Question
(1) Using the data for Brady and Co. provided in the sheet labeled Trial Balance prepare: Balance Sheet - comparative, classified in proper format for
(1) Using the data for Brady and Co. provided in the sheet labeled "Trial Balance" prepare: Balance Sheet - comparative, classified in proper format for fiscal years 2015 and 2016 Income Statement - multiple-step for fiscal years 2015 and 2016. Include earnings per share data. Statement of Retained Earnings for 2016. Use separate sheets, appropriately named, for each financial statement in good form. List 5 notes that would be required if you were also preparing the notes to these financial statements. Do not prepare the notes, just briefly list the accounts, etc. for which GAAP would require disclosure based on Brady's financial statements. 4 5 Brady and Co. List of Accounts from General Ledger in Alphabetical Order December 31, 2016 (thousands of dollars) 2015 2016 Dr Cr Dr Accounts Payable 999,210 Cr 1,079,837 9 Accounts Receivable 2,943,125 3,245,967 10 Accrued Liabilities - Other 508,643 721,358 11 Accrued Pension Liabilities 650,216 450,356 12 Accrued Restructuring Charges 126,000 13 Accrued Salaries, Wages and Commissions 281,364 14 Accumulated Other Comprehensive Income (Loss) 621,236 15 Accumulated Depreciation - Property, Plant & Equipment 1,829,634 16 Accumulated Post-Employment Benefit Obligation (long-term) 802,316 17 Additional Paid-in Capital, Common Stock 299,304 90,476 350,191 85,000 1,999,999 402,634 299,304 18 Additional Paid-in Capital, Preferred Stock 75 75 19 Allowance for Doubtful Accounts 125,436 124,645 20 Bonds Payable 244,563 249,046 21 Cash and Cash Equivalents 401,236 751,329 22 Common Stock 300,000 284,000 23 Cost of Goods Sold 3,000,235 2,763,584 24 Current Portion of Long-term Debt 720,125 849,869 25 Deferred Tax Assets (current) 62,596 81,236 25 Deferred Tax Liabilities (long-term) 229,000 440,263 27 Depreciation Expense 307,200 311,236 28 Dividends Common 292,351 214,956 29 Dividends Preferred 2,000 945 30 General & Administrative Expenses 1,732,429 1,459,695 31 Goodwill and Other Intangibles 3,212,491 3,212,491 32 Income Taxes Payable 246,002 102,563 33 Interest Expense 201,366 250,000 34 Interest Income 10,126 18,227 35 Investments in unconsolidated affiliated companies 1,235,000 38 Inventories 163,214 1,456,896 224,561 37 Long-term Debt 3,223,713 3,702,700 38 (Loss) Income from Discontinued Operations, net of tax 28,100 39 Preferred Stock 900 7,453 900 40 Prepaid Expenses 141,029 170,296 41 Property, Plant and Equipment 2,943,216 3,936,726 42 Provision for income taxes 245,105 201,636 43 Research and Development Expenses 199,500 496,597 44 Restructuring Charges 199,506 255,013 45 Retained Earnings, beginning 48 Sales 2,960,256 8.430,061 5,173,286 6.526,967 47 Selling Expenses 48 Short-term Investments 49 Treasury Stock, at cost 19,365 20,000 4,472,969 58,890 26,800 4,263,984 50 Unearned Revenues 51 22.443.269 456,325 22.443.269 23.382.838 423,689 23.382.838 52 Net Income (loss) 53 54 Weighted average number of common shares: 55 FY 2016: 56 Basic 57 Diluted 208,448,076 shares 210,348,076 shares 58 FY 2015: 59 Basic 60 Diluted 218,464,140 shares 220,964,140 shares
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