E1-3			RAKE COMPANY
			Balance Sheet
			December 31, 2001
			Assets
Cash	$18,500.00
Accounts Receivable	$10,000.00
Supplies	$8,000.00
Equipment	$44,000.00
Total Assets	$80,500.00
			Liabilities and Stockholders Equity
Liabilities
Accounts Payable	$20,000.00
Total Liabilities	$20,000.00
Stockholders's Equity
Common Stock	$40,000.00
Retained Earnings	$27,500.00
Total Stockholder's Equity	$67,500.00
Total Liabilities and Stockholders's Equity	$87,500.00