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SnackTastic’s Corp Balance Sheet December 31, 2013

/in /by
SnackTastic’s Corp
Balance Sheet 
December 31, 2013
Assets 
Current Assets    
Cash  $    1,354,600  
Available-for-Sale Securities – At Fair Value   
Investment in Ferrari Corp Stock                41,250  
    
Accounts Receivable $        350,400   
Less: Allowance for Doubtful Accounts               15,250   
Restricted  as Collateral Against Loan18,200 $        316,950  
Inventories – At Average Cost             546,500  
Supplies on Hand                27,850  
Prepaid Expenses             501,400  
Total Current Assets    $    2,788,550
    
Long-Term Investments    
Investment in Sampson Corp Stock               48,750   
Investment in Durango Corp Bonds               51,500             100,250
    
Property, Plant, and Equipment    
Land – At Cost             585,000  
Buildings – At Cost         1,020,500   
Equipment           365,000   
Less: Accumulated Depreciation            140,000         1,245,500  
Total Property, Plant, and Equipment           1,830,500
    
Intangible Assets    
Trademark                63,000
Total Assets    $    4,782,300
    
Liabilities and Stockholders’ Equity 
Current Liabilities    
Notes Payable  $        336,870   
Accounts Payable               83,750   
Accrued Interest on Notes Payable            124,268   
Accrued Salaries, Wages, and Other Liabilities              42,000   
Total Current Liabilities    $        586,888
    
Long-Term Debt    
Twenty-Year, 10% Bonds, due 12/31/2020            800,000  
Less: Discount on Bonds Payable                73,010            726,990
Long Term Notes Payable             677,500
Total Liabilities           1,991,378
    
Stockholders’s Equity   
Paid-in on Capital Stock   
Preferred –    
Authorized, issued, and Outstanding    
25,000 Shares of $10 Par Value            250,000   
Common –    
Authorized, 100,000 Shares of    
$5 Par Value; Issued and            500,000   
Additional Paid-In Capital            178,000   
Unrealized Gain on Sale of Ferrari Corp Stock                3,750   
Unrealized Holding Gain – Equity                 3,350            935,100  
Retained Earnings    
Total Stockholders’ Equity – SnackTastic Corp   
Total Stockholders’ Equity   
Total Liabilities and Stockholders’ Equity           1,991,378
 
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