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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:
- income statement
- statement of retained earnings
- balance sheet
- 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.
- Justify your evaluation and support discussion with calculations or ratios.
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