A)Prepare a multiple step income statement for Liberty Company for the year ended December 31, 2021.

B)Prepare a classified balance sheet for Liberty Company as of December 31, 2021. Show computation for retained earnings. ( Hint:Dividends resuce retained earnings)

C) Prepare the closing entries for Liberty Company for the year ended December 31, 2021.

D) Prepare a single step income statement for Liberty Company for the year ended December 31, 2021.

E) Compute EPS assuming 50,000 shares of common stock are outstanding. Show computation.

insert Draw Layout Review View Problem 1 The adjusted trial balance for Liberty Company at December 31, 2021, is presented below Credit Debit 10,500 150,000 5,000 25,000 300,000 Cash Accounts receivable Prepaid rent Inventory Equipment Accumulated depreciation-equipment Accounts payable Notes payable-due in three months Salaries payable Interest payable Common stock Retained earnings Dividends Sales revenue Costs of goods sold Salaries expense Rent expense Depreciation expense Interest expense Advertising expense Totals 125,000 30,000 30,000 4,000 9,000 200,000 50,000 8,000 400,000 180,000 120,000 15,000 30,000 2,000 2.500 848,000 848,000 a) Prepare a multiple step income statement for liberty Company fort