Required #1 Using Be Prepared, Inc.'s adjusted trial balance and prior period's balance sheet, prepare the following Financial Reports: 1. Multi-Step Income Statement for the month of January 2018 (see page 180/181 in your textbook for guidance). 2. Statement of Retained Earnings for the month of January 2018 (see page 479/480 in your textbook for guidance). Note: There are no prior period adjustments and all dividends declared are cash dividends in the amount of $31,060. 3. Comparative Balance Sheet for the months of December 2017 and January 2018 (See page 617/618 in your textbook for guidance). 4. Common-Size Comparative Balance Sheet for the months of December 2017 and January 2018 (See page 619 in your textbook for guidance), 1 Be Prepared Adjusted The Balance January 31, 2018 Credits $ Debits 387,490.005 23,000.00 460.00 60.00 10,000.00 5,190,00 10,000.00 300.00 2,800.00 414,250.00 400,000.00 45,750.00 90,000.00 17,500.00 125,000.00 15,800.00 69,300.00 25,000.00 7,500.00 4,778.00 200,000.00 800,000.00 23,900.00 Account ID Account Description 1001 Cash 1021 Accounts Recevable 1022 Allowance for Doubtful Accounts 1027 Interest Recevable 1031 Notes Recevable 1051 Merchandise Inventory 1101 Store Supplies 1111 Office Supplies 1125 Prepaid Insurance 1401 Land Building 1412 Accum Dep: Building 1431 Office Equipment 1432 Accur Dep: Office Equipment 1451 Store Equipment 1452 Accum Dep: Store Equipment 1501 Patents 2001 Accounts Payable 2005 Income Taxes Payable 2031 Interest Payable 2101 Notes Payable Long Term 2301 Bonds Payable 2303 Discount on Bonds Payable 3001 Preferred Stock 3011 Common Stock 3101 Paidin Capital in Excess of Par: Proffered 311 Pald in Capital in Excess of Par: Common 3121 Paldin Capital Treasury Stock 3300 Retained Earnings 3351 Treasury Stock 4001 Sales Revenue 4002 Sales Discount 400 Sales Returns and Nlowances 4102 Interest Revenue 5001 Cost of Goods Sold S010 Insurance Expense - General 5012 Repairs Expense: Office 5015 Depreciation Expense: Building General 5020 Depreciation Expense: Office Equipment 5025 Supplies Expense-Selling 5027 Utilities Expense: Office 5030 Office Salaries Expense 5035 Office Payroll Tax Expense 6005 Depreciation Expense: Store Equipment 6010 Amortization Expense Patents General 6015 Sales Satanes Expense 6020 Sales Payroll Tax Expense 6022 utilities Expense: Store 6025 Delivery pense. General 603D Repairs Expense Stone 9040 sd Debts Expense Seling T001 Interest pense 400.000.00 105.000.00 15,000.00 166,250.00 72,000.00 53 940.00 72,000.00 139,000.00 800.00 3,000.00 60.00 84,560.00 200.00 2.500.00 750.00 2,500.00 1,200.00 1,500.00 15,000.00 1,200.00 800.00 700.00 10,000.00 800.00 1. 100.00 1.000.00 800.00 160,00 58700 2,068,035.00 2,068.038.00 Be Prepared Adjusted Trial Balance December 31, 2017 $ $ 25,000 7,500 200,000 232,500 Assets Cash Accounts Receivable Merchandise Inventory Office Supplies Prepaid Insurance Land Building Accum Dep: Building Office Equipment Accum Dep: Office Equipment Store Equipment Accum Dep: Store Equipment Patents Total Assets Uabilities 27.500 Accounts Payable 40,000 Income Taxes Payable 50,000 Mortgage Payable 1,500 Total Liabilities 3,000 64,250 400,000 Stockholders' Equity (45,000) Preferred Stock 90,000 Common Stock (15,000) Paldin Capital in Excess of Par: Proffered 75.000 Paid in Capital in Excess of Par: Common (15,000) Retained Earnings 70,000 Total Stockholders' Equity 746,250 $ 250,000 100,000 7.500 71,250 85,000 513,750 746,250 $ Required #1 Using Be Prepared, Inc.'s adjusted trial balance and prior period's balance sheet, prepare the following Financial Reports: 1. Multi-Step Income Statement for the month of January 2018 (see page 180/181 in your textbook for guidance). 