Accrual Accounting and Income Construct the financial statements Suppose Robin Sporting Goods Company reported the following data at July 31, 2018, with amounts in thousands: S Retained earnings, July 31,2017 Accounts receivable Net revenues Total current liabilities All other expenses Other current assets Other assets $ 31,500 34,000 191,000 80,000 29,000 5,000 30,000 Cost of goods sold Cash Property and equipment, net Common stock Inventories Long-term liabilities Dividends 136,800 50,000 19,400 26,000 36,000 11,700 0 Use the blue shaded areas on the ENTERANSWERS tab for inputs. Always use cell references and formulas where appropriate to receive full credit. If you copy/paste from the Instructions tab you will be marked wrong a. b. C a. Requirements 1 Prepare Robin Sporting Goods Company's single-step income statement for the year ended July 31, 2018 Check your spelling carefully and do not abbreviate. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. Enter amounts in thousands, as provided to you in the data. 2 Prepare Robin Sporting Goods Company's statement of retained earnings for the year ended July 31, 2018 Check your spelling carefully and do not abbreviate. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. Enter amounts in thousands, as provided to you in the data. 3 Prepare Robin Sporting Goods Company's classified balance sheet at July 31, 2018, Check your spelling carefully and do not abbreviate. Use the report format for the balance sheet. Enter all amounts as positive values. Do not use a minus sign or parentheses for any values to be subtracted. Enter amounts in thousands, as provided to you in the data. b. C a. b. C d. 1. Prepare Robin Sporting Goods Company's single-step income statement for the year ended July 31, 2018 (Always use cell references and formulas where appropriate to receive full credit. if you copy/ paste from the Instructions tab you will be marked wrong) Sin Thousands 2. Prepare Robin Sporting Goods Company's statement of retained earnings for the year ended July 31, 201 (Always use cell references and formulas where appropriate to receive full credit. If you copy/ paste from the instructions tab you will be marked wrong) Sin Thousands 3. Prepare Robin Sporting Goods Company's classified balance sheet at July 31, 2018. (Always use cell references and formulas where appropriate to receive full credit. If you copy/ paste from the instructions tab you will be marked wrong) Sin Thousands Assets Current Assets Total current assets Total assets abilities Total abilities Stockholders' Equity Total stockholders' equity Total liabilities and stockholders' equity Balance Sheet Robin Sporting Goods Company Year ended July 31, 2018 July 31, 2018 Robin Sporting Goods Company Statement of Retained Earnings Year ended July 31, 2018 July 31, 2018 Income Statement Robin Sporting Goods Company Year ended July 31, 2018 July 31, 2018
