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ordan Sales Company (organized as a corporation on April 1, 2017) has completed the accounting cycle for the second year, ended March 31, 2019. Jordan
ordan Sales Company (organized as a corporation on April 1, 2017) has completed the accounting cycle for the second year, ended March 31, 2019. Jordan also has completed a correct trial balance as follows:
Required: Complete the financial statements as follows: a. Classifled (multiple-step) income statement for the reporting year ended March 31, 2019. Include income tax expense, assuming a 4 percent tax rate. (Round your "Earnings per share" to 2 decimal places.) b. Classified balance sheet at the end of the reportinq vear, March 31. 2019. Include (1) income taxes for the current year in Income thould be indicated by a minus sign.)Step by Step Solution
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