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In the white boxes below are balance sheet items for 2015 and 2016.
Step 1: Copy and paste all items in the white boxes below into the correct white boxes on the next tab in
columns B, D and F (the 'Questions' tab).
Step 3: On the right side of the balance sheet you created in step 1 (on the Questions tab), answer (in column L) whether or
not the change in the balance sheet line item from the previous year is a concern or not. Simply enter "Yes" or "No".
Step 4: If you answered "Yes" in column L, then please state why this is a concern in the white box in column M.
Step 5: Check to see if your answers are correct on the "Answers" tab and please watch the next lecture for an explanation of the
$ Change from
12/31/2015 12/31/2016 2014 to 2015
ASSETS:
Current Assets:
Cash and cash equivalents $ 600,000 $ 301,500 $ (298,500)
Accounts receivable $ 230,000 $ 400,000 $ 170,000
Short-term investments $ 900,000 $ 900,000 $ -
Inventory $ 45,000 $ 692,125 $ 647,125
Total Current Assets $ 1,775,000 $ 2,293,625 $ 518,625
Equity:
Retained Earnings $ 845,750 $ 1,003,625 $ 157,875
Common Shares $ 75,000 $ 85,000 $ 10,000
Total Equity $ 920,750 $ 1,088,625 $ 167,875
Total Liabilities and Equity $ 1,945,000 $ 2,458,625 $ 513,625
-50%
74%
0%
1438%
29%
-5%
0%
0%
-3%
26%
34%
43%
37%
33%
34%
19%
13%
18%
26%
BALANCE SHEET
$ Change from
12/31/2015 12/31/2016 2014 to 2015
ASSETS:
Current Assets:
Cash and cash equivalents $ 600,000 $ 301,500 $ (298,500)
Short-term investments $ 900,000 $ 900,000 $ -
Accounts receivable $ 230,000 $ 400,000 $ 170,000
Inventory $ 45,000 $ 692,125 $ 647,125
Total Current Assets $ 1,775,000 $ 2,293,625 $ 518,625
Equity:
Retained Earnings $ 845,750 $ 1,003,625 $ 157,875
Common Shares $ 75,000 $ 85,000 $ 10,000
Total Equity $ 920,750 $ 1,088,625 $ 167,875
Total Liabilities and Equity $ 1,945,000 $ 2,458,625 $ 513,625
-50%
0%
74%
1438%
29%
-5%
0%
0%
-3%
26%
43%
34%
37%
33%
34%
19%
13%
18%
26%