the 2012 comparative balance sheet and income statement of appleton group inc follow 552747

APPLETON GROUP, INC. Comparative Balance Sheet December 31, 2012 and 2011

2012

2011

Increase (Decrease)

Current assets:

Cash and cash equivalents

$ 9,300

$ 15,300

$ (6,000)

Accounts receivable

42,000

43,200

(1,200)

Inventories

97,100

93,700

3,400

Plant assets:

Land

41,100

16,000

25,100

Equipment, net

101,200

94,300

6,900

Total assets

290,700

$ 262,500

$ 28,200

Current liabilities:

Accounts payable

$ 25,600

$ 26,600

$ (1,000)

Accrued liabilities

24,000

22,800

1,200

Long-term liabilities:

Notes payable

46,000

62,000

(16,000)

Stockholders’ equity:

Common stock

140,300

131,400

8,900

Retained earnings

54,800

19,700

35,100

Total liabilities and stockholders’ equity

$ 290,700

$ 262,500

$ 28,200

APPLETON GROUP, INC. Income Statement Year Ended December 31, 2012

Revenues:

Sales revenue

$ 439,000

Interest revenue

11,800

Total revenues

$ 450,800

Expenses:

Cost of goods sold

$ 205,500

Salary expense

76,500

Depreciation expense

15,500

Other operating expense

49,500

Interest expense

24,300

Income tax expense

16,300

Total expenses

387,600

Net income

$ 63,200