Can you help me solve this phase?

Guidelines: Phase 2

• Review your peer's financial statements.
• Complete a compilation review of those financial statements in good form.

BOB'S BACON HOUSE, INC. Multi-Step Income Statement For the Period of January 1 - December 31,20XX Sale revenue Net Sales Cost of goods sold Gross profit $1,776,816.00 1,376,900.00 399,916.00 Operating Expense Selling expenses Selling and administrative expenses Bad debts e Depreciation building & equipment S72,475.00 3,836.00 se 56,000.00 132,311.00 Income from Operations 267,605.00 Other revenues and gains Rental income 25,650.00 293,255.00 Other expenses and losses Interest expense Income tax expense 17,415.00 48,160.00 65,575.00 Income before income tax Income tax Income from continuing operations 227,680.00 68,304.00 159,376.00 Discontinued operation Loss on Disposal of Chicago Store 35,800.00 Net Income 123,576.00 BOB'S BACON HOUSE, INC. Statement of Retained Earnings For the Period of January 1 -December 31,20XX Beginning Balance Net Income Ending Balance $127,500 $123,576 S251,076 Grading Rubric-Phase2 Category Points | % Description Performance of a review engagement requires that the accountant perform procedures designed to accumulate review 538evidence that will provide a reasonable basis for obtaining limited assurance that there are no material modifications Review that should be made to the financial statements in order for the statements to be in conformity with the applicable financial reporting framework. List the analytical procedures performed and the results of those procedures Financial statements reviewed by an accountant should be accompanied by a written report. The accountant's objective in reporting on the financial statements is to prevent misinterpretation of the degree of responsibility the accountant is assuming when his or her name is associated with the financial statements. The report should be in accordance with the AICPA standards Financial Statements 50 38 PowerPoint 30 24 Narration Create a narrated PowerPoint covering the procedures performed and your group's findings and a summary of your report recommendations in accordance with AICPA requirements Total 130 100 A quality paper will meet or exceed all of the above requirements BOB'S BACON HOUSE, INC. Multi-Step Income Statement For the Period of January 1 - December 31,20XX Sale revenue Net Sales Cost of goods sold Gross profit $1,776,816.00 1,376,900.00 399,916.00 Operating Expense Selling expenses Selling and administrative expenses Bad debts e Depreciation building & equipment S72,475.00 3,836.00 se 56,000.00 132,311.00 Income from Operations 267,605.00 Other revenues and gains Rental income 25,650.00 293,255.00 Other expenses and losses Interest expense Income tax expense 17,415.00 48,160.00 65,575.00 Income before income tax Income tax Income from continuing operations 227,680.00 68,304.00 159,376.00 Discontinued operation Loss on Disposal of Chicago Store 35,800.00 Net Income 123,576.00 BOB'S BACON HOUSE, INC. Statement of Retained Earnings For the Period of January 1 -December 31,20XX Beginning Balance Net Income Ending Balance $127,500 $123,576 S251,076 Grading Rubric-Phase2 Category Points | % Description Performance of a review engagement requires that the accountant perform procedures designed to accumulate review 538evidence that will provide a reasonable basis for obtaining limited assurance that there are no material modifications Review that should be made to the financial statements in order for the statements to be in conformity with the applicable financial reporting framework. List the analytical procedures performed and the results of those procedures Financial statements reviewed by an accountant should be accompanied by a written report. The accountant's objective in reporting on the financial statements is to prevent misinterpretation of the degree of responsibility the accountant is assuming when his or her name is associated with the financial statements. The report should be in accordance with the AICPA standards Financial Statements 50 38 PowerPoint 30 24 Narration Create a narrated PowerPoint covering the procedures performed and your group's findings and a summary of your report recommendations in accordance with AICPA requirements Total 130 100 A quality paper will meet or exceed all of the above requirements