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(do not mind the answers in the second pic. still fill in correct) Affordable Lawn Care, Inc., provides lawn-mowing services to both commercial and residential
(do not mind the answers in the second pic. still fill in correct)
Affordable Lawn Care, Inc., provides lawn-mowing services to both commercial and residential customers. The company performs adjusting entries on a monthly basis, whereas closing entries are prepared annually at December 31 . An adjusted trial balance dated December 31, current year, follows. Required: a-1. Prepare an income statement for the year ended December 31, current year. a-2. Prepare a statement of retained earnings for the year ended December 31, current year. a-3. Prepare the company's balance sheet dated December 31, current year. b. Prepare the necessary year-end closing entries. c. Prepare an after-closing trial balance. d. Using the financial statements prepared in part a, briefly evaluate the company's profitability and liquidity. Complete this question by entering your answers in the tabs below. Using the financial statements prepared in part a, briefly evaluate the company's profitability and liquidity. (Round your percentage .1234 should be entered as 12.3 )) Step by Step Solution
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