| | | FEDERER SPORTS APPAREL | | Balance Sheet | | December 31 | | | 2019 | 2018 | | | Amount | % | Amount | % | | Assets | | | | | | Cash | $2,200,000 | | $800,000 | | | Accounts receivable | 1,237,500 | | 990,000 | | | Inventory | 3,112,500 | | 1,660,000 | | | Buildings | 7,150,000 | | 7,150,000 | | | Less: Accumulated depreciation | (1,200,000) | | (600,000) | | | Total assets | $12,500,000 | | $10,000,000 | | | Liabilities and Stockholders' Equity | | | | | | Accounts payable | $1,512,500 | | $1,250,000 | | | Contingent liability | 850,000 | | 0 | | | Common stock | 5,050,000 | | 5,050,000 | | | Retained earnings | 5,087,500 | | 3,700,000 | | | Total liabilities and stockholders equity | $12,500,000 | | $10,000,000 | | |
