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2. Below are the expenses, revenues, assets, and liabilities of ABC Inc. as of 31 December 2020 listed in the mixed form. Prepare the INCOME
2. Below are the expenses, revenues, assets, and liabilities of ABC Inc. as of 31 December 2020 listed in the mixed form. Prepare the INCOME STATEMENT and the BALANCE SHEET. Current year depreciation expenses are included in the cost of sales, general administrative, and marketing expenses. Provision for taxes should be placed as a minus item in the income statement and also included among the liabilities in the balance sheet. Accrued Expenses Payable Financial Expenses Profit Reserves Cash & Cash Equivalents Trade Receivables Accumulated Depreciation Interest Income Provision for Taxes Marketing Expenses Marketable Securities Provision for Doubtful Receivables Short Term Bank Credits Cost of Sales Prepaid Expenses Expenses for Provisions Franchise Rights Long Term Bonds (issued by the company) Inventory Buildings Investment in Associated Companies Accumulated Amortisation Trade Payables Issued Capital Net Sales Dividend Income Machinery and Equipment Research & Development Expenses General Administrative Expenses
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