Submit a paper which is 2-3 pages in length (no more than 3-pages), In this paper, in addition to presenting the computed answers, please also discuss how you arrived at each answer the accounting problem asks. The accounting problem presents a companys balance sheet, income statement, and statement of cash flows for a theoretical company, Pollys Pet Products. Each of these statements has blank lines. Determine the values that would be appropriate for each blank line. Provide a narrative of how you arrived at each value. Include in this narrative an explanation of: 1) the financial statement being completed; 2) the account being valued; 3) its relationship to the other financial data.

For example, if the accounts payable (AP) line was missing, describe what a balance sheet is and explain that you can derive the AP value based on knowing all the other values of the current liabilities section. Then explain what an account liability is, as well as why it would belong in the current liabilities section of the balance sheet. Finally, analyze, evaluate, and develop a conclusion about the companys performance based on the completed statements.To complete this assignment, refer to the income statement, balance sheet, and statement of cash flows of Pollys Pet Products.

Please Note:

Superior papers will mention and explain the following elements when responding to the assignment question:

• Provide correct balances for the blank financial account lines.
• Define the financial statement being completed.
• Discuss how the values were determined.
• Define and explain each account line that was completed.
• Analyze, evaluate, and develop conclusions about the companys performance based on the financial information.

Please give explanations as to how you arrived at your answer.

Polly's Pet Products
Income Statement as of December 31, 2018
Revenues	650 000
Operating Costs
Gross Profit	205 000
General and Administrative Expenses	75 000
Operating Income
Other Expense	60 000
Income Before Provision for Income Taxes
Provision for Income Taxes	5 000
Net Income
Retained Earnings, Beginning Balance	103 500
Net Income
Retained Earnings, Ending Balance