FINANCIAL RESPONSIBILITY TEST
Private, For Profit Schools ONLY

Please enter the amounts for each category. As it is in the form of a balance sheet, it will be easiest if you have your fiancial statements in front of you so that you can copy the various figures directly to the calculation form. Total lines appear in BOLD and do not require an entry on your part.

1. Cash $   
2. Accounts Receivable $   
3. Prepaid Expenses $   
4. Inventories $   
5. Note Receivable from Affiliate $   
6. Investments $   
7. Total Current Assets $   
8. Property and Equipment, net $ 
9. Amount Due from Owner $   
10. Goodwill $   
11. Organization Costs $   
12. Deposits $   
13. Total Assets $   
14. Accounts Payable $   
15. Accured Expenses $   
16. Current Portion of Long-Term Debt $   
17. Deferred Revenue $   
18. Total Current Liabilities $   
19. Long-Term Debts, net of Current Portion** $   
20. Total Liabilities $   
21. Contributed Capital $   
22. Retained Earning $   
23. Total Owner's Equity $   
24. Total Liabilities and Owner's Equity $   
25. Operating Income $   
26. Non-Operating Income $   
27. Total Income $   
28. Cost of Goods Sold $   
29. Administrative Expenses $   
30. Depreciation $   
31. Interest Expense $   
32. Total Expenses $   
33. Other: Gain on Sale of Invesments $   
34. Net Income Before Taxes $   
35. Federal Income Taxes $   
36. Net Income After Taxes $   
37. Extraordinary Loss, of net tax $   
38. Net Income $   
39. Retained Earning, beginning of year $