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CFA Level 1
Financial Reporting and Analysis

Calculating Total Assets from Maria's Bakery Balance Sheet

Easy Financial Statements Balance Sheet

Maria's Bakery is a small business that prepares delicious pastries and cakes. At the end of the fiscal year, Maria prepares her balance sheet to capture the financial position of the bakery. During the preparation, she identifies several key items:

- Cash: $10,000

- Accounts Receivable: $5,000

- Inventory (Baked Goods): $3,000

- Equipment: $15,000

- Accounts Payable: $4,000

- Owner's Equity: $29,000

Based on this information, what is the total amount of assets reported on Maria’s Bakery's balance sheet?

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