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Balance Sheet

The term balance sheet refers to a financial statement that reports a company's assets, liabilities, and shareholder equity at a specific point in time. Balance sheets provide the basis for computing rates of return for investors and evaluating a company's capital structure.

In short, the balance sheet is a financial statement that provides a snapshot of what a company owns and owes, as well as the amount invested by shareholders. Balance sheets can be used with other important financial statements to conduct fundamental analysis or calculate financial ratios.

The balance sheet adheres to the following accounting equation, with assets on one side, and liabilities plus shareholder equity on the other, balance out:

Assets = Liabilities + Shareholders’ Equity

Balance Sheet
Balance Sheet 5 Year Summary
Period Ending 12/31/17 12/31/18 12/31/19 12/31/20 12/31/21
Current Assets:
Cash $526,391 $2,333,293 $331,915 $1,101,338 $1,771,633
Accounts receivable - 585,000 8,925,000 17,825,000 28,125,000
Total current assets 526,391 2,918,293 9,256,915 18,926,338 29,896,633
Fixed Assets:
Equipment - selling - 80,000 80,000 80,000 80,000
Equipment - administrative 8,000 53,000 53,000 53,000 53,000
Accumulated depreciation (1,596) (9,441) (36,041) (62,641) (89,241)
Total fixed assets - net 6,404 123,559 96,959 70,359 43,759
Total Assets $532,795 $3,041,852 $9,353,874 $18,996,697 $29,940,392
Current Liabilities:
Accounts payable $4,320 $40,520 $325,300 $600,400 $912,750
Interest payable 8,883 45,600 78,933 78,933 -
Income tax payable - - - - -
Total current liabilities 13,203 86,120 404,233 679,333 912,750
Long-Term Liabilities:
Loans payable - owners 165,000 180,000 180,000 180,000 -
Loans payable - investors 500,000 2,500,000 4,500,000 4,500,000 -
Loans payable - banks - 500,000 500,000 500,000 -
Total long-term debt 665,000 3,180,000 5,180,000 5,180,000 -
Total Liabilities 678,203 3,266,120 5,584,233 5,859,333 912,750
Equity:
Common stock - owners 20,000 20,000 20,000 20,000 20,000
Common stock - investors - - - - -
Retained Earnings (165,408) (244,268) 3,749,641 13,117,364 29,007,642
Total equity (145,408) (224,268) 3,769,641 13,137,364 29,027,642
Total Liabilities & Equity $532,795 $3,041,852 $9,353,874 $18,996,697 $29,940,392
Financial Statements
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