HELP!! keep same format please
The following lat of accounts was drawn tom the accounts of Litte Grocery Suppher (LGS) as of December 31. Yeat 1 Transactions for Vear 2 1. Actured an addivenal $10000 cash from the ssue of commen stock. 2. Purchsied $58.900 of itvectery on account. 3 Sold inventory thet cost $60,800 for $94,100. Sales weie made on acceunt. 4 The company wrote off $1,100 of uncolectible accounts. 5. On September 1, LGS loaned $9500 to Eden Ca. The note had an 5 petcent imerest rate and a one-year term 6. Paid 516390 cash for operating eapenses. 7. The company colected $72,470 cash from accounts receivatie. 8. A cash peymetit of 550.820 was paid on accounts peyable. 9. The compary paid a 54,600 cash dividend to the stockitolders 10 . Uncolecible accounts are etimuted to be 1 percent of tales or account 11. Fectorded the ncerved incerest at December 31, Year 2 tiee aem 5k. Aeouired a. Organize the transaction data in accountr under an accounting equetion b. Prepore ac incone stetement, a statement of changes in stockholders' equly a baibnce sheet and a stasement of cash fows for Vear? 2 Complete this auestien by entering your anwwers in the tabs below. The following list of occounts wos drawn from the eccounts of Littie Grocery Suppier (2GS) as of December 31. Year 1: Trensections for Year 2 1. Acquired an additional $10,000 cash from the issue of common stock. 2. Purchased $58,900 of inventory on account 3. Sold inventory that cost $60,800 for $94100. Sales were made on account. 4. The company wrote off $1100 of uncollectble accounts 5. On September 1, LGS loaned $9,500 to Eden Co. The note had an 5 percent interest rate and a one-year term. 6. Paid $16,390 cash for operating expenses. 7. The company collected 572,470 cash from accounts receivable. 8. A cash payment of $50,820 was paid on accounts payoble. 9. The company paid a $4,600 cash dividend to the stockholders. 10. Uncollectible accounts are estimated to be 1 percent of sales on account. 12. Recorded the accrued interest at December 31. Year 2 (see item 5). Required a. Organize the transiction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of c Year 2 Complete this question by entering your answers in the tabs below. Prepare an income statement for Year 2. (Enter all finsl answers in whole dollars.) The following list of accounts was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 1 : Transactions for Year 2 1. Acquired an additional $10,000 cash from the issue of common stock. 2. Purchased $58,900 of inventory on account. 3. Sold inventory that cost $60,800 for $94,100. Sales were made on account. 4. The company wrote off $1,100 of uncollectible accounts. 5. On September 1, LGS loaned $9,500 to Eden Co. The note had an 5 percent interest rate and a one-year term. 6. Paid $16,390 cash for operating expenses. 7. The company collected $72,470 cash from accounts recelvable. 8. A cash payment of $50,820 was paid on accounts payable. 9. The company paid a $4,600 cash dividend to the stockholders: 10. Uncollectible accounts are estimated to be 1 percent of sales on account. 11. Recorded the accrued interest at December 31, Year 2 (see item 5). Required a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 2 . Complete this question by entering your answers in the tabs below. Prepare a statement of changes in stockholders' equity for Year 2. (Enter all final answers in whole dollars, Enter cash outflows with a minus sign.) Transactions for Year 2 1. Acquired an additionel $10,000 cash from the issue of common stock 2. Purchased $58,900 of inventory on account. 3. Sold inventory that cost $60,800 for $94,100. Ssies were made on account. 4. The company wrote off 51,100 of uncollectible accounts 5. On September 1, LGS loahed $9.500 to Eden Co. The note had an 5 percent interest rate and a one-year term. 6. Paid $16,390 cash for operating expenses. 7. The company collected $72,470 cash from accounts recewable. 8. A cash payment of $50,820 was paid on accounts payabie. 9. The company paid a $4,600 cosh dividend to the stockholders 10. Uncollectble sccounts are estimated to be 1 percent of siles on account. 11. Recorded the sccrued interest at December 31, Year 2 (see item 5). Required a. Organize the transoction dsts in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders equity, a balance sheet, and a statement of c Year 2 Complete this question by entering your answers in the tabs below. Prepare a balance shect for Year 2. (Be sure to list the astets in the order of their biuidity, Enter all final answers in whel dollars.) Transactions for Year 2 1. Acquired an additional $10,000 cash from the issue of common stock. 2. Purchased $58,900 of inventory on account. 3. Sold inventory that cost $60,800 for $94,100. Sales were made on account. 4. The company wrote oft $1,100 of uncollectible accounts. 4. The company wrote oft $1,100 of uncollectibie accounts. 6. Paid $16,390 cash for operating expenses. 7. The company collected $72,470 cash from accounts receivable. 8. A cash payment of $50,820 was paid on accounts payabte. 9. The company paid a $4,600 cash dividend to the stockholders. 10. Uncollectible accounts are estimated to be 1 percent of sales on account. 11. Recorded the accrued interest at December 31, Year 2 (see item 5). Required a. Organize the transaction data in accounts under an accounting equation. a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 2 . Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for Year 2. (Enter cash outflows with a minus sign, Enter all final answers in whole dollars.)
