Create the Q3 income statement and the Q3 ending balance sheet.
Create a SCF for Quarter 3.
Round up the numbers - no decimal points
Your report should present the IS, BS and SCF and should be on ONE page
You have to use Excel to complete the assignment. Hand written work is unacceptable

Income Statement
	Quarter 3
Sales	$4,500
COGS	$1,620
SG&A	$600
Dep Exp	$250
Operating Profit	$2,030
Interest Expense	$64
Income Before Tax	$1,966
Provision For Tax	($327)
Net Income	$1,639
Dividends	($182)
Retained Earnings	$1,457

The balance sheet has to be equal to the liabilities and equity.

Balance Sheet
Asset		Quarter 2	Quarter 3
Cash		$11,300	$11,300
Account Receivable		$1,000	$1,000
Inventory
	Parts	$600	$600
	Finish Goods	$6,000	$6,000
Total Current Asset		$18,900	$18,900
Warehouse		$0	$20,000
Total Assets		$18,900	$38,900

Liabilities & Equity
		Quarter 2	Quarter 3
Account payable		$500	$500
Tax Payable		$0	$327
Long term debt		$8,000	$20,000
Total Liability		$8,500	$20,500
Common Stock		$4,000	$4,000
Retained Earnings		$1,400	$1,457
Paid-in-Surpus		$5,000	$5,000
Total Liabilities & Equity		$18,900