(Show all work where applicable) 1/2 1. Clearwater Manufacturing Inc. reports the following list of accounts, in alphabetical order: Equipment Dividends declared a (eland SC SCE Accounts payable (a), (b) L Accounts receivable 7 SFIV Bank indebtedness Bank loan payable LV, SFP LV A SFP Cash Common shares SEP AV SFP SCVSCE, SFP Gamings) SSCE Goodwill AV SFP Income tax expense Income tax payable EV IS LV Interest expense SFP Office expense Prepaid insurance EIS ESV s Rent expense AV Salaries payable Service revenue Repair and maintenance expense Es EIS EV SEP LV SFP RV A SFP AV SEP Supplies Vehicles (a) Classify each account as an asset (A), liability (L), share capital (SC), revenue (R), or expense (E) item. (a) Identify on which financial statement(s)-income statement (IS), statement of changes in equity (SCE), and/or statement of financial position (SFP)-each account would be reported. Note that there may be more than one correct statement for some of the above. 7. Tanya's Tours, Inc. has the following financial information as at December 31, 2012: Tours revenue Cash Equipment $283,000 19,000 124,000 Accounts payable 16,500 Bank loan payable 50,000 Income tax expense 10,000 Dividends declared 12,000 Operating expenses 245,000 Supplies 2,500 Common shares, Jan. 1 30,000 Common shares issued during year 15,000 Retained earnings, Jan. 1 18,000 (a) Determine net income for the year: $ 28,000 (b) Prepare a statement of changes in equity and a statement of financial position for the year (on next page)