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May need some help on this question. Please include a trial balance if possible thank you. Listed below are the accounts for Langara, Inc. and
May need some help on this question. Please include a trial balance if possible thank you.
Listed below are the accounts for Langara, Inc. and their balances as at 12/31/21. 200,000 80,000 46,000 Accounts Payable Accounts Receivable Accumulated Amortization Advertising Expense Amortization Building Cash 19,000 26,000 300,000 105,000 Common Shares 250,000 Cost of Goods Sold 500,000 20,000 140,000 5,000 Dividends Payable Equipment Interest Expense Inventory Notes Payable, Long-Term Preferred Shares 120,000 10,000 50,000 75,000 55,000 825,000 60,000 100.000 Rent Expense Retained Earnings Sales Salaries Payable Salary Expense Tax Expense Taxes Payable Utilities Expense Warranty Expense Warranty Liability 18.000 9,000 40,000 15,000 18,000 The beginning balance of Retained Earnings was $98,000 and of Common Shares was $200,000. Langara, Inc. issued Common Shares of $50,000 during the year. Required: Prepare a classified income statement and a statement of changes in equity for the year, along with a classified balance sheet as of the end of the year
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