Record the necessary journal entries for 2016

Prepare Income Statement and Retained Earnings Statement for the year 2016

Prepare Balance Sheet on December 31,2016 Show full work of all the financial items reported in Income Statement and Balance Sheet.

Please round your calculations closest to $. Ignore tax.

GeneralProducts Inc. is incorporated in Nevada, USA on Jan 1st 2013 to take over a local retail chain company is to supply goods of everyday use to customers at the most competitive prices. GeneralPro chain of stores throughout USA. The retail operations of the company are so designed that customers stores and online. 13 to take over a local retail chain. The objective of the st competitive prices. GeneralProducts has established a ny are so designed that customers can shop seamlessly in