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Please help me with this. Thank you for all your help answering my questions, I appreciate it, I shared this site to co students friends.

Please help me with this.

Thank you for all your help answering my questions, I appreciate it, I shared this site to co students friends.

Below is the unadjusted trial balance of Yummy-Licios Ice Cream, Inc. at the end of the first quarter of its second year of operation (January 1- March 30, 2022).

Kindly prepare the following:

  1. income statement
  2. statement of retained earnings
  3. balance sheet
  4. a paragraph stating an evaluation of the company's performance and financial status during the indicated period. State whether : a. the business is profitable b. is able to pay its current obligations/liabilities c. its assets are financed more by debts or equity d. its retained earnings increased or decreased during the quarter and why.
  5. Justify your evaluation and support discussion with calculations or ratios. image text in transcribed
Yummy -Licios Ice Cream Unadjusted Trial Balance At March 30, 2022 Cash $17,000.00 Accounts Receivable $600.00 Prepaid Rent $7,300.00 Equipment $9,700.00 Trademark $9,700.00 Accounts Payable $10,800.00 Deferred Revenue $400.00 Notes Payable (Long-term) $20,000.00 Common Stock $10,000.00 Retained Earnings, Jan. 1, 2022 $1,100.00 Dividends $300.00 Sales Revenue $11,300.00 Cost of ingredients $4,500.00 Salaries and Wages $3,200.00 Utilities Expense $700.00 Advertising Expenses $600.00 \begin{tabular}{l|l|l} TOTAL & $53,600.00 & $53,600.00 \end{tabular}

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