Financial+statements

__Month ending date__
 * Balance Sheet**


 * **__ASSETS__**

cash $45,000

accounts receivable $2,000

company car $18,000

store fixtures $6,000

inventory $695


 * TOTAL ASSETS $71,695** || **__LIABILITIES AND CAPITAL__**


 * Liabilities:**

Accounts payable $1,200

Loan at bank $20,000


 * Total Liabilities $21,200**


 * Capital (Net Worth): $50,495**


 * Total Liabilities**
 * And Capital $71,695** ||


 * HINTS**


 * 1)** **__The formula for figuring Net Worth__ is Assets – Liabilities = Net Worth.**

Raider Shades Income Statement **//October 1//** to **//November 1//**
 * 2)** **On a __Balance__ Sheet for a business the Total Assets __MUST EQUAL__ Total Liabilities and Capital**

__Income__

Revenue (Income from Sale of Products) $3,900.00

Less Cost of Goods Sold (what was paid for production and materials) - $1,700

Gross Margin (profit made from selling products) $2,200

__Expenses__

rent $975 utilities $135 employee wages $1,100 employee benefites $110 advertising $120


 * Less Total Expenses** - $2,440


 * Net Profit (money we made) or Loss (money we lost) $ 240 **