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Assume all account balances are their normal balances. (All assets are deblt balonces etc) Lddirional information: - The compony isaed $5,02a in comwon shares during
Assume all account balances are their normal balances. (All assets are deblt balonces etc) Lddirional information: - The compony isaed $5,02a in comwon shares during dhe ycar - This is the compamy's second year of operations Required: A. Prepare the trial balance for Flounder's Friends for the year ended December 31, 2022. B. Prepare an income statement for the year ended December 31, 2022. C. Prepare the statement of changes in equity for the year ended December 31, 2022. D. Prepare the balance sheet as of December 31, 2022 for Flounder's Friends Limited. E. Based on the financlal statements prepared did Flounder's Friends' retained earnings increase or decrease during the year
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