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The Bryant Corporation was started during 2 0 1 9 . Since then some of its accounting information was lost and although some that data

The Bryant Corporation was started during 2019. Since then some of its accounting information was lost and although
some that data is missing, a comparative report of year-end account balances appears below. All numbers are as of
December 31st unless noted otherwise.
Required:
a. Prepare an income statement, statement of retained earnings and a balance sheet for each year and determine the
missing values.
b. During January of 2024, the company had the following transactions:
Jan. 1 Paid rent of $1,500 for the month
Jan. 3 Sold services to customers for $15,600 on account
Jan. 6 Borrowed $3,000 from a bank
Jan. 8 Purchased $800 of equipment on account
Jan. 12 Paid $450 owed to suppliers for equipment previously purchased on account
Jan. 18 Paid $475 for advertising
Jan. 23 Dividend of $300 is paid to the owner
Jan. 28 Received $600 from customers on account
Jan. 29 Purchased $200 of supplies on account
Jan. 30 Paid utility bill of $360 for the month
Jan. 31 Paid employee payroll of $4,200
Jan. 31 Supplies still on hand were reported at $410
Prepare a tabular analysis for January, record the transactions and then prepare a statement of cash flows, income
statement, statement of retained earnings and balance sheet for the company.
c. Assess the company's comparative results for the two-year and one-month period from the perspective of a bank and
then from the perspective of an investor (i.e. did things get better or worse from those perspectives and why). If you
were a bank would you lend the company more money? If you were an investor would you consider investing more
money in the company? Briefly explain your decisions.
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