below] The following information applies to the questions displayed below.] The following post-closing trial balance was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 2 Dec 7 $ Cash Accounts receivable Allowance for doubtful accounts Inventory Accounts payable Common stock Retained earnings 5,940 16,850 1,705 24,860 10,490 21,400 14,055 Transactions for Year 3 3. Sold inventory that # 51 240 of uncollectible account had an 6 percent in 1. Acquired an additional $10,700 cash from the issue of common stock 2. Purchased $59,000 of Inventory on account. 3. Sold Inventory that cost $60,400 for $93.000. Sales were made on account. 4. The company wrote off $1,240 of uncollectible accounts. 5. On September 1, LGS loaned $9,500 to Eden Co. The note had an 6 percent interest rate and a one- year term. 6. Paid $14,850 cash for operating expenses 7. The company collected $72,270 cash from accounts receivable. 8. A cash payment of $53,600 was paid on accounts payable. 9. The company paid a $5,400 cash dividend to the stockholders 10. Uncollectible accounts are estimated to be 2 percent of sales on account 11. Recorded the accrued interest at December 31. Year 3 (see item 5) Required information LITTLE GROCERY SUPPLIER (LGS) Accounting Equation for the Year 3 = Liabilities + Notes Interest Accounts ReceivableReceivable Payable Assets Merchandise Receivable - Allowance Inventory Event Accounts Stockholders' Equity Common Retained S tock Earnings Cash + + + + + + + 1111111 + + 7. 8. 9 10 11. Bal0 + 0 - 0 L 0.00 LITTLE GROCERY SUPPLIER (LGS) Accounting Equation for the Year 3 = Liabilities + N otes Interest Accounts Receivable Receivable Payable Stockholders' Equity Common Retained S tock Earnings dise try Accounts Titles for Retained Earnings - 1 0.00 0 Req B Inc Stmt Req B Stmt SE Req B Bal Sheet Req B Stmt Cash Flows Prepare an income statement for Year 3. (Enter all final answers in whole dollars.) LITTLE GROCERY SUPPLIER (LGS) Income Statement For the Year Ended December 31, Year 3 Expenses under Total expenses Operating income V OLG yucLURRY LEE yu . # LE LUB Urve. Req B Inc Stmt Req B Stmt SE Req B Bal Sheet Req B Stmt Cash Flows Prepare a statement of changes in stockholders' equity for Year 3. (Enter all final answers in whole dollars. Enter with a minus sign.) LITTLE GROCERY SUPPLIER (LGS) Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 3 Beginning common stock Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity Required information Balance Sheet As of December 31, Year 3 Assets Total assets Liabilities Total liabilities Stockholders' equity Total stockholders' equity Total liabilities and stockholders' equity LITTLE GROCERY SUPPLIER (LGS) Statement of Cash Flows For the Year Ended December 31, Year 3 Cash flows from operating activities Net cash flow from operating activities Cash flows from investing activities: TAMAN UTAMA MAANA ALAMAT Cash flows from financing activities Net cash flows from financing activities Net change in cash Ending cash balance