Write a short story about the company based on the

Below find a working trial balance for Smith Company.

Smith Company
31-Dec-12
Trial Balance (accounts in alphabetical order)
	Debit	Credit
Accounts payable		67,000
Accounts receivable	24,500
Cash	30,000
Common stock		10,000
Depreciation expense	24,350
Cost of goods sold	234,000
Equipment (net of depreciation)	316,000
Insurance	1,400
Inventory	25,000
Long-term debt		145,000
Marketing	4,500
Paid-in capital		90,000
Property taxes	8,900
Rent	18,000
Retained earnings		???
Revenues		406,000
Salaries	67,500
Utilities	6,700
Total	760,850	718,000

Prepare an income statement and a balance sheet in good format based on the trial balance below.
After you have completed the two statements comment on the success of the company. Write a short story about the company based on the information from the financial statements you just prepared. You may want to include comments about the profitability and debt load of the company.

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