P11-61A. (Learning Objectives 2, 4, 5, 6: Preparing an Income Statement, Balance Sheet, and statement of cash flows—direct method) Use the Antique Automobiles of Dubai, Inc., data from Problem 11-60A.

Requirements 1. Prepare Vintage’s Income Statement for the year ended December 31, 20X6.

2. Prepare Vintage’s Balance Sheet at December 31, 20X6.

3. Prepare Vintage’s statement of cash flows for the year ended December 31, 20X6. Format cash flows from operating activities by using the direct method.

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