Page 298 - Onboarding May 2017
P. 298
APPLE SUPPLY CHAIN CO-OP, INC.
BALANCE SHEETS
December 31, 2015 and 2014
2015 2014
ASSETS
Current assets
Cash and cash equivalents $ 873,541 $ 3,500
Current portion of member notes receivable, less loan loss
reserve of $8,273 (Note 4) 404,467 -
Income tax receivable - 42,939
Interest receivable 10,697 -
Total current assets 1,288,705 46,439
Investment at equity (Note 2) 1,172,355 1,252,619
Long-term member notes receivable (Note 4) 412,735 -
Total assets $ 2,873,795 $ 1,299,058
LIABILITIES AND MEMBERS’ EQUITY
Current liabilities
Accounts payable $ 147,216 $ -
Current maturities of long-term debt (Note 5) 750,000 -
Accrued interest 1,988 -
Accrued income taxes 6,226 -
Total current liabilities 905,430 -
Long-term debt (Note 5) 750,000 -
Members’ equity (Note 1) 1,218,365 1,299,058
Total liabilities and members’ equity $ 2,873,795 $ 1,299,058
See accompanying notes to financial statements.
2.
