Refer to the trial balance for Asian Importers prepared in P3-9B. In addition to this information, note that during the year, common shares in the amount of $12,900 were issued and $6,300 of the mortgage is currently due.
P3-9B

Instructions
Prepare an income statement, statement of changes in equity, and statement of fi nancial position for the year. Record and post transactions; prepare trial balance.

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Goodwill Income tax expense Interest expense Land Merchandise inventory Accounts payable s 46,300 30,200 13,000 $ 7,600 14,000 2,150 42,500 74,250 19,750 67,750 12,200 3,950 37,050 370,000 Accounts receivable Accumulated depreciation-buildings Accumulated depreciation-equipment 3,600 Building% 39,500 0,050 Mortgage payable 6,000 Bank loan payable (due 2018) Cash Office expense Other current liabilities Prepaid insurance Retained earnings, February 1, 2014 Sales 32,900 244,200 Common shareS Cost of goods sold 1,850 10,900 Dividends Equipment