MAYNARD COMPANY

BALANCE SHEETS AS OF JUNE 1 AND JUNE 30

Assets

Current Assets:
As of June I
As of June 30:
Cash.........................................................................................................................................................................................
$ 34,983
$ 66,660
Accounts receivable.................................................................................................................................................................
21,798
26,505
Note receivable........................................................................................................................................................................
11,700
0
Merchandise inventory.............................................................................................................................................................
29,835
26,520
Supplies on hand......................................................................................................................................................................
5,559
6,630
Prepaid insurance.....................................................................................................................................................................
3,150
2,826
Total current assets
$107,025
$129,141
Noncurrent assets:
Land.........................................................................................................................................................................................
89,700
89,700
Building...................................................................................................................................................................................
585,000
585,000
Less: Accumulated depreciation..........................................................................................................................................
(156,000)
429,000 ( 157,950)
427,050
Equipment................................................................................................................................................................................
13,260
36,660
Less: Accumulated depreciation..........................................................................................................................................
( 5,304)
7,956 ( 5,928)
30,732
Other noncurrent assets............................................................................................................................................................
4,857
5,265
Total noncurrent assets........................................................................................................................................................
531,513
552,747

Total assets..................................................................................................................................................................
$638,538
$681,888

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Liabilities and Shareholders Equity

Current liabilities:
Accounts payable.....................................................................................................................................................................
$8,517
$ 21,315
Bank notes payable..................................................................................................................................................................
8,385
29,250
Taxes payable..........................................................................................................................................................................
5,700
7,224
Accrued wages payable............................................................................................................................................................
1,974
2,202
Total current liabilities........................................................................................................................................................
$ 24,576
$ 59,991
Other noncurrent liabilities.......................................................................................................................................................
2,451
2,451
Total liabilities....................................................................................................................................................................
27,027
62,442
Shareholders Equity:
Capital stock............................................................................................................................................................................
390,000
390,000
Retained earnings.....................................................................................................................................................................
221,511
229,446
Total shareholders equity...................................................................................................................................................
611,511
619,446
Total liabilities and shareholders equity........................................................................................................................
$638,538
$681,888

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