HAMES INCORPORATED Balance Sheets December 31, 2023, and 2022 ...

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HAMES INCORPORATED Balance Sheets December 31, 2023, and 2022
	2023	2022
Assets
Cash	$22,000	$20,000
Accounts Receivable	78,000	72,000
Merchandise Inventory	103,000	99,000
Total Current Assets	$203,000	$191,000
Land	50,000	40,000
Plant & Equipment	125,000	110,000
Less: Accumulated Depreciation	(65,000)	(60,000)
Total Assets	$ 313,000	$ 281,000
Liabilities
Short-Term Debt	$18,000	$17,000
Accounts Payable	65,200	75,500
Other Accrued Liabilities	20,000	18,000
Total Current Liabilities	$103,200	$110,500
Long-term debt	22,000	30,000
Total Liabilities	$125,200	$140,500
Stockholders Equity
Common Stock, No Par, 100,000 Shares Authorized, 40,000 & 25,000 Shares Issued, Respectively	$74,000	$59,000
Retained Earnings
Beginning balance	$81,500	$85,000
Net income for the year	52,300	1,500
Dividends for the year	(20,000)	(5,000)
Ending Balance	$113,800	$81,500
Total Stockholders Equity	$187,800	$140,500
Total Liabilities & Stockholders Equity	$313,000	$281,000