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Just 4 Kids
Balance Sheet
December 31, 20x7
ASSETS
Cash
$2,600
Accounts Receivable
71,000
Inventory
193,000
Other Current Assets
18,900
Total Current Assets
$285,500
Land
$100,000
Furnishings, Fixtures & Vehicles
$166,000
Less Accumulated Depreciation
-28,500
Furnishings, Fixtures & Vehicles (net)
137,500
Building
400,000
190,000
Building (net)
210,000
Total Long-Term Assets
447,500
Total Assets
$733,000
LIABILITIES
Accounts Payable
$ 91,500
Short-Term Notes Payable
35,000
Other Current Liabilities
7,000
Total Current Liabilities
$133,500
Long-Term Notes Payable
388,000
Total Liabilities
$521,500
EQUITIES
Capital
Retained Earnings
111,500
Total Equities
$211,500
Total Liabilities and Equity
Required (utilizing Excel):
1. Develop a Statement of Cash Flows for Just 4 Kids for the year ending December 31, 20x7.
2. Analyze the performance of Just 4 Kids based on the financial statements.
3. If you were Bill, how would you explain the issues, which could be brought up from the analysis completed in parts 1 & 2?
4. If you were Nick, would you approve the loan for Bill? Why or why not?
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