SPORTS UNLIMITED Balance Sheets For the Years...

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Balance Sheets
For the Years Ended December 31, 2021 and 2020

	2021	2020
Assets
Current Assets:
Cash	$ 103,500	$ 70,400
Accounts receivable	46,800	32,000
Inventory	44,550	71,200
Prepaid rent	7,200	3,600
Long-Term Assets:
Investment in bonds	54,900	-
Land	117,450	141,600
Equipment	106,200	102,000
Less: Accumulated depreciation	(30,600)	(20,800)
Total Assets	$ 450,000	$ 400,000

Liabilities and Stockholders' Equity
Current Liabilities:
Accounts payable	$ 30,150	$ 46,800
Interest payable	7,200	3,600
Income tax payable	12,150	10,000
Long-Term Liabilities:
Notes payable	138,150	127,600
Stockholders' Equity:
Common stock	144,000	144,000
Retained earnings	118,350	68,000
Total Liabilities and Stockholders' Equity	$ 450,000	$ 400,000

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