Creative Activities Pty Ltd: Balance Sheet 2007/2008
2007
2008
$
$
$
$
Current Assets
cash at bank
80,000
200,000
Debtors
637,000
591,000
Inventory- sports clothing
230,000
235,000
Inventory- sports equipment
325,000
298,000
1,272,000
1,324,000
Non-current assets
Office furniture
1,110,000
1,040,000
Less accumulated depreciation
149,000
961,000
180,000
860,000
Delivery Van
30,000
30,000
Less accumulated depreciation
10,000
20,000
15,000
15,000
Motor Vehicle
50,000
50,000
Less accumulated depreciation
12,000
38,000
16,000
34,000
1,019,000
909,000
Total Assets
2,291,000
2,233,000
Current Liabilities
Creditors
271,000
253,000
Overdraft
6,000
10,000
Taxes payable
48,000
60,000
325,000
323,000
Non-current liabilities
Term Loan
50,000
45,000
50,000
45,000
Total liabilities
375,000
368,000
Owner's Equity
Capital
70,000
70,000
Retained Earnings
1,181,000
1,139,000
Add Profit
665,000
656,000
1,916,000
1,865,000
Total liabilities and Owner's Equity
2,291,000
2,233,000
Creative Activities Pty Ltd: Income Statement 2007/2008
2007
2008
$
$
$
$
Sales- sports clothing
2,5 ...