P 3-2 The following information was obtained from the accounts of Lukes, Inc., as of

December 31, 2012. It is presented in scrambled order. Must pass Turnitit

P 3-2 The following information was obtained from the accounts of Lukes, Inc., as of December 31, 2012. It is presented in scrambled order. Common stock, no par value, 10,000 shares authorized, 5,724 shares issued $ 3,180 Retained earnings 129,950 Deferred income tax liability (long term) 24,000 Long-term debt 99,870 Accounts payable 35,000 Buildings 75,000 Machinery and equipment 300,000 Land 11,000 Accumulated depreciation 200,000 Cash 3,000 Receivables, less allowance of $3,000 58,000 Accrued income taxes 3,000 Inventory 54,000 Other accrued expenses 8,000 Current portion of long-term debt 7,000 Prepaid expenses 2,000 Other assets (long term) 7,000 Required Prepare a classified balance sheet in report form. For assets, use the classifications of current assets, plant and equipment, and other assets. For liabilities, use the classifications of current liabilities and long-term liabilities. P 4-3 The accounts of Consolidated Can contain the following amounts at December 31, 2012: Cost of products sold $410,000 Dividends 3,000 Extraordinary gain (net of tax) 1,000 Income taxes 9,300 Interest expense 8,700 Other income 1,600 Retained earnings, 1/1 270,000 Sales 480,000 Selling and administrative expense 42,000 Required Prepare a multiple-step income statement combined with a reconciliation of retained earnings for the year ended December 31, 2012