The followng IIst of accounts was prepared for Tile, Etc., Incorporated on December 31, Year 2 , aftef all account adjusments had been made: Tile, Etc, had the following transactions in Year 3 : 1. Purchased merchandlse on account for $615,000 2. Sold merchandise that cost $455,000 for $960,000 on account. 3. Sold for $280,000 cash merchandise that had cost $174,000 4. Sold merchandise for $225,000 to credit card customers. The merchandise had cost $110,000 The credit card company charges a 3 percent tee. 5. Collected $690,000 cash from accounts recelvable. 6. Paid $645,000 cash on accounts payable. 7. Paid $152000 cash for selling and administradve expenses. 8. Collected cash for the full amount due from the credit card company (see rtem 4). 9. Loaned $95,000 to J. Parks. The note had an 6 percent interest rate and 8 one-year term to maturity. 10. Wrote off $8.200 of occounts 8 s uncollectible. 11. Made the following odjusting entries: (a) Recorded uncollectible accounts expense estimated at 1 percent of sales on account. (b) Recorded seven months of accrued Interest on the note ot December 31, Year 3 (see rem 9). Requlred: a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement or changes in stockholders' equity, a balance sheet, and a statement of cash flows for Yesr 3. Complete this question by entering your answers in the tabs below. Organize the transaction dats in accounts under an accounting equation. Note: Enter any decreases to account balances with a minus sign. Not all cells require input. The following list of accounts was prepared for Tile, Etc., Incorporated on December 31, Year 2, after all account adjustments had been made: Tile, Etc. had the following transactions in Year 3: 1. Purchased merchandise on account for $615,000. 2. Sold merchondise that cost $455,000 for $960,000 on occount. 3. Sold for $280,000 cash merchandise that had cost $174,000. 4. Sold merchandise for $225,000 to credit card customers. The merchandise had cost $110,000. The credit card company charges a 3 percent fee. 5. Collected $690,000 cash from accounts receivable. 6. Paid $645,000 cash on occounts pryable. 7. Paid $152,000 cash for selling and administrative expenses. 8. Collected cash for the full amount due from the credit card company (see item 4). 9. Loaned $95,000 to J. Parks. The note had an 6 percent interest rate and a one-year term to maturity. 10. Wrote off $8,200 of accounts as uncollectible. 11. Made the following odjusting entries: (a) Recorded uncollectible accounts expense estimated at 1 percent of sales on account. (b) Recorded seven months of accrued interest on the note at December 31 , Year 3 (see item 9) Required: a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 3. Complete this question by entering your answers in the tabs below. Prepare an income statement for Year 3. The following list of accounts was prepared for Tile, Etc., Incorporated on December 31 , Year 2 , after all account adjustments had been made: Tile, Etc. had the following transactions in Year 3: 1. Purchased merchandise on account for $615,000. 2. Sold merchandise that cost $455,000 for $960,000 on account. 3. Sold for $280,000 cash merchandise that had cost $174,000. 4. Sold merchandise for $225,000 to credit card customers. The merchandise had cost $110,000. The credit card company charges a 3 percent fee. 5. Collected $690,000 cash from accounts recelvable. 6. Paid $645,000 cash on accounts payable. 7. Paid $152,000 cash for selling and administrative expenses. 8. Collected cash for the full amount due from the credit card company (see item 4). 9. Loaned $95,000 to J. Parks. The note had an 6 percent interest rate and o one-year term to maturity. 10. Wrote off $8,200 of accounts as uncollectible. 11. Made the following adjusting entries: (a) Recorded uncollectible occounts expense estimated at 1 percent of sales on account. (b) Recorded seven months of accrued interest on the note at December 31, Year 3 (see item 9). Required: a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 3. Complete this question by entering your answers in the tabs below. Prepare a statement of changes in stockholders' equity for Year 3. The following IIst of accounts was prepared for Tile, Etc., Incorporated on December 31, Year 2 , after all account adjustments had been made: Tile, Etc. had the following transactions in Year 3 : 1. Purchased merchandise on account for $615,000. 2. Sold merchandise that cost $455,000 for $960,000 on account. 3. Sold for $280,000 cash merchandise that had cost $174,000. 4. Sold merchandise for $225,000 to credit card customers. The merchandise had cost $110,000. The credit card company charges a 3 percent fee. 5. Collected $690,000 cash from accounts recenable. 