Explain each of these areas of possible confusion

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Reference no: EM132045812

Using the Score Financial Projections Template (See Below) analyze the pictures in their entirety for any aspects that may not be obvious to the common financial statement user.

Explain each of these areas of possible confusion. Also,Please provide assumptions regarding financial statement content at the end of the first fiscal year.

The spreadsheet did not show up on word like I wanted it to.

Balance Sheet Years 1-3

Prepared By:	Company Name:
Owner	Company 1

ASSETS	2017	2018	2019
Current Assets
Cash	1,310,816	1,969,222	2,684,686
Accounts Receivable	155,892	155,892	155,892
Inventory	59,323	118,299	188,091
Prepaid Expenses	29,796	14,898	-
Other Initial Costs	1,333	667	-
Total Current Assets	$ 1,557,161	$ 2,258,978	$ 3,028,669

Fixed Assets
Real Estate -- Land	-	-	-
Real Estate -- Buildings	48,000	48,000	48,000
Leasehold Improvements	20,000	20,000	20,000
Equipment	10,500	10,500	10,500
Furniture and Fixtures	30,000	30,000	30,000
Vehicles	12,000	12,000	12,000
Other	-	-	-
Total Fixed Assets	$ 120,500	$ 120,500	$ 120,500
(Less Accumulated Depreciation)	$ 12,564	$ 27,721	$ 42,879
Total Assets	$ 1,665,096	$ 2,351,756	$ 3,106,290

LIABILITIES & EQUITY
Liabilities
Accounts Payable	(568,392)	(568,392)	(568,392)
Commercial Loan Balance	26,777	23,252	19,396
Commercial Mortgage Balance	-	-	-
Credit Card Debt Balance	-	-	-
Vehicle Loans Balance	-	-	-
Other Bank Debt Balance	-	-	-
Line of Credit Balance	(15,680)	(39,374)	(63,068)
Total Liabilities	$ (557,294)	$ (584,513)	$ (612,063)
Equity
Common Stock	84,694	84,694	84,694
Retained Earnings	2,260,940	3,098,062	4,003,389
Dividends Dispersed/Owners Draw	123,243	246,486	369,729
Total Equity	$ 2,222,391	$ 2,936,270	$ 3,718,354
Total Liabilities and Equity	$ 1,665,096	$ 2,351,756	$ 3,106,290

Balance sheet in or out of balance?	$ -	$ -	$ -
Balance sheet in or out of balance?	Balanced!	Balanced!	Balanced!

Reference no: EM132045812

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