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Requirements 1. Prepare the income statement, statement of retained earnings, and classified balance sheet in report form. 2. Using the worksheet data that you prepared,
Requirements
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1. Prepare the income statement, statement of retained earnings, and classified balance sheet in report form. | |||||||
2. Using the worksheet data that you prepared, journalize the closing entries and post the adjusting and closing entries to T-accounts. Use dates and show the ending balance of each account. | |||||||
3. Prepare a post-closing trial balance. | |||||||
4. Calculate the current and debt ratios for the company. |
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