6. Pald $645,000 cash on accounts payable. 7. Paid $152,000 cosh for selling and administrative expenses. 8. Collected cash for the full amount due from the credit card company (see item 4). 9. Loaned $95,000 to J. Parks. The note had an 6 percent Interest rate and o one-year term to maturity. 10. Wrote off $8,200 of accounts as uncollectlble. 11. Made the following adjusting entrles: (a) Recorded uncollectible accounts expense estimated at 1 percent of sales on account. (b) Recorded seven months of accrued interest on the note at December 31 , Year 3 (see item 9 ). Required: a. Organize the transaction data in accounts under an accounting equation. b. Prepare an Income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 3. Complete this question by entering your answers in the tabs below. Prepare a balance sheet for Year 3 . Note: Be sure to list the assets in the order of their liquidity. The following list of accounts was prepared for Tile, Etc., Incorporated on December 31 , Year 2 , after all account adjustments had been made: Tile, Etc. had the following transections in Year 3: 1. Purchased merchandise on account for $615,000. 2. Sold merchandise that cost $455,000 for $960,000 on account. 3. Sold for $280,000 cash merchandise that had cost $174,000. 4. Sold merchandise for $225,000 to credit card customers. The merchandise had cost $110,000. The credit card company charges a 3 percent fee. 5. Collected $690,000 cash from accounts receivable. 6. Paid $645,000 cash on accounts payable. 7. Paid $152,000 cosh for selling and administrative expenses. 8. Collected cash for the full amount due from the credit card company (see item 4). 9. Loaned $95,000 to J. Parks. The note had an 6 percent interest rate and a one-year term to maturity. 10. Wrote off $8,200 of accounts as uncollectible. 11. Made the following adjusting entries: (a) Recorded uncollectible accounts expense estimated at 1 percent of sales on account. (b) Recorded seven months of accrued interest on the note at December 31 , Year 3 (see item 9). Required: a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 3. Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for Year 3. Note: Amounts to be deducted and cash outflows should be indicated with a minus sign. The followng IIst of accounts was prepared for Tile, Etc., Incorporated on December 31, Year 2 , aftef all account adjusments had been made: Tile, Etc, had the following transactions in Year 3 : 1. Purchased merchandlse on account for $615,000 2. Sold merchandise that cost $455,000 for $960,000 on account. 3. Sold for $280,000 cash merchandise that had cost $174,000 4. Sold merchandise for $225,000 to credit card customers. The merchandise had cost $110,000 The credit card company charges a 3 percent tee. 5. Collected $690,000 cash from accounts recelvable. 6. Paid $645,000 cash on accounts payable. 7. Paid $152000 cash for selling and administradve expenses. 8. Collected cash for the full amount due from the credit card company (see rtem 4). 9. Loaned $95,000 to J. Parks. The note had an 6 percent interest rate and 8 one-year term to maturity. 10. Wrote off $8.200 of occounts 8 s uncollectible. 11. Made the following odjusting entries: (a) Recorded uncollectible accounts expense estimated at 1 percent of sales on account. (b) Recorded seven months of accrued Interest on the note ot December 31, Year 3 (see rem 9). Requlred: a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement or changes in stockholders' equity, a balance sheet, and a statement of cash flows for Yesr 3. Complete this question by entering your answers in the tabs below. Organize the transaction dats in accounts under an accounting equation. Note: Enter any decreases to account balances with a minus sign. Not all cells require input. The following list of accounts was prepared for Tile, Etc., Incorporated on December 31, Year 2, after all account adjustments had been made: Tile, Etc. had the following transactions in Year 3: 1. Purchased merchandise on account for $615,000. 2. Sold merchondise that cost $455,000 for $960,000 on occount. 3. Sold for $280,000 cash merchandise that had cost $174,000. 4. Sold merchandise for $225,000 to credit card customers. The merchandise had cost $110,000. The credit card company charges a 3 percent fee. 5. Collected $690,000 cash from accounts receivable. 6. Paid $645,000 cash on occounts pryable. 7. Paid $152,000 cash for selling and administrative expenses. 8. Collected cash for the full amount due from the credit card company (see item 4). 9. Loaned $95,000 to J. Parks. The note had an 6 percent interest rate and a one-year term to maturity. 