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Halley Company Comparative Balance SheetsFor years ended 2018 and 2019June 30 2019Assets 5Cash ………………………. 53,000Accounts receivable ………….. 106,000Inventory …………………… 162,000Land ………………………. 300,000Buildings and equipment (at cost). – 845 ,000Less: Accumulated depreciation – _ – (514,000)Total Assets 952,000Liabilities and Share EquityAccounts payable ……………. 141,000Interest payable ……………… 8,0“)Mortgage payable ________________ 109 ,0“)Share capital ………………… 520,000Retained earnings ……………. 174,000Total Liabilities and Share Equity 952,000 Halley CompanyStatement of Profit and Lossfor the year 2019 Sales revenue …………….Cost of goods sold ___________ Gross profit _________________ Additions to Retained earningsRetained earnings, Jun 30 2018Retained earnings, Jun 30 2019 June 30 2018$52,00093,000151,000300,000790,000(460.000)926,000 1361110 10,000120,011)520,000140,000926,000
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