Shumba Inc's balance sheet as of December 31, 2011 shows total assets of $42,390,125 consisting of current assets like cash and accounts receivable, fixed assets, and other assets. Total liabilities are $3,934,999 which includes current liabilities such as accounts payable and income taxes payable. Owner's equity of $38,455,124 includes owner's investment and retained earnings. Common financial ratios such as the current ratio of 4.04 indicate Shumba Inc is in a strong financial position.

1. Shumba Inc Balance Sheet
Date: December 31 2011
Assets 2011
Current Assets
Cash 6,324,933
Accounts receivable 7,110,134
Inventory 2,341,177
Prepaid expenses
Short-term investments
Total current assets 15,776,244 -
Fixed (Long-Term) Assets
Long-term investments 721,208
Property, plant, and equipment 157,340
(Less accumulated depreciation) (42,000)
Intangible assets
Total fixed assets 836,548 -
Other Assets
Deferred income tax
Other 25,777,333
Total Other Assets 25,777,333 -
Total Assets 42,390,125 -
42] Liabilities and Owner's Equity
Current Liabilities
Accounts payable 3,170,724
Short-term loans
Income taxes payable 75,825
Accrued salaries and wages 655,000
Unearned revenue
Current portion of long-term debt
Total current liabilities 3,901,549 -
Long-Term Liabilities
Long-term debt 33,452
Deferred income tax
Other
Total long-term liabilities 33,452 -
Owner's Equity
Owner's investment 7,018,523
Retained earnings 31,436,601
Other
Total owner's equity 38,455,124 -
Total Liabilities and Owner's Equity 42,390,125 -
[42]
Common Financial Ratios
Debt Ratio (Total Liabilities / Total Assets) 0.09
Current Ratio (Current Assets / Current Liabilities) 4.04
Working Capital (Current Assets - Current Liabilities) 11,874,695 -
Assets-to-Equity Ratio (Total Assets / Owner's Equity) 1.10
Debt-to-Equity Ratio (Total Liabilities / Owner's Equity) 0.10
Balance Sheet Template by Vertex42.com