QUESTION Prepare the Income Statement, Statement of Retained Earnings, and Balance Sheet. (Additional info is posted below this TB)

Additional Information

Elimination entries

Adjusted Trial Balance December 31, 2015 Debit credit Cash 2,690,644 Accounts Receivable 5,525,887 e68,236 Allowance for Doubtful Accounts 12,595,645 Inventory 145, 255 Prepaid Insurance 365,000 Notes Receivable 15,799,800 Equipment Building 18,560,325 Land 4,255,025 3,244,001 Accumulated Depreciation: Equipment 5655, 225 Accumulated Depreciation: Building Accounts payable 5,663,200 Notes payable 15,500,000 145,250 Salaries Payable Interest Payable 67,500 4,650,225 Income Taxes Payable 280,000 Common Stock Par 0,10 5,320,000 Additional Paid-In Capital 14,544,321 Retained Earnings 6,577,010 Dividends Distributed Sales (Revenue) 56,875,221 22,352 Interest Earned Cost of Goods Sold 32,733,149 3,255,449 Salaries Expense Other Expenses 956,224 Disposition of Equipment 42.115 Depreciation Expense: Equipment 321,588 896,338 Bad Debt Expense 1100,3e5 Insurance Expense 1,555,300 Interest Expense 4,800,525 Income Tax Expense S 112,635,531 S 112,635,531