SnackTastic’s Corp Balance Sheet December 31, 2013 Assets Current Assets

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 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	51,500		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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