10. Wrote off $8,200 of accounts as uncollectible. 11. Made the following odjusting entries: (a) Recorded uncollectible accounts expense estimated at 1 percent of sales on account. (b) Recorded seven months of accrued interest on the note at December 31 , Year 3 (see item 9) Required: a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 3. Complete this question by entering your answers in the tabs below. Prepare an income statement for Year 3. The following list of accounts was prepared for Tile, Etc., Incorporated on December 31 , Year 2 , after all account adjustments had been made: Tile, Etc. had the following transactions in Year 3: 1. Purchased merchandise on account for $615,000. 2. Sold merchandise that cost $455,000 for $960,000 on account. 3. Sold for $280,000 cash merchandise that had cost $174,000. 4. Sold merchandise for $225,000 to credit card customers. The merchandise had cost $110,000. The credit card company charges a 3 percent fee. 5. Collected $690,000 cash from accounts recelvable. 6. Paid $645,000 cash on accounts payable. 7. Paid $152,000 cash for selling and administrative expenses. 8. Collected cash for the full amount due from the credit card company (see item 4). 9. Loaned $95,000 to J. Parks. The note had an 6 percent interest rate and o one-year term to maturity. 10. Wrote off $8,200 of accounts as uncollectible. 11. Made the following adjusting entries: (a) Recorded uncollectible occounts expense estimated at 1 percent of sales on account. (b) Recorded seven months of accrued interest on the note at December 31, Year 3 (see item 9). Required: a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 3. Complete this question by entering your answers in the tabs below. Prepare a statement of changes in stockholders' equity for Year 3. The following IIst of accounts was prepared for Tile, Etc., Incorporated on December 31, Year 2 , after all account adjustments had been made: Tile, Etc. had the following transactions in Year 3 : 1. Purchased merchandise on account for $615,000. 2. Sold merchandise that cost $455,000 for $960,000 on account. 3. Sold for $280,000 cash merchandise that had cost $174,000. 4. Sold merchandise for $225,000 to credit card customers. The merchandise had cost $110,000. The credit card company charges a 3 percent fee. 5. Collected $690,000 cash from accounts recenable. 6. Pald $645,000 cash on accounts payable. 7. Paid $152,000 cosh for selling and administrative expenses. 8. Collected cash for the full amount due from the credit card company (see item 4). 9. Loaned $95,000 to J. Parks. The note had an 6 percent Interest rate and o one-year term to maturity. 10. Wrote off $8,200 of accounts as uncollectlble. 11. Made the following adjusting entrles: (a) Recorded uncollectible accounts expense estimated at 1 percent of sales on account. (b) Recorded seven months of accrued interest on the note at December 31 , Year 3 (see item 9 ). Required: a. Organize the transaction data in accounts under an accounting equation. b. Prepare an Income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 3. Complete this question by entering your answers in the tabs below. Prepare a balance sheet for Year 3 . Note: Be sure to list the assets in the order of their liquidity. The following list of accounts was prepared for Tile, Etc., Incorporated on December 31 , Year 2 , after all account adjustments had been made: Tile, Etc. had the following transections in Year 3: 1. Purchased merchandise on account for $615,000. 2. Sold merchandise that cost $455,000 for $960,000 on account. 3. Sold for $280,000 cash merchandise that had cost $174,000. 4. Sold merchandise for $225,000 to credit card customers. The merchandise had cost $110,000. The credit card company charges a 3 percent fee. 5. Collected $690,000 cash from accounts receivable. 6. Paid $645,000 cash on accounts payable. 7. Paid $152,000 cosh for selling and administrative expenses. 8. Collected cash for the full amount due from the credit card company (see item 4). 9. Loaned $95,000 to J. Parks. The note had an 6 percent interest rate and a one-year term to maturity. 10. Wrote off $8,200 of accounts as uncollectible. 11. Made the following adjusting entries: (a) Recorded uncollectible accounts expense estimated at 1 percent of sales on account. (b) Recorded seven months of accrued interest on the note at December 31 , Year 3 (see item 9). Required: a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 3. Complete this question by entering your answers in the tabs below. Prepare a statement of cash flows for Year 3. Note: Amounts to be deducted and cash outflows should be indicated with a minus sign