Problem 3-5B

Preparing financial statements from the adjusted trial balance and calculating profit margin

The adjusted trial balance for Speedy Courier as of December 31, 2015, follows.

Required

Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31, 2015, (b) the statement of owner's equity for the year ended December 31, 2015, and (c) the balance sheet as of December 31, 2015.

Calculate the profit margin for year 2015.

please answer early by 10:30pm est

Problem 3-5B Preparing financial statements from the adjusted trial balance and calculating profit margin The adjusted trial balance for Speedy Courier as of December 31, 2015, follows. Required 1 Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31, 2015, (b) the statement of owner's equity for the year ended December 31, 2015, and (c) the balance sheet as of December 31, 2015. 1 Calculate the profit margin for year 2015