A junior accountant is working to get everything in order for the new financing and has come to you with a question about what do next in the accounting cycle.

Read the email the junior accountant sent you and identify the best next step to take in the accounting cycle. Explain your reasoning.

I wanted to provide you some guidelines as you determine how well finance our expansion. Please give this careful consideration, as we need to get this right.

I estimate well need $150,000 to increase capacity in order to stock the five additional pop-up stands

Well need to make sure we have additional funds available to increase our marketing efforts to stimulate demand

Id like to maintain or increase our profit margins

If were successful over the next two years, well likely seek additional capital to expand into more stores, so Id like to do all we can now to enhance our credibility

JUNIOR ACCOUNTANT EMAIL

Hi,

Im working on expenses from the last quarter for the revised income statement, but Im unsure of what to do next. I grouped similar transactions to compile the following list:

inventory purchases marketing expenses payroll expenses interest expenses technology purchases

automotive maintenance cost travel expenses training and development costs office rent raw material purchases

office supplies expenses

How would you like me to proceed given where we are in the process? Thanks in advance for your guidance.