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

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