Question
Tibra Inc.'s trial balance TBAcontained the following accounts at December 31, 2021, the end of company's fiscal year. Accounts Balances ($) Accumulated Depreciation-Building. 124000 Accumulated
Tibra Inc.'s trial balance TBAcontained the following accounts at December 31, 2021, the end of company's fiscal year. Accounts Balances ($) Accumulated Depreciation-Building. 124000 Accumulated Depreciation-Equipment.. 35000 Additional Paid in Capital-Common Stock.. 231000 Auditors Fee . . . . . . .. .. .. .. 210000 Buildings. . . . . . .. .. .. .. ... 408000 Cash . . . . . . .. .. .. .. .. . 190020 Common Stock ($2 each). . . . . .. 118000 Cost of Goods Sold . . . . .. . . 1080000 Equipment . . . . . . .. .. .. .. 215000 Interest Expense . . . . . . .. .. . 20800 Loss on Sale of Property . . . . . . 7650 Merchandise Inventory . . . . . . 228000 Mortgage Loan . . . . . . . . 113000 Rent Revenue . . . . . . . . . 53000 Retained Earnings . . . . . . . 52700 Salaries and Wages Expense . . . . . 104000 Sales . . . . . . .. .. . . . . 1753000 Sales Returns and Allowances . . . 9830 Supplies . . . . . . .. . . . . 6400 Additional Data: 1. Physical check on December 31, 2021, reveals that inventory actually on hand is $214000. 2. Buildings are being depreciated @10 % under straight line method,Equipment is being depreciated @20% under declining balance method. 3. Supplies on hand totaled $2500 on December 31, 2021, 4. $0.4 dividend per share was declared. 5. The company is under 40% tax bracket.
Prepare the followings: (a) Multistep income statement; (b) Stockholder_s Equity Statement (c) Classified Balance Sheet as at December 31, 2021
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