Description

Prepare the following IN EXCEL! This is due on December 16, 2017.

(a) a multiple-step income statement,

(b) a statement of owner's equity,

(c) a balance sheet in report form from the following data for Burt Co., taken from the ledger after adjustments on December 31, the end of the fiscal year.

(d) explain your findings in detail about profitability and liquidity. In a sentence form

Accounts Payable	$97,200
Accounts Receivable	64,300
Accumulated DepreciationOffice Equipment	72,750
Accumulated DepreciationStore Equipment	162,100
Administrative Expenses	56,500
Cash	53,000
Cost of Merchandise Sold	121,700
Interest Expense	12,000
Maeve Burt, Capital	81,750
Maeve Burt, Drawing	52,000
Merchandise Inventory	93,250
Note Payable (due in two years)	154,000
Office Equipment	149,750
Prepaid Insurance	6,500
Rent Revenue	17,500
Salaries Payable	28,700
Sales	365,500
Selling Expenses	41,500
Store Equipment	325,000
Supplies	4,000