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Carolina Products Balance Sheet 12/31/2016 & 12/31/2015...

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Question

Accounting

Carolina Products
Balance Sheet
12/31/2016 & 12/31/2015
Horizontal Analysis
Assets 2016 2015 $ Change % Change
Cash $108,886 $107,455
Accounts Receivable $105,650 $112,420
Prepaid Insurance $1,100 $1,000
Inventory $205,000 $189,350
Prepaid Expenses $1,200 $1,050
Land $80,000 $80,000
Office Equipment $10,500 $10,500
Accum Depr-Office Equip ($2,000) ($2,200)
Total Assets $510,336 $501,590
Liabilities
Accounts Payable $72,090 $70,005
Sales Tax Payable $3,500 $3,450
Interest Payable $860 $825
Total Liabilities $76,450 $74,280
Stockholders Equity
Common Stock $60,000 $58,000
Paid in Capital in Excess of Par $260,000 $254,500
Retained Earnings $113,886 $114,810
Total Stockholders Equity $433,886 $427,310
Total Liabilities & Stockholders Equity $510,336 $501,590

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