On January 1, 2018 Speedy Motors Inc., began business. The business had several transactions in its...

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On January 1, 2018 Speedy Motors Inc., began business. The business had several transactions in its first year, which can be seen by clicking the icon below. (Click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare Speedy's income statement for the year ended December 31, 2018. Use the single-step format, with all revenues listed together and all expenses together. Speedy Motors, Inc. Income Statement Year Ended December 31, 2018 Revenue: Expenses: Requirement 2. Prepare Speedy's balance sheet at December 31, 2018. Speedy Motors, Inc. Balance Sheet December 31, 2018 Assets Current assets: Current liabilities: Liabilities On January 1, 2018 Speedy Motors Inc., began business. The business had several transactions in its first year, which can be seen by clicking the icon below. (Click the icon to view the transactions.) Read the requirements. Requirement 1. Prepare Speedy's income statement for the year ended December 31, 2018. Use the single-step format, with all revenues listed together and all expenses together. Speedy Motors, Inc. Income Statement Year Ended December 31, 2018 Revenue: Expenses: Requirement 2. Prepare Speedy's balance sheet at December 31, 2018. Speedy Motors, Inc. Balance Sheet December 31, 2018 Assets Current assets: Current liabilities: Liabilities