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Please help i'll rate your answer! 3-5. (Working with an income statement and balance sheet) Prepare a balance sheet and income statement for Belmond, Inc.
Please help i'll rate your answer!
3-5. (Working with an income statement and balance sheet) Prepare a balance sheet and income statement for Belmond, Inc. from the following information. Inventory $ 6,500 Common stock 45,000 Cash 16.550 Operating expenses 1,350 Short-term notes payable 600 Interest expense 900 Depreciation expense 500 Net sales 12,800 Accounts receivable 9,600 Accounts payable 4,800 Long-term debt 55,000 Cost of goods sold 5,750 Buildings and equipment 122,000 Accumulated depreciation 34,000 Taxes 1,440 General and administrative expense 850 Retained earnings kerer wo a balance sheet and Tricome Statement in the texbook to know what portion of the statement needs to be summed together. You are building a financial statement. Arrange the line items below to the correct Financial Statement. Using the "Accounting Equation" solve for Retained Earnings Label each cell with the Enter the line item name and enter dollar the dollar amount where amount from indiated by $. the question. Balance Sheet $0 Enter the Label each cell with the dollar line item name and amount enter the dollar amount from the where indiated by $. question. Income Statement $0 $0 $0 $0 $6,500 45,000 16,550 1,350 600 900 $0 $0 $0 $0 500 $0 Inventory Common Stock Cash Operating Expenses Short-term notes payable Interest Expense Depreciation Expense Net sales Accounts Receivable Accounts Payable Long-term Debt Cost of goods sold Buildings and Equipment Accumulated Depreciation Taxes General and administrative expenses Retained Earnings $0 $0 $0 12,800 9,600 4,800 55,000 5,750 122,000 34,000 1,440 850 $0 $0 $0 $0 $0 $0Step by Step Solution
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