V LITTON Financial Statements

V. Litton, CPA
Income Statement
For the month ended December 31, 2015
Professional Fees		55600
Less: Expenses
Rent Expense	16400
Office Supplies Expense	15500
Light and Water	4000
Salaries Expense	30750
Taxes and Licenses	3000	69650
Net Loss		(14,050)
V. Litton, CPA
Statement of Changes in Owner's Equity
For the month ended December 31, 2015
Beginning Capital		200000
Add:  Additional Investment	0
Net Income	0
Less: Withdrawals	(10,000)
Net Loss	(14,050)	(24,050)
Ending Capital		175,950
V. Litton, CPA
Balance Sheet
As of December 31, 2015
Current Assets
Cash	102250
Accounts Receivable	25200
Note Receivable	12000
Total Current Assets		139450
Non-current Assets
Furniture and Fixtures	27500
Office Equipment	112000
Total Non-current Assets		139500
Total Assets		278950
Current Liabilities
Accounts payable	51000
Note Payable	32000
Total Current Liabilities		83000
Non-current Liability
Loan Payable		20000
Total Liabilities		103000
V. Litton Capital		175950
Total Liabilities and Owner's Equity		278950