Scott Butler Corporation
Balance Sheet
December 31, 2020
Assets
Current assets
Cash ....................................................
Debt investments (Trading) ...............
Accounts receivable ...........................
Less: Allowance for doubtful
accounts ...................................
Inventory .............................................
Total current assets.....................
$197,000
153,000
$435,000
(25,000)
Long-term investments
Debt investments ................................
Equity investments .............................
Total long-term investments ......
Property, plant, and equipment
Land .....................................................
Buildings ............................................. 1,040,000
Less: Accum. depreciation—
building......................................
152,000
Equipment ..........................................
600,000
Less: Accum. depreciation—
equipment .................................
60,000
Total property, plant, and
equipment .................................
Intangible assets
Franchises....................................................
Patents ................................................
Total intangible assets .................
Total assets ...................................
410,000
597,000
1,357,000
299,000
277,000
576,000
260,000
888,000
540,000
1,688,000
160,000
195,000
355,000
$3,976,000
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable ..........................
Notes payable (short-term) ...........
Dividends payable .........................
Accrued liabilities ..........................
Total current liabilities ...........
$ 455,000
90,000
136,000
96,000
$ 777,000
Long-term debt
Notes payable (long-term) .............
Bonds payable ................................
Total long-term liabilities ..........
Total liabilities ...........................
Stockholder’s equity
Paid-in capital
Common stock ($5 par) ...........
Additional paid-in capital.........
Retained earnings* .........................
Total paid-in capital and
retained earnings .................
Less: Treasury stock ......................
Total stockholders’ equity ......
Total liabilities and
stockholders’ equity ............
900,000
1,000,000
1,900,000
2,677,000
$1,000,000
80,000
1,080,000
410,000
1,490,000
191,000
1,299,000
$3,976,000
*Computation of Retained Earnings:
Sales revenue
Investment revenue
Extraordinary gain
Cost of goods sold
Selling expenses
Administrative expenses
Interest expense
Net income
Beginning retained earnings
Net income
Ending retained earnings
$8,100,000
63,000
80,000
(4,800,000)
(2,000,000)
(900,000)
(211,000)
$ 332,000
$ 78,000
332,000
$410,000