Please help with this problem. I have attached screen shots for you. I cannot figure out how to do the financial statements.
The following account balances have been taken from the ledger of Virgo , Inc . for the month Ended April 30 , 2017 . Ella Vader is the CEO and President of the company . Virgo is in the* business of manufacturing Escalators and prepares its financial statements on a monthly basis . At the beginning of April of 2017 , the company had the following balances in its accounts : Account Balance at Beginning of Month Accounts Payable 31, 270 Accounts Receivable 24, 380 Accumulated Depreciation - Manuf . Eqp#| 43, 690 Accumulated Depreciation - Office Eapt \\25, 950 Bonds Payable* 300, 000 _ash 12, 480 Common Stock 100, 000 Equipment - Manufacturing 365, 180 Equipment - Office 110,500 Inventory - Raw Materials 16, 430 Inventory - Work in Process 21, 910 Inventory - Finished Goods |45, 570 Retained Earnings 195, 080 Sales Tax Payable* 2, 460 The Work in Process inventory at the beginning of April consists of one escalator , model Illudium Q36 . The Finished Goods inventory at the beginning of April consists of two escalators ; model Gadolinium Z28 with a total cost of $21, 320 and model Curium* 42 with a total cost of $25, 250 .During April of 2017 , Virgo experienced the following events ! 1 1 Purchased raw materials inventory on account for 56 , 482 . 21 Sold escalator Curium* 42 for cash for $32, 560. Virgo uses the perpetual method of accounting for the sale of inventory . This sale was subject to a 5% sales tax . This tax is in addition to the sales price listed above . 3 ) Used $7, 240 of raw materials . $4, 260 was direct and indirect materials for Illudium a36, and 52, 980 was direct and indirect materials for model Heady mium J12 , a new escalator started in April . 41 Paid employees $18, 540 of wages . $4, 520 of this was for office personnel . 56, 280 was direct and indirect labor allocated to Illudium Q35 and $7, 740 was direct and indirect labor allocated to Neody mium $12 . 5 ) Recorded 58, 250 of depreciation on manufacturing equipment . $5, 310 of this was allocated to Illudium Q35 and $ 2, 950 was allocated to Neody mium; 1612 . 5 ) Recorded $3, 250 of depreciation on office Equipment . 71 Paid rent of $ 4, 800. 52, 000 of this was for the administrative offices . $ 2, 800 was for the manufacturing plant . 51, 600 of this 5 2, 800 was allocated to Illudium Q35 and $ 1, 200 was allocated to Neody mium $12 . $ ) Finished Illudium @35 . You will need to compute the total cost of this escalator and move it from Work in Process Inventory into Finished Goods Inventory . I take the beginning Work in Process Inventory and add the amounts listed above for that mode! !* 91 Sold Gadolinium Z28 on account for $ 27, 700 . Again , add 5%` sales tax to this transaction and don't forget to record the Cost of Goods Sold . 10 ) Paid cash for the following expenses for the month ; $730 for insurance , and 5650 for advertising . 1 1) Paid $1, 250 of interest on the Bonds Payable . The corporation makes monthly payments of interest on these bonds on the last day of every month . 12 ) Paid $ 2, 460 of sales tax from March sales* 13) Collected $24, 3 80 from customers on account 14 ) Paid $31, 270 on accounts payable . 15 ) Paid cash dividends of $ 1 , 000 to its shareholders* Use the preceding information to record the transactions and adjusting entries for the month . Then , prepare in good form a multi- step income statement , a statement of changes in stockholders" equity , and a classified balance sheet for the company for the month ended April 30 , 2017 . Also , prepare and submit a Cost of Goods Manufactured and Sold schedule
