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Problem 5.3A (Algo) Preparing financlal statements from the worksheet. LO 5-4 The completed worksheet for Montoya Corporation as of December 31, 20X1, after the company
Problem 5.3A (Algo) Preparing financlal statements from the worksheet. LO 5-4 The completed worksheet for Montoya Corporation as of December 31, 20X1, after the company had completed the first month of operations, appears below. Required: 1. Prepare an income statement. 2. Prepare a statement of owner's equity. The owner made no additional investments during the month. 3. Prepare a balance sheet. Anolyze: If the adjustment to Prepald Ad dvert/sg had been $2,800 instead of $1,400, what net income would have resulted? Complete this question by entering your answers in the tabs below. Prepare an income statement
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