This is one question with 4 sub-sections.

D B C D Balance (2019) | $ 1 Account Name 2 3 Income tax Expense 4 Decrease in porperty valulation 5 Property, Plant, Equipment 6 Current Assets 7 Cost of Sales 8 Distribuiton Costs 9 Common Shares Issued 10 Finance Costs 11 Stock Option Compenstation 12 Profit before Taxes 13 Retained Earnings(endof year) 14 Dividends Paid 15 Other Income 16 Gross Profit 17 Share Captial (end of year) 18 Contributed surplus (beginnning of year) 19 Non-Current Liablilities 20 Change in Currency Translation (income) 21 Retained Earnings(beginning of year) 22 Administrative Expenses 23 Total Liabilities 24 Total Assets 600,000 35,000 ? Solve 6,500,000 7,500,000 900,000 895,000 90,000 40,000 1,750,000 5,000,000 150,000 40,000 3,500,000 3,395,000 60,000 5,000,000 40,000 4,000,000 800,000 8,000,000 16,500,000 25 26 B 1 2 Reed Geophysical Inc. Statement of Income For the year ended December 31, 2020 3 4 5 6 Revenue Cost of sales Purchases Gross Profit Other income this should be subtracted (7,500,000) 7 8 9 10 Expenses 11 Administrative expenses 12 Distribution costs 13 Total 14 15 Finance costs 16 17 Total 18 19 Profit before taxes 20 1,750,000 21 Income tax expense 600,000 22 23 Profit for the year 1,150,000 24 25 26 27 28 29 Reed Geophysical Inc. 30 Statement of Comprehensive Income 31 For the year ended December 31, 2020 32 (in $) 33 Profit for the year 34 Other comprehensive income/loss 35 Change in currency Translation 36 Decrease in property valuation 37 Total other comprehensive income/loss for the year 38 Total Comprehensive income 39 40 1,150,000 A B C D E F 2019 The previous year ending balance is equal to the next year beginning balance. Or reverse you have the balance for either the ending or begining-therefore complete as 3,395,000 60,000 60,000 1 Reed Geophysical Inc. 2 Statement of Changes in Equity 3 For the year ended December 31, 2020 4 (in $) 5 2020 16 Share Capital 7 Balance at beginning of year 3,395,000 8 Common shares issued 895,000 9 Balance at end of year Lo Contributed Surplus -1 Balance at beginning of year 2 Stock option compensation 3 Balance at end of year -4 Retained Earnings -5 Balance at beginning of year 6 Profit applicable to common share holders -7 Dividends paid L8 Balance at end of year 5,000,000 9 Total Other Comprehensive Income/Loss for the year 20 Balance at beginning of year 21 Change in currency translation 22 Change in property revaluation 23 Balance at end of 24 Total Equity 25 26 27 28 year A B D D E F G H 1 Reed Geophysical Inc. 2 Statement of Financial Position 3 3 As at December 31, 2020 4. (in $) 5 5 Assets 6 7 Non-current assets 8 Property, plant, and equipment 9 Decrease in property revaluation 10 11 Total non-current assets 12 13 Current assets 14 Inventories 15 Trade Receivables 16 Prepaid expenses Cash and cash equivalents 18 Total current assets 19 Please keep in mind that if you have the Totals for the account categories. You should enter amounts for the unknown account balances to demonstrate that the values will equate to the total given. You know the total assests is $16,500 so therefore enter amounts for the unknown accounts do not leave anything blank as long as the Non current assets and current assets equal the total Assets. You should also apply some basice accounting knowledge in that your current assests such as cash, receiveables should not be as high as you fixed assests such as Property Plant and Equipment or non-current assets. You do not likely have more money in your bank account than what your home or Building is valued at. Therefore the Non-current assets should be a higher value than the 17 20 Total assets Remember the Basic Accounting Equation States ASSETS = LIABILTIES + EQUITY 26 Therefore the amount in Cell C40 should equal the amount in Cell C20 21 22 Equity and liabilities 23 24 Equity 25 Contributed equity Share capital 27 Retained earnings 28 Total equity 29 30 Non-current liabilities 31 32 Current liabilities 33 Trade and other payables 34 Short-term borrowings Current position of long-term borrowings 36 Total current liabilities 37 38 Total liabilities 39 40 Total equity and liabilities 41 42 35