Table 1 - Preclosing account balances of ABC Corporation December 31, X1 Debit/ (Credit) Classifi caiton 20 Accounts Payable (100) Accounts Receivable 80 Accrued Liabilities (110) Accumulated Deprecation (170) Allowance for Uncollectibles (10) Bonds Payable, Long-term (320) Cash 50 Common Stock, at Par (40) Cost of Sales 670 Deferred Income Taxes, Current Assets 20 Deferred Income Taxes, noncurrent liability (80) Dividends paid in cash 40 Extraordinary loss 10 Goodwill 280 Income tax expense 40 Interest expense Inventory 120 Investments, marketable securities, at cost* 40 Land 20 Opening balance, Accumulated Other Comprehensive Income* (20) Opening balance, Retained Earnings (310) Paid-In-Capital in excess of par (60) Prepaid expenses 10 Property and Equipment 400 Research and Development 30 Sales (1,050) Securities fair value adjustment* 30 Selling and Administrative expenses 220 Treasury stock, at cost 200 Unrealized (gain), marketable securities (10) *-relate to ABC's Portfolios of noncurrent available-for sale marketable securities. No Securities were sold in 20X1. Ignore tax effects Solution Form, Req 4 ABC Corporation Income Statement For the Year ended December 31,20X1 ABC Corporation Statement of Retained Earnings For the Year ended December 31, 20X1 ABC Corporation Statement of Accumulated Other Comprehensive Income For the Year ended December 31, 20X1 AOCI - Beginning 20 Unrealized Gain AOCI - Ending ABC Corporation Balance Sheet As of December 31, 20X1 Assets Liabilities and Shareholders' Equity