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d. Prepare a multistep income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for year 2.
d. Prepare a multistep income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for year 2. (Statement of Cash Flows only, items to be deducted must be indicated with a minus amount.) REDD COMPANY Income Statement For the Year Ended December 31, Year 2 Net sales Cost of goods sold Gross margin 0 Operating expenses 0 Nonoperating items Gain on sale of land Interest revenue Net income $ 0 REDD COMPANY Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 2 Beginning common stock Plus: Stock issued $ 0 Beginning retained earnings Plus: Net income Ending retained earnings Total stockholders' equity 0 $ 0 REDD COMPANY Balance Sheet As of December 31, Year 2 Assets Accounts payable Total assets $ 0 Liabilities Stockholders' Equity 0 Total stockholders' equity Total liabilities and stockholders' equity $ $ 0 REDD COMPANY Statement of Cash Flows For the Year Ended December 31, Year 2 Cash flow from operating activities Cash inflow from sale of land Net cash flow from operating activities Cash flows from investing activities $ 0 Cash flows from financing activities 0 Ending cash balance $ 0
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