Thomas Company records sales for the month along with The Expenses incurred to produce the sales. The accounting records of Thomas Company are in dollars, not euros, although the Ohio-based company is owned by a German firm. The home of Rob Elliot, the owner of GGE Enterprises Inc., is not listed among the company's assets. Despite several years of falling sales, Thomas Company continues to forecast sales and make strategic plans to raise revenues and cut expenses. Thomas Company provides earnings information to investors at the end of every quarter. 2. Thomas Company has decided to purchase a company vehicle. The accountant was given all of the purchase details. Which should be used to record the vehicle in the accounting records? O The amount of the loan with the bank O The manufacturer's suggested retail price (MSRP). O The average selling price of similar vehicles in the area. O The price negotiated with the dealer. Financial Statements A business will construct its financial statements in a particular order because they are interrelated. This means that items formulated in an earlier statement feed into the subsequent statements, and char to items on one financial statement can have compounding effects on the overall financial position of a company. Which of the following is one reason the retained earnings statement is prepared after the income statement? Which of the following is one reason the retained earnings statement is prepared before the balance sheet