PRACTICE PROBLEM #3: FINANCIAL STATEMENTS Using the information below from the adjusted trial balance for the Neary Retail Corporation, prepare the company's Income Statement, Retained Earnings Statement and Balance Sheet for their 2006 calendar year. Sales Cash COGS Accounts Payable B Depreciation Expense Notes Payable (Due 2008) Salaries Expense Ending Inventory Dividends Allowance for Uncollectible Accounts Uncollectible Accounts Expense Prepaid Insurance $ 100,000 11,000 30,000 19,000 10,000 40,000 15,000 9,000 1,000 100,000

Practice Problem \# 3: Financial. Statements Using the information below from the adjusted trial balance for the Neary Retail Corporation, prepare the company's Income Statement, Retained Earnings Statement and Balance Sheet for their 2006 calendar year