Name the two Profit and Loss statement accounts where the amount from the current

period is needed to create the Balance Sheet of the same current period. $(2$ pts$)$

a$.$ List the Profit and Loss Statement Account #$1$:

b$.$ List the Profit and Loss Statement Account #$2$:

$3.$ Name the two Balance Sheet accounts that are calculated using information from the

Profit and Loss statement. $(6$pts$)$

o For each balance sheet account identified above, explain the formula you must

use to calculate the correct amounts for the $2021$ Balance Sheet.

o Show your formula and work for this case.

a$.$ List the Balance Sheet Account #$1$:

Explain the linkage formula:

Show your work.

b$.$ List the Balance Sheet Account #$2$:

Explain the linkage formula:

Show your work.