Balance Sheet

Miracle Products
As of December 31, 2017

Assets
Current Assets
Cash on hand 195,000
Cash in banks 738,500
Accounts receivable 25,500
Inventory of work-in process goods and finished products 222,500
Inventory of raw materials 115,000

Total Current Assets:

Fixed Assets
Service Vehicle 750,000
Reserve for depreciation on service vehicle 40,000
Office Equipment 245,000
Reserve for depreciation on office equipment 22,000

Total Fixed Assets

Prepaid Expenses
Prepaid Rent 60,000
Prepaid Insurance 19,800

Total Prepaid Expenses:

Intangible Assets 0

Total Intangible Assests 0

Total Assets:
 Balance Sheet
Miracle Products
As of December 31, 2017

Liabilities
Current Liabilities
Notes Payable 315,000
Salaries Payable 2,700
Accounts Payable 79,500
Utilities Payable 2,100

Total Current Liabilities:

1,296,500

Fixed Liabilities
Interest Payable 5,250

Total Fixed Liabilities:

Prepaid Income
933,000 Advance payment or orders made to the company 19,000

Total Prepaid Income:

Total Liabilities:

79,800 Ownership
Capital

Total Ownership:

Total Assets = Total Ownership + Total Liabilities

2,309,300 2,309,300 = X + 423,550
X= 1,885,750
 399,300

5,250

19,000
423,550