Prepare a balance sheet in report form as of December 31, Year 1. You are not required to present the details of Preferred and Common Stock (i.e., number of shares authorized, issued and outstanding). The journal, income statement, and retained earning statement are in the pictures.

	Refer to the Chart of Accounts for exact wording of account titles.
	Refer to the Labels and Amount Descriptions for exact wording of text entries.
	Less , Deduct, Add and colons will appear automatically.
	Available-for-sale investments should be reported as a single asset on the balance sheet, regardless of how many accounts exist in the ledger for such assets.
	Recall that current assets are to be reported in order of liquidity. Available-for-sale investments are considered to be more liquid than accounts receivable.
	Report fixed assets and paid-in capital accounts in account-number order.
	Omit the description of bonds and stocks (i.e., percentage rates, due date, number of shares, etc.)
	Enter all amounts as positive numbers, with one exception: If an unrealized loss has occurred, it must be reported as a negative amount on the balance sheet.

Income Statement data:
Advertising expense	$150,000
Cost of merchandise sold	3,700,000
Delivery expense	30,000
Depreciation expense-office buildings and equipment	30,000
Depreciation expense-store buildings and equipment	100,000
Dividend revenue	4,500
Gain on sale of investment	4,980
Income of Pinkberry Co. investment	76,800
Income tax expense	140,500
Interest expense	21,000
Interest revenue	2,720
Miscellaneous administrative expense	7,500
Miscellaneous selling expense	14,000
Office rent expense	50,000
Office salaries expense	170,000
Office supplies expense	10,000
Sales	5,254,000
Sales commissions	185,000
Sales salaries expense	385,000
Store supplies expense	21,000

Retained earnings and balance sheet data:
Accounts payable	$194,300
Accounts receivable	545,000
Accumulated depreciationoffice buildings and equipment	1,580,000
Accumulated depreciationstore buildings and equipment	4,126,000
Allowance for doubtful accounts	8,450
Available-for-sale investments (at cost)	260,130
Bonds payable, 5%, due 20Y2	500,000
Cash	246,000
Common stock, $20 par
(400,000 shares authorized; 100,000 shares issued, 94,600 outstanding)	2,000,000
Dividends:
Cash dividends for common stock	155,120
Cash dividends for preferred stock	100,000
Goodwill	500,000
Income tax payable	44,000
Interest receivable	1,125
Investment in Pinkberry Co. stock (equity method)	1,009,300
Investments-Dream Inc. bonds (long term)	90,000
Merchandise inventory (December 31, Year 1),
at lower of cost (FIFO) or market	778,000
Office buildings and equipment	4,320,000
Paid-in capital from sale of treasury stock	13,000
Excess of issue price over par:
-Common stock	886,800
-Preferred stock	150,000
Preferred 5% stock, $80 par
(30,000 shares authorized; 20,000 shares issued)	1,600,000
Premium on bonds payable	19,000
Prepaid expenses	27,400
Retained earnings, January 1, Year 1	9,319,725
Store buildings and equipment	12,560,000
Treasury stock
(5,400 shares of common stock at cost of $33 per share)	178,200
Unrealized gain (loss) on available-for-sale investments	(6,500)
Valuation allowance for available-for-sale investments	(6,500)

RO ers Investments-Solstice Corp. Stude Da 31 interest Expense Promium on Bords Pablo . Dec 31 Interest Recevable est Reverse Dec 31 Investment insene.com resulted in for an ealable for Sale investments Valuation Allowance for at for Income Statement Equx Products Inc Income Statement For the Year Ended December 31, Year 1 Equinox Products Inc Retained Earnings Statement For the Year Ended December 31, Year 1 1 Sales Cost of merchandise sold $5,254,000.00 3,700,000.00 $155400000 $9,319,725.00 $329,000.00 o $385,000.00 185,000.00 1 Retained earnings, January 1, Year 1 2 Net income 5 Dividends + Common stock 5 Preferred stock 6 Increase in retained earnings 7 Retained earnings, December 31, Year 1 Gross profit - Operating expenses 3 Selling expenses Sales salaries expense 7 Sales commissions Advertising expense Depreciation expense-store buildings and equipment 10 Delivery expense 11 Store supplies expense Miscellaneous Selling expense $155,120.00 100,000.00 255,120.00 150,000.00 100,000.00 30,000.00 73,880.00 $9,393,605.00 21,000.00 1400000 $ $885,000.00 5170.00000 50,000.00 End of document 1 30,000.00 10,000.00 15 Antepec 24 Office sales expense 35 Offerent expense 26 Depreciation expense-office buildings and equipment Office supplies expense 11 Miscellaneous administrative expense 19 Total Operating experses 22 Income from operations Other revenue and expenses 1 Instepense 33 estrevenue 7,500.00 267,500.00 115250000 5401,500.00 $(21,000.00 2,720.00 4,500.00 498000 24 Dividend revenue Gain on sale of investments Income of Pinkberry Ca. investment Income before income tax 20 Income tax expense 76,800.00 68,000.00 546950000 14050000 5329.000.00 29 Netcome 30 1. Earnings per common share 52.23