Answer Happy

Project the following pro-forma for 2018:
COMFY HOME COMPANY Balance Sheet As of December 31, 2016 Current Assets: Cash Accounts receivable Inventories Prepaid expenses Total Current Assets $ $ $ $ S 110.000 140.000 310.000 25.000 585,000 Current Liabilities: Accounts Payable Salaries and wages payable Current portion of bank loan Deferred revenue Total Current Liabilities $ $ $ $ 90.000 20.000 45,000 15.000 170,000 $ Non-Current Assets: Furniture and fixtures Buildings and property (Accumulated Depreciation) Total Non-Current Assets Non-Current Liabilities: Bank Loan Total Non-Current Liabilities $ 300,000 300,000 $ $ 120.000 $ 450.000 $ (154.000) $ 416.000 Owners' Equity: Contributed Capital Retained carnings Total Equity $ $ 250.000 281.000 531,000 $ Total Assets $ 1,001,000 Total Liabilities and Owners' Equity $ 1,001,000 COMFY HOME COMPANY Balance Sheet As of December 31, 2017 COMFY HOME COMPANY Income Statement For the year ending December 31, 2017 $ $ Current Assets: Cash Accounts receivable Inventories Prepaid expenses Total Current Assets Current Liabilities: Accounts Payable Salaries and wages payable Current portion of bank loan Deferred revenue Total Current Liabilities 143,000 178.000 358.000 33.000 712,000 $ $ $ S S $ $ $ $ $ S S 196.000 30,000 45.000 18.000 289,000 Total Revenue Cost of Goods Sold Gross Profit Salaries and wages Marketing expenses Selling, General, and Administrative wames Insurance expense Depreciation expense Operating Profit $ $ $ $ $ $ $ $ $ $ $ $ $ $ 1,602,000 985.000 617,000 199,000 46,000 98.000 noire 48.000 we 44,000 182,000 30.000 33.000 119.000 $ Non-Current Assets: Furniture and fixtures Buildings and property (Accumulated Depreciation) Total Non-Current Assets Non-Current Liabilities: : Bank Loan Total Non-Current Liabilities $ S 255.000 255,000 $ Interest expense 150.000 540.000 (198.000) 492.000 $ $ $ Taxes Net Income Owners' Equity: Contributed Capital Retained earnings Total Equity $ $ $ 260.000 400.000 660,000 Total Assets $ 1,204,000 Total Liabilities and Owners' Equity S 1,204,000