Financial Statements

Balance Sheet

Assets Amount
Cash $6,000.00
Accounts Receivable $1,500.00
Raw Materials $500.00
Finished Goods Inventory $3,000.00
Prepaid Expenses $600.00
Fixed Assets $2,000.00

Liabilities

Liabilities Amount
Accounts Payable $1,000.00
Short-term Loan $3,000.00
Long-term Loan $5,000.00
Accrued Liabilities $1,000.00

Equity

Equity Amount
Owner's Equity $5,000.00
Retained Earnings $1,000.00

Income Statement

Revenue Amount
Sales Revenue $4,500.00
Service Income $400.00
Embroidery Services Income $500.00
Miscellaneous Revenue $200.00

Expenses

Expenses Amount
Raw Materials Purchase $800.00
Direct Labor Costs $1,000.00
Factory Utility Costs $600.00
Machine Maintenance Costs $200.00
Factory Rent Expense $1,500.00
Depreciation of Factory Assets $500.00
Freight and Shipping Costs $300.00
Marketing Expenses $500.00
Salaries for Administrative Staff $2,000.00
Office Supplies Purchased $150.00
Legal and Professional Fees $300.00

Cash Flow

Cash Flow from Operating Activities Amount
Cash Received from Customers $6,000.00
Cash Paid for Raw Materials -$800.00
Cash Paid for Labor -$1,000.00
Cash Paid for Operating Expenses -$3,250.00

Cash Flow from Financing Activities

Cash Flow from Financing Activities Amount
Short-term Loan Received $3,000.00
Long-term Loan Received $5,000.00