1

Valley Publishing CompanyBalance Sheet

December 31st, 20x2

Assets

Current Assets

Cash

Cash - Central State Bank - General $111,289 $95,831

Cash - Central State Bank - Payroll $2,000 $2,000

Cash - Albany National Bank $132,100 $135,270

Petty Cash $1,820 $253

Trade Accounts Receivable $475,205 $501,525

Allowance for Doubtful Accounts -$38,500 -$40,800

Receivable - Insurance Claim $0 $25,950

Newsprint Inventory $175,856 $189,699

Prepaid Insurance $10,160 $155,000

Prepaid Rent $84,000 $0

Deferred Taxes (Asset) $13,400 $0

Investments - General $135,000 $0

Other Assets $0 $70,000

Non-Current Assets

Land $135,000

Building $3,178,710

Accumulated Depreciation - Building -$19,697

Printing Equipment $1,886,840 $3,025,780

Accumulated Depreciation - Printing Equipment -$905,700 -$941,013

Furniture and Equipment $110,240 $194,740

-$52,600 -$67,849

Computers $108,460 $106,310

Accumulated Depreciation - Computers -$64,008 -$79,786

Total Assets $2,185,562 $6,666,923

Liabilities & Equity

Liabilities

Short Term Debt $0 $0

Current Portion of L/T Debt $0 $0

Vouchers Payable -$114,463 -$84,866

Accrued Payroll - Net -$94,416 -$98,154

Accrued Payroll Taxes -$39,494 -$41,432

Accrued Property Taxes -$39,600 -$46,800

Accrued Interest $0 -$82,717

Accrued Pensions -$15,196 -$15,961

Unearned Subscription Revenues -$114,952 -$125,728

Payable to Route Carriers -$21,855 -$23,356

Income Taxes Pay -$16,600 -$29,000

Dividends Payable -$90,000 -$65,000

Equity

Long Term Debt -$500,000 -$3,945,000

Deferred Income Taxes $0 -$13,600

Capital Stock -$450,000 -$650,000

Paid-in Capital $0 -$680,000

Retained Earnings -$467,071 -$623,986

Current Net Income -$221,915 -$141,323

Total Liabilities and Equity -$2,185,562 -$6,666,923

Per Audit 12/31/x1

Per Audit 12/31/x2

Accumulated Depreciation - Furniture and Fixture

Per Audit 12/31/x1

Per Audit 12/31/x2