ASSETS
Current Assets
Cash
30,064
$
Accounts Receivable
28,991
Inventory
108,805
Total Current Assets
167,860
$
Property and Equipment
Furniture & Fixtures
3,245.81
Equipment
950,945.76
Vehicles
60,873.98
Building
870,000.00
Building Improvements
33,789.32
Accumulated Depreciation
(681,335.72)
Total Property and Equipment
1,237,519
$
Other Assets
Loan Costs
8,517
Accumulated Amortization-Loan
(7,300)
Investment - Biocor
20,000
Total Other Assets
21,217
$
Total Assets
1,426,596
$
LIABILITIES AND CAPITAL
Current Liabilities
Accounts Payable
509,566
Short Term Note Payable
100,000
Total Current Liabilities
609,566
$
Long-Term Liabilities
Long-Term Debt
715,064
The ISSUED AND OUSTANDING SHARES for Naturally
Iowa, Inc. (NLIA) as of 6/30/2010 is:
Balance Sheet
June 30, 2010
247,510,962
Notes Payable
306,813
Total Long-Term Liabilities
1,021,877
$
Total Liabilities
1,631,443
$
Capital
Preferred Stock Par Value
1,900
Common Stock Par Value
247,511
Capital in excess of par
1,000,534
Retained Earnings
(1,671,190)
Appraisal Surplus
369,534
Net Income
(153,136)
Total Capital
(204,847)
$
Total Liabilities & Capital
1,426,596
$
2nd Qtr 2010
Year to Date
Revenues
Sales
85,263
$
110,430
$
Other Income
1,819
5,748
Total Revenues
87,082
$
116,178
$
Total Cost of Sales
$76,009
$82,975
Gross Profit
11,072
$
33,203
$
Expenses
Wages Expense
$0
$0
Contracted Services
$38,633
$75,134
Commissions
$250
$250
Dues & Fees
$3,066
$3,998
Bank Service Charge Expense
$274
$329
Finance Charges
$565
$1,243
Board of Directors Expense
$0
$200
Insurance
-$209
$7,072
Worker's Comp Insurance Exp
-$531
$102
Interest
$14,299
$25,725
Legal & Professional
$30,050
$33,765
Meals & Entertainment
$387
$477
Office Expense
$1,577
$2,574
Property Tax
$706
$1,207
Postage/Shipping/Freight
$1,975
$2,763
Repairs & Maintenance
$0
$90
Telephone
$1,611
$2,802
Marketing/Website/Advertising
$4,216
$6,195
Travel
$5,936
$9,783
Utilities
$589
$1,410
Research & Develop Expense
$8,653
$8,653
Depreciation Expense
0.00
2,565
$
Naturally Iowa Inc.
Income Statement
For the Six Months Ending June 30, 2010
