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help on b & c! 453 - Chapter 4 Balance Sheet and Financial Reporting O Cambridge Business Publishers Probiem 4-65 Preparing an ficcome stitement, Batarce
help on b & c!
453 - Chapter 4 Balance Sheet and Financial Reporting O Cambridge Business Publishers Probiem 4-65 Preparing an ficcome stitement, Batarce Shect. and a Subsequent Event Note Disclosure LO2, 3 Following are accounts and balances, in random order, from the adjusted trial balance of Deek Corp, at December 31. Debits equal credits, all amounts are correct, all accounis have normal balances, and a perpetual FIFO Required a. Prepare a single-step income statement including the earnings per share disclosure. b. Prepare a classified balance sheet. c. Assume that between December 31 and issuance of the financial statements, a flood damaged the finished goods inventory in an amount estimated to be $20,000. This event has not been (and should not have been) recognized in the current year statements. However, disclosure in the current year's statements is required. Prepare the necessary disclosure Step by Step Solution
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