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MC TRAVEL INC. Balance Sheet December 31, Note: The statements before any adjustments. 2020 2019 ASSETS-Current assets Cash Temporary investments Accounts receivable Allowance for doubtful accounts Total current assets 7,600,000 2,006,000 5,000,000 -200,000 14,406,000 5,040,000 1,900,000 3,700,000 -100,500 10,539,500 Capital assets Land Building and equipment Accumulated depreciation Total capital assets 250,000 55,270,000 -7,425,000 48,095,000 250,000 55,072,000 -4,950,000 50,372,000 Total assets 62,501,000 60,911,500 LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable Interest payable Income taxes payable Dividends payable Total current liabilities 3,800,800 30,000 350,000 0 4,100,750 15,000 250,000 100,000 4,465,750 4,180,800 Long term liabilities Long term bank loan Bond payable Future income tax liability Total long-term liabilities 5% Miami property due 2019 1,145,000 40,000,000 175,000 41,320,000 807,000 40,000,000 150,000 40,957,000 Total liabilities 45,500,800 45,422,750 Shareholders' equity Common shares Retained earnings Total shareholders' equity 1,000,000 16,000,200 17,000,200 1,000,000 14,488,750 15,488,750 62,501,000 60,911,500 Total liabilities and shareholders' equity Difference: Assets - (Liabilities + Shareholders' equity) 0 0 MC TRAVEL INC. Balance Sheet December 31, $ 2019 Adjustments Restate d 2019 2019 DR CR RE F ASSETS-Current assets Cash Temporary investments Accounts receivable Allowance for doubtful accounts Total current assets Capital assets Land Building and equipment Accumulated depreciation Total capital assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable Interest payable Income taxes payable Dividents payable Total current liabilities Long term liabilities Long term bank loan Bond payable 5% Miami property due 2019 Future income tax liability Total long-term liabilities Total liabilities Shareholders' equity Common shares Retained earnings Total shareholders' equity Total liabilities and shareholders' equity Difference: Assets - (Liabilities + Shareholders' equity) MC TRAVEL INC. Balance Sheet December 31, Note: The statements before any adjustments. 2020 2019 ASSETS-Current assets Cash Temporary investments Accounts receivable Allowance for doubtful accounts Total current assets 7,600,000 2,006,000 5,000,000 -200,000 14,406,000 5,040,000 1,900,000 3,700,000 -100,500 10,539,500 Capital assets Land Building and equipment Accumulated depreciation Total capital assets 250,000 55,270,000 -7,425,000 48,095,000 250,000 55,072,000 -4,950,000 50,372,000 Total assets 62,501,000 60,911,500 LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable Interest payable Income taxes payable Dividends payable Total current liabilities 3,800,800 30,000 350,000 0 4,100,750 15,000 250,000 100,000 4,465,750 4,180,800 Long term liabilities Long term bank loan Bond payable Future income tax liability Total long-term liabilities 5% Miami property due 2019 1,145,000 40,000,000 175,000 41,320,000 807,000 40,000,000 150,000 40,957,000 Total liabilities 45,500,800 45,422,750 Shareholders' equity Common shares Retained earnings Total shareholders' equity 1,000,000 16,000,200 17,000,200 1,000,000 14,488,750 15,488,750 62,501,000 60,911,500 Total liabilities and shareholders' equity Difference: Assets - (Liabilities + Shareholders' equity) 0 0 MC TRAVEL INC. Balance Sheet December 31, $ 2019 Adjustments Restate d 2019 2019 DR CR RE F ASSETS-Current assets Cash Temporary investments Accounts receivable Allowance for doubtful accounts Total current assets Capital assets Land Building and equipment Accumulated depreciation Total capital assets Total assets LIABILITIES AND SHAREHOLDERS' EQUITY Accounts payable Interest payable Income taxes payable Dividents payable Total current liabilities Long term liabilities Long term bank loan Bond payable 5% Miami property due 2019 Future income tax liability Total long-term liabilities Total liabilities Shareholders' equity Common shares Retained earnings Total shareholders' equity Total liabilities and shareholders' equity Difference: Assets - (Liabilities + Shareholders' equity)

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