Snack Tastic’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 Loan 18,200$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 51,500100,250 Property, Plant, and Equipment Land – At Cost 585,000 Buildings – At Cost 1,020,500 Equipment 365,000 Less: Accumulated Depreciation 140,0001,245,500 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 12/31/2020800,000 Less: Discount on Bonds Payable 73,010726,990 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 3,350935,100 Retained Earnings Total Stockholders’ Equity – Snack Tactic Corporal Stockholders’ Equity Total Liabilities and Stockholders’ Equity 1,991,378
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