Year 8. Refer to Exhibit 1.2 for help in designing the format of the statement.

b. Prepare a comparative balance sheet for America Online on June 30. Year 7. and June 30, Year 8. Refer to Exhibit 1 . 1 for help in designing the format of the statement.

c. Prepare an analysis of the change in retained earnings during the year ending June 30. Year 8.

29. Preparing a balance sheet and income statement. The accounting records of Ben and Jerry's Homemade Ice Cream. Inc. (Ben and Jerry's), reveal the following for a recent year (amounts in thousands):

a. Prepare a comparative balance sheet for Ben and Jerry's as of December

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BALANCE SHEET ITEMS Accounts Payable Accounts Receivable Bonds Payable (due Year 20) Cash Common Stock December 31 Year 6 $ 5,219 Year 7 $ 7,873 5.044 6,940 10,313 4,602 796 6,704 6,532 12,959 Inventories 10.083 9,000 Other Current Assets 518 1,091 Other Current Liabilities 2,623 4,249 Other Noncurrent Assets 559 21 Property, Plant, and Equipment 17.299 19,300 Retained Earnings 9.570 13,310 Salaries Payable 42 63 INCOME STATEMENT ITEMS For Year 7 Administrative Expense Cost of Goods Sold Income Tax Expense Interest Expense Sales Revenue Selling Expense $ 4,798 68,500 2,765 736 97,005 16,466