2. Statement of Retained Earnings for the month of January 2018 (see page 479/480 in your textbook for guidance). Note: There are no prior period adjustments and all dividends declared are cash dividends in the amount of $31,060. 3. Comparative Balance Sheet for the months of December 2017 and January 2018 (See page 617/618 in your textbook for guidance). 4. Common-Size Comparative Balance Sheet for the months of December 2017 and January 2018 (See page 619 in your textbook for guidance), 1 Be Prepared Adjusted The Balance January 31, 2018 Credits $ Debits 387,490.005 23,000.00 460.00 60.00 10,000.00 5,190,00 10,000.00 300.00 2,800.00 414,250.00 400,000.00 45,750.00 90,000.00 17,500.00 125,000.00 15,800.00 69,300.00 25,000.00 7,500.00 4,778.00 200,000.00 800,000.00 23,900.00 Account ID Account Description 1001 Cash 1021 Accounts Recevable 1022 Allowance for Doubtful Accounts 1027 Interest Recevable 1031 Notes Recevable 1051 Merchandise Inventory 1101 Store Supplies 1111 Office Supplies 1125 Prepaid Insurance 1401 Land Building 1412 Accum Dep: Building 1431 Office Equipment 1432 Accur Dep: Office Equipment 1451 Store Equipment 1452 Accum Dep: Store Equipment 1501 Patents 2001 Accounts Payable 2005 Income Taxes Payable 2031 Interest Payable 2101 Notes Payable Long Term 2301 Bonds Payable 2303 Discount on Bonds Payable 3001 Preferred Stock 3011 Common Stock 3101 Paidin Capital in Excess of Par: Proffered 311 Pald in Capital in Excess of Par: Common 3121 Paldin Capital Treasury Stock 3300 Retained Earnings 3351 Treasury Stock 4001 Sales Revenue 4002 Sales Discount 400 Sales Returns and Nlowances 4102 Interest Revenue 5001 Cost of Goods Sold S010 Insurance Expense - General 5012 Repairs Expense: Office 5015 Depreciation Expense: Building General 5020 Depreciation Expense: Office Equipment 5025 Supplies Expense-Selling 5027 Utilities Expense: Office 5030 Office Salaries Expense 5035 Office Payroll Tax Expense 6005 Depreciation Expense: Store Equipment 6010 Amortization Expense Patents General 6015 Sales Satanes Expense 6020 Sales Payroll Tax Expense 6022 utilities Expense: Store 6025 Delivery pense. General 603D Repairs Expense Stone 9040 sd Debts Expense Seling T001 Interest pense 400.000.00 105.000.00 15,000.00 166,250.00 72,000.00 53 940.00 72,000.00 139,000.00 800.00 3,000.00 60.00 84,560.00 200.00 2.500.00 750.00 2,500.00 1,200.00 1,500.00 15,000.00 1,200.00 800.00 700.00 10,000.00 800.00 1. 100.00 1.000.00 800.00 160,00 58700 2,068,035.00 2,068.038.00 Be Prepared Adjusted Trial Balance December 31, 2017 $ $ 25,000 7,500 200,000 232,500 Assets Cash Accounts Receivable Merchandise Inventory Office Supplies Prepaid Insurance Land Building Accum Dep: Building Office Equipment Accum Dep: Office Equipment Store Equipment Accum Dep: Store Equipment Patents Total Assets Uabilities 27.500 Accounts Payable 40,000 Income Taxes Payable 50,000 Mortgage Payable 1,500 Total Liabilities 3,000 64,250 400,000 Stockholders' Equity (45,000) Preferred Stock 90,000 Common Stock (15,000) Paldin Capital in Excess of Par: Proffered 75.000 Paid in Capital in Excess of Par: Common (15,000) Retained Earnings 70,000 Total Stockholders' Equity 746,250 $ 250,000 100,000 7.500 71,250 85,000 513,750 746,250 $