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Some recent financial statements for Smollra Golf Corp. follow. SMOLIRA GOLF CORP 2017 and 2018 Balance Sheets Assets Liablitles and Owners Equity 2018 $ 23,884 27,800 11,500 15,700 $53155 55,000 $ 76,000 80,259 2017 2018 2017 Current assets Current llabllltles Cash Accounts $ 24,116 24,800 15,900 27800 63,656 68,500 Accounts payable Notes payable Other 13148 17,000 recelvable Inventory 26,392 12,271 Total Total Long-term debt Owners' equity Common stock and pald-In $40,000 40,000 surplus Accumulated retalned 226,196 258,741 earnings Fixed assets Net plant and $331,695 $365,500 Total $266,196 298,741 equipment Total liabilities and owners $395,351 equity Total assets $395,351 $434,000 $434.000 SMOLIRA GOLF CORP 2018 Income Statement Sales Cost of goods sold Depreclation $396,340 256,000 49,000 Earnings before Interest $ 91,340 15,000 $76,340 and taxes Interest pald Taxable Income Taxes (22%) 16,795 Net Income $59,545 Dividends Retalned earnings $27,000 32,545
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