This homework is designed to give you a review of what we have done (L.e., closing entries and financial st 1. This problem is designed to give you a brief review of Worksheet.Complete the worksheet. You are required to complete the income statement and balance sheet columas Retained Famings Income Statement Balance Sheet DR DR CR CR CR 30 000 50 000 10 000 100 000 S Cash Accomts Receivable Inventory Building Accuroulated Dep.-Building Accomts Payable Accrued Salaries Payable Depreciation Expense Salaries Expense Room Sales Revenne Dividends Common Stock Retained Eamings, beginning S 20 000 10 000 10 000 10 000 10000 50 000 10000 60 000 70 000 220 000 220 000 i s s Net Income Retained Eamings, endina Total Does this comparty ve a net income or net loss What is the amount of Net Income 2. Based on the worksheet above, prepare fimancial statements a Single Step Income Statement The dale of p eparation of this statement: Jarwary 31, 202 JYP Corporation Iacome Statement Revenues Total revenue Total expenises Net Income b. Retained Earnings Statement The date of p of this statement: Jamnary 31, 2017 JYP Corporation Retained Earnings Statement Retained earnings, previons Less: Dividends Retained camings, January 31, 2017 c. Balance Sheet The date of preparation of this statement: Jamu 3, 2017 JYP Corporation Balaace Sheet Assets Current asset Total curent asset Noncurrent asset Total noncurrent asset Total assets Liabilities & Stockholders' Equity Current liabilities Total current liabilities Total Liabilities Stockholders' equity Total stockholders' equity Total liabilities and equity What is the amoant of total current asset? What is the amount of total current habilities? What can you infer from the current ratio of JYP Corporation d. Statement of Cash Flows What was the amount of net income on the income statement? Followings are account balances of 2017 and 2016 If there is no change, please indicate no change Changes Increase Decrease 2016 30 000 25 000 2017 5 000 Increase Cash Accounts Receivable Inventory Accounts Payable Accrued Salaries Payable Common stock Building 70 000 30 000 20000 50 000 10 000 10 000 10 000 60 000 100000 50 000 100 000 8 000 sc Based on above information, ler's prepare statement of cash flows You are required to caleulate net cash provided by gperating activities The diate of preparation of this statement: Jamuany 31, 2017 Use the Net Income from Income Statement on 2.a JYP Corporation Statement of Cash Flows Cash flows from operating activities Net lincome Adjustments to reconcile net income to net cash provided by operating activities: Net cash provided by operating activities What is the anount of net cash provided by gpcrating activites