7
|
ASSETS
|
|
|
|
|
Cash
|
|
$2,600
|
|
|
Accounts Receivable
|
|
71,000
|
|
|
Inventory
|
|
193,000
|
|
|
Other Current Assets
|
|
18,900
|
|
|
Total Current Assets
|
|
|
$285,500
|
|
Land
|
|
$100,000
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|
|
Furnishings, Fixtures & Vehicles
|
$166,000
|
|
|
|
Less Accumulated Depreciation
|
-28,500
|
|
|
|
Furnishings, Fixtures & Vehicles (net)
|
|
137,500
|
|
|
Building
|
400,000
|
|
|
|
Less Accumulated Depreciation
|
190,000
|
|
|
|
Building (net)
|
|
210,000
|
|
|
Total Long-Term Assets
|
|
|
447,500
|
|
Total Assets
|
|
|
$733,000
|
|
|
|
|
|
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LIABILITIES
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|
|
|
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Accounts Payable
|
|
$ 91,500
|
|
|
Short-Term Notes Payable
|
|
35,000
|
|
|
Other Current Liabilities
|
|
7,000
|
|
|
Total Current Liabilities
|
|
|
$133,500
|
|
Long-Term Notes Payable
|
|
|
388,000
|
|
Total Liabilities
|
|
|
$521,500
|
|
EQUITIES
|
|
|
|
|
Capital
|
|
$100,000
|
|
|
Retained Earnings
|
|
111,500
|
|
|
Total Equities
|
|
|
$211,500
|
|
Total Liabilities and Equity
|
|
|
$733,000
|
Required (utilizing Excel):
1. Develop a Statement of Cash Flows for Just 4 Kids for the year ending December 31, 20x7.
2. Analyze the performance of Just 4 Kids based on the financial statements.
3. If you were Bill, how would you explain the issues, which could be brought up from the analysis completed in parts 1 & 2?
4. If you were Nick, would you approve the loan for Bill? Why or why not?