Carter Printing Services
Statement of Comprehensive Income
For the year ended December 31, 2021
Service Revenue 160,000.00
Less: Expenses
Salaries Expense 40,000.00
Supplies Expense 26,100.00
Rent Expense 20,500.00
Utilities Expense 11,300.00
Depreciation Expense 5,000.00 102,900.00
Net Income 57,100.00
Carter Printing Services
Statement of Changes in Equity
For the year ended December 31, 2021
Carter, Beginning Capital 100,000.00
Add: Additional Investment 10,000.00
Net Income 57,100.00 67,100.00
Total 167,100.00
Less: Carter, Drawings 20,000.00
Carter, Ending Capital 147,100.00
Carter Printing Services
Statement of Financial Position
For the year ended December 31, 2021
Assets
Current Assets
Cash 21,000.00
Accounts Receivable 16,000.00
Prepaid Expenses 4,500.00
Total Current assets 41,500.00
Non-current assets
Fixed Assets 45,000.00
Total Non-current assets 45,000.00
Total Assets 186,500.00
Liabilities & Owner’s Equity
Current Liabilities
Accounts Payable 8,400.00
Rent Payable 8,000.00
Total current liabilities 16,400.00
Non-current liabilities
Loans Payable 23,000.00
Total Non-current liabilities 23,000.00
Total liabilities 39,400.00
Carter, Capital 147,100.00
Total Liabilities & Owner’s Equity 186,500.00
Carter Printing Services
Statement of Cash Flow
For the year ended December 31, 2021
Cash Flow from Operating Activities
Cash received from customers 146,000.00
Cash paid for expenses (81,000.00)
Cash paid to suppliers (47,500.00)
Net Cash flow from Operating Activities 17,500.00
Cash Flow from Investing Activities
Cash paid to acquire additional equipment (20,300.00)
Cash Flow from Financing Activities
Cash received from investment of owner 10,000.00
Cash received from bank loan proceeds 50,000.00
Cash paid to bank for partial loan repayment (27,000.00)
Cash paid to owner for withdrawal (20,000.00)
Net Cash flow from Financing Activities 13,000.00
Net increase in Cash 10,200.00
Add: Cash, January 1, 2021 10,800.00
Cash, December 31, 2021 21,000.00
