Dr. Nick Marasigan, M.D.

Income Statement
For the Month Ended October 30, 2019

Revenues
Medical Revenues 434,000
Research Revenues 30,000
Total 464,000
Expenses
Salaries Expense 124,000
Insurance Expense 1,666.67
Repairs Expense 23,000
Supplies Expense 35,000
Association Dues Expense 15,000
Telephone Expense 3,000
Depreciation Expense - Bldg. 5,000
Depreciation Expense -Equipt. 9,000
Dr. Nick Marasigan, M.D.
Interest Expense (20%) 20,000
Balance Sheet
Interest Expense (24%) 8,000
October 30, 2019
Total 243,666.67
Profit 220,333.33
ASSETS
Current Assets
Cash 114,000
Accounts Receivable 204,000
Medical Supplies 21,000
Prepaid Insurance Dr. Nick Marasigan, M.D. 18,333.33
Total Currents AssetsStatement of Changes in Equity 357,333.33
Non-Currents Assets For the Month Ended October 30, 2019
Land 250,000
Medical
Marasigan, Building
Owner’s Equity, 10/1/19 1,000,000 250,000
Less: Accumulated Depreciation
Add: Additional Investments by Marasigan 5,000 995,000
0
Medical
Profit Equipment 465,000 220,333.33 220,333.33
Less: Accumulated Depreciation 9,000 456,000 1,701,000
Total 470,333.33
Total Assets 2,058,333.33
Less: Withdrawals 200,000
LIABILITIES
Marasigan, Owner’s Equity, 10/30/19 270,333.33
Current Liabilities
24% Notes Payable 400,000
20% Notes Payable 1,200,000
Accounts Payable 49,000
Salaries Payable 51,000
Interest Payable (24%) 20,000
Interest Payable (20%) 8,000
Unearned Research Revenues 60,000
Total Current Liabilities 1,788,000
OWNER'S EQUITY
Marasigan, Owner’s Equity, 10/30/19 270,333.33
Total Liabilities and OE 2,058,333.33