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Hello Financial Accounting question here. Below is a list of balances taken from the ledger of LAKELAND CORPORATION at July 31, 2017. Cash $1,610,000 Marketable

Hello Financial Accounting question here.

Below is a list of balances taken from the ledger of LAKELAND CORPORATION at July 31, 2017.

Cash $1,610,000
Marketable Securites 510,000
Accounts Recievables, net 4,075,000
Inventories, at lower of cost or market 7,250,000
Prepaid expenses 125,000
Plant and equipment, at cost:
Land and Buildings 13,500,000
Machinery and Equipment 9,250,000
Accumulated depreciation - plant assets 13,470,000
Long Term receivables 250,000
Deferred Charges 25,000
Accounts payable 2,950,000
Accrued expenses 1,575,000
Federal Taxes Payable 875,000
Current maturities on long-term debt 500,000
5% sinking fund debentures due January, 2029 ($500,000 redeemable annually) 5,000,000
Deferred Taxes on income, due to depreciation 350,000
Preferred stock, $1 cumulative, $20 par, preference on Liquidation $100 per share (authorized 100,000 shares; Issued and outstanding: 50,000 shares) 1,000,000
Comon stock, $1 par (authorized: 900,000 shares; Issues and outstanding: year 5, 550,000 shares; year 4, 500,000 shares) 550,000
Paid-in captial in excess of par value on common stock 3,075,000
Retained Earnings, beginning of year 7,965,000
Dividends declared and paid:
Preferred stock, $1 per share in cash 50,000
Common stock, $1 per share in cash 525,000
Stock dividend: common stock, (10%) - 50,000 shares at market value of $50 per share 2,500,000
Net Sales 48,400,000
Revenues from royalties 70,000
Interest revenues 30,000
Cost of sales 31,460,000
Selling, general and administrative expenses 12,090,000
Interest on 5% signing fund debentures 275,000
Provision for federal income taxes 2,315,000

1. Prepare a Trial Balance for Lakeland Corporation at December 31, 2017.

2. Prepare a muliple-step income statement for lakeland corporation for year Ended December 31, 2017.

3. Prepare a classified balance sheet for Lakeland Corporation at December 31, 2017. Include retained earnings statement that shows dividends.

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