• Review these financial statements.
• Complete a compilation review of those financial statements in good form.

Bob's Bacon House Inc. Income Statement For the year ended December 31, 20xx $ 1,776,816 (1,376,900) 399,916 (129,661) 270,255 $ Sales Cost of Goods Sold Gross Profit Selling and Administrative Expenses Income from operations Other Income Rent Income Other Expenses and Losses Loss on Disposal Income before Interest and Taxes Interest Expense Income before Tax Income Tax (242,690 30%) Net Income 25,650 (35,800) 260,105 (17,415) 242,690 (72,807) 169,883 $ $ BOB'S BACON HOUSE, INC. Statement of Retained Earnings For the Period of January 1 - December 31,20XX Beginning Balance Net Income Ending Balance $ $ $ 127,500 169,883 297,383 Bob's Bacon House Inc. Balance Sheet For the year ended December 31, 20xx 576,010 191,816 (3,836) 187,980 16,000 47,200 206,350 1,033,540 ASSETS Current Assets Cash Accounts Receivable Allowance for Doubtful Accounts Notes Receivable Deposits With Vendors Inventories Total Current Assets Long Term Investmenst Long-term Investments in Warren Co. Property,Plant and Equipment Land Building and Equipment Accumulated Depreciation's Patents Copyrights Trademarks Goodwill 95,630 125,000 1,000,000 (381,000) 619,000 219,335 112,000 115,000 225,000 Total Property,Plant and Equipment Total Assets 1,415,335 2,544,505 $ 344,050 26,000 375 24,647 395,072 LIABILITIES AND EQUITY Current Liabilities Accounts Payable Notes Payable Customer Deposits Income Taxes Payable Total Current Liabilities Long Term Liabilities Mortgage Payable Bonds Payable Total Long Term Liabilities Total Liabilities Stockholder's Equity Common Stock Additional Paid-in Capital Retained Earnings 667,200 600,000 1,267,200 1,662,272 544,850 40,000 297,383 882,233 Total Liabilities and Equity $ 2,544,505