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Problem 1: Prepare a balance sheet and income statement for Belmond, Inc, from the following:
Inventory $5,500
Common Stock $58,000
Cash $19,700
Operating Expenses $1,350
Short-Term Notes Payable $600
Interest Expense $750
Depreciation Expense $500
Net Sales $15,500
Accounts Receivable $9,600
Accounts Payable $5,200
Long-Term Debt $49,300
Cost of Goods Sold $6,100
Buildings and Equipment $123,500
Accumulated Depreciation $34,000
Taxes $2,440
General and Administrative Expense $850
Retained Earnings ?
Financial Statement Analysis and Preparation
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