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Complete this question by entering your answers in the tabs below. Prepare a statement of changes in stockholders' equity for Year 2. (Enter all final
Complete this question by entering your answers in the tabs below. Prepare a statement of changes in stockholders' equity for Year 2. (Enter all final answers in whole dollars. Enter cash outflows with a minus sign.) rganize the transaction data in accounts under an accounting equation. (Do not round intermediate calculations. Enter any decreases to account balances with a mir tles for Retained Earnings, leave the cell blank. Not all cells will require entry. Round your final answers to the nearest whole dollar.) a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 2. \begin{tabular}{|l|r|r|} \hline \multicolumn{2}{|c|}{ LITTLE GROCERY SUPPLIER (LGS) } \\ \hline \multicolumn{2}{|c|}{ As of December 31, Year 2 } \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total assets & & \\ \hline Liabilities & & \\ \hline & & \\ \hline & & \\ \hline Total liabilities & & \\ \hline Stockholders' equity & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Total stockholders' equity & & \\ \hline Total liabilities and stockholders' equity & & \\ \hline \end{tabular} Complete this question by entering your answers in the tabs below. Prepare an income statement for Year 2. (Enter all final answers in whole dollars.) The following list of accounts was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 1: Transactions for Year 2 1. Acquired an additional $9,400 cash from the issue of common stock. 2. Purchased $60,400 of inventory on account. 3. Sold inventory that cost $61,600 for $93,400. Sales were made on account. 4. The company wrote off $1,460 of uncollectible accounts. 5. On September 1, LGS loaned $9,500 to Eden Co. The note had an 7 percent interest rate and a one-year term. 6. Paid $14,350 cash for operating expenses. 7. The company collected $79,000 cash from accounts receivable. 8. A cash payment of $51,940 was paid on accounts payable. 9. The company paid a $4,100 cash dividend to the stockholders. 10. Uncollectible accounts are estimated to be 1 percent of sales on account. 11. Recorded the accrued interest at December 31, Year 2 (see item 5). Prepare a statement of cash flows for Year 2. (Enter cash outflows with a minus sign. Enter all final answers in \begin{tabular}{|l|l|r|} \hline \multicolumn{2}{|c|}{ LITTLE GROCERY SUPPLIER (LGS) } \\ \hline \multicolumn{2}{|c|}{ For the Year Ended December 31, Year 2 } \\ \hline Cash flows from operating activities & & \\ \hline & & \\ \hline & & \\ \hline & & \\ \hline Net cash flow from operating activities & & \\ \hline Cash flows from investing activities: & & \\ \hline & & \\ \hline & & \\ \hline Net cash flow from investing activities & & \\ \hline Cash flows from financing activities & & \\ \hline & & \\ \hline & & \\ \hline Net cash flows from financing activities & & \\ \hline Net change in cash & & \\ \hline & & \\ \hline Ending cash balance & & \\ \hline \end{tabular}
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