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Hello can anyone please help me with these. thank you! Using the information provided on the Account Information sheet complete the following Financial Statments for
Hello can anyone please help me with these. thank you!
Using the information provided on the Account Information sheet complete the following Financial Statments for Reed Geophysical Inc. for 2020 1. Statement of Income 2. Statement of Comprehensive Income 3. Statement of Changes in Equity 4. Statement of Financial Position Reed Geophysical Inc. Statement of Income For the year ended December 31, 2020 Revenue Cost of sales Purchases Gross Profit Other income Expenses Administrative expenses Distribution costs Total Finance costs Total Profit before taxes Income tax expense Profit for the year Reed Geophysical Inc. Statement of Comprehensive Income For the year ended December 31, 2020 this should be subtracted this should be subtracted Reed Geophysical Inc. Statement of Changes in Equity For the year ended December 31, 2020 As at December 31,2020 (in \$) Assets Non-current assets Property, plant, and equipment Decrease in property revaluation Total non-current assets Current assets Inventories Trade Receivables Prepaid expenses Cash and cash equivalents Total current assets Total assets Equity and liabilities Equity Contributed equity Share capital Retained earnings Other Comprehensive Income/Loss Total equity Non-current liabilities Current liabilities Trade and other payables Short-term borrowings Current position of long-term borrowings Total current liabilities Total liabilities Total equity and liabilities Step by Step Solution
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