1.Create company's multi-step income statement for the

year ended

12/31/18

2.Create the retained earnings statement for the year ended 12/31/18.

3.Create the

classified

balance sheet

dated

12/31/18

4. a simple sentence

about what the business sells.

Hints and reminders:

Make sure the statements 'flow' with each other.

Be sure to start the income statement with

Net Sales.

Be sure to include a line for

Operating Income and an item for the Other

Revenue/Expense (Interest expense or Interest revenue) section of the

income statement.

Be sure to include Inventory

as a current asset on your balance sheet and CGS

on the income statement!!

Be sure to include Accumulated Depreciation on the balance sheet if their is

Depreciation expense

on the income statement.

Be sure to have an amount in the

common stock

account.

Are not required to pay dividends.

This will just be 'making up' amounts for the created business can be as successful as

like. Just make sure the balance sheet balances!

Hand in:

1.The three statements created

2.The sentence describing what the company sells