Statement of Financial Position At December 31, 2014 (in thousands of euro) Assets Goodwill and intangible assets 1,210 Less: Accumulated depreciation (2,240) Total non-current assets (1,030) Current assets: Cash 5,300 Inventory 1,800 Total current assets 7,100 Total assets 6,070 Equity and Liabilities Shareholders’ equity: Contributed capital 400 Total shareholders’ equity 400 Total non-current liabilities 0 Current liabilities: Total current liabilities 0 Total liabilities 0 Total liabilities and shareholders’ equity 400 Glücklich Golfspieler (GG) is a golf club company headquartered in Germany. The company began its 2014 fiscal year with assets totalling 10.0 million euro but ended the year (on December 31, 2014) with total assets of 13.2 million euro. Account balances on December 31, 2014, appear below (in thousands of euro). Accounts Payable 900 Accounts Receivable 460 Accrued Liabilities 990 Accumulated Depreciation 2,240 Buildings and Equipment 5,600 Cash 5,300 Contributed Capital 400 Goodwill and Intangible Assets 1,210 Inventory 1,800 Land 190 Notes Payable, due 2016 735 Other Long-Term Liabilities 1,325 Other Noncurrent Assets 540 Prepaid Expenses 340 Profit for the Year (Net Income) 4,000 Retained Earnings, Jan. 1, 2014 4,850 Sales Revenues 38,000 1. Prepare a statement of financial position at December 31, 2014
