The work sheet from Application Problem 4-3 is needed to complete this problem.

1. Prepare departmental margin statements for AllSports Center’s Clothing Department and Equipment Department. Calculate and record the component percentages for each item on the statements. Round percentage calculations to the nearest 0.1%.

2. Prepare an income statement for AllSports Center. Calculate and record the component percentages for each item on the statements. Round the percentage calculations to the nearest 0.1%.

3. Prepare a statement of stockholders’ equity. Use the following additional information:

4, Prepare a balance sheet.

Data from Problem 4-3

AllSports Center is a merchandising business that sells sports clothing and equipment. AllSports Center’s December 31 trial balance is recorded on a 12-column work sheet in the Working Papers. The following adjustment information is available:

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January 1 balance of capital stock account (1,000 shares issued for $100.00 per share) No additional capital stock issued. January 1 balance of retained earnings account Dividends declared during current quarter $100,000.00 68,372.00 12,000.00