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Preparing Standardized Financial Statements
JUST DEW IT CORPORATION Balance Sheets as of December 31, 2001 and 2002
2001
2002
Assets
Liabilities and Owners' Equity
Current assets
Current liabilities
Cash
$ 9,201
$ 9,682
Accounts payable
$ 71,802
$ 56,382
Accounts receivable
28,426
29,481
Notes payable
36,108
50,116
Inventory
54,318
63,682
Total
$107,910
$106,498
$ 91,945
$102,845
Long-term debt
$ 50,000
$ 35,000
Fixed assets
Owners' equity
Net plant and equipment
$296,418
$327,154
Common stock and
Total assets
$388,363
$429,999
paid-in surplus
$ 75,000
Retained earnings
155,453
213,501
$230,543
$288,501
Total liabilities and owners' equity
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