Scientific Products, Inc.

Statement of Financial Position

31-Dec-22
Assets
Non-Current Assets
Long Term Investment
Investments in held for collection securities $82,000
Land held for future development $5,500 $87,500
Property Plant and Equipment
Land $125,000
Buildings $975,800
Less: Accumulated Depreciation $341,200 $634,600
Total property, plant and equipment $759,600
Intangible Assets
Capitalized Development cost $6,000
Goodwill $66,000
Other Identifiable intangilble assets $28,000 $100,000
Total Non-current assets $947,100
Current Assets
Inventory $489,713
Prepaid expenses $16,252
Account Recivable $165,824
Less: Allowance for doubtfull accounts $1,850 $163,974
Short-term investment $51,030
Cash and cash equivalent $52,485
Total Current assets $773,454
Total Assets $1,720,554

Equity and Liabilities

Equity
Share capital- preference $300,000
Share capital - ordinary $400,000
Share premium - preference $10,000
Share premium - ordinary $27,500
Retained Earnings $170,482
Accumulated other comprehensive income (loss) -$8,650
Less: Treasury shares -$12,750
Equity attributable to owners $886,582
Non-controlling interest $13,500
Total Equity $900,082
Non-current Liabilities
Bond liabilities due Jan. 31, 2021 $425,000
Provisions related to pensions $75,000
Total non-current liabilities $500,000
Current liabilities
Notes payable $80,000
Accounts payable $197,532
Interest payable $20,500
Salaries and wages payable $5,560
Provisions related to warranties $12,500
Deposits received from customers $4,380
Total current liabilities $320,472
Total liabilities $820,472
Total equities and liabilities $1,720,554
 Scientific Products, Inc.
Balance Sheet
31-Dec-22
Assets
Current Assets
Cash and cash equivalent $52,485
Short-term investment $51,030
Account Recivable $165,824
Less: Allowance for doubtfull accounts $1,850 $163,974
Inventory $489,713
Prepaid expenses $16,252
Total Current assets $773,454
Non-Current Assets
Long Term Investment
Investments in held for collection securities $82,000
Land held for future development $5,500 $87,500
Property Plant and Equipment
Land $125,000
Buildings $975,800
Less: Accumulated Depreciation $341,200 $634,600
Total property, plant and equipment $759,600
Intangible Assets
Capitalized Development cost $6,000
Goodwill $66,000
Other Identifiable intangilble assets $28,000 $100,000
Total Non-current assets $947,100
Total Assets $1,720,554

Equity and Liabilities

Current liabilities
Notes payable $80,000
Accounts payable $197,532
Interest payable $20,500
Salaries and wages payable $5,560
Provisions related to warranties $12,500
Deposits received from customers $4,380
Total current liabilities $320,472
Non-current Liabilities
Bond liabilities due Jan. 31, 2021 $425,000
Provisions related to pensions $75,000
Total non-current liabilities $500,000
Total liabilities $820,472
Equity
Share capital- preference $300,000
Share capital - ordinary $400,000
Share premium - preference $10,000
Share premium - ordinary $27,500
 Retained Earnings $170,482
Accumulated other comprehensive income (loss) -$8,650
Less: Treasury shares -$12,750
Equity attributable to owners $886,582
Non-controlling interest $13,500
Total Equity $900,082
Total equities and liabilities $1,720,554