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SMOLIRA GOLF 2011 and 2012 Balance Sheets Assets Liabilities and Owners Equity Current assets Cument...

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Accounting

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SMOLIRA GOLF 2011 and 2012 Balance Sheets Assets Liabilities and Owners Equity Current assets Cument labilides $ 24.066 24300 5.400 27,300 Accounts payable Notes payable Other 23,384 13,000 11,771 27300 11,000 Accounts receivable Total 62,356 67,000 $ 48,155 55,000 71,000 82.000 42,000 Total Long-term debt Oemens on slock and p eaming$292.000 Common stock and paid in surplus Accumalated retained eamings 42,000 227.896 250.000 269,896 $292.000 389,051 $429.000 Foced asselts Net plant and equipment $326.695 $362.000 Tota Total assets 389,051 $429.000 Total liabilities and owners equity SMOURA GOLF, INC 2012 Income Slatement 369,630 253,500 46,500 Cost of goods sold Eamings before interest and taces Interest paid 5 69,630 14,500 Taxable income Taxes (20%) 55,130 1,026 Net income 44.104 Retaised earmings 22.104 Smclira Golf Cop has 20 000 shaces of comemon stock outstanding, and the market pice for a share of ROVO

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