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Use the following data from Burt Co., taken from the ledger after adjustment on December 31 the end of the fiscal year. Accounts Payable $97,200

Use the following data from Burt Co., taken from the ledger after adjustment on December 31 the end of the fiscal year.

Accounts Payable

$97,200

Accounts Receivable

64,300

Accumulated DepreciationOffice Equipment

72,750

Accumulated DepreciationStore Equipment

162,100

Administrative Expenses

56,500

Cash

53,000

Cost of Merchandise Sold

121,700

Interest Expense

12,000

Maeve Burt, Capital

81,750

Maeve Burt, Drawing

52,000

Merchandise Inventory

93,250

Note Payable (due in two years)

154,000

Office Equipment

149,750

Prepaid Insurance

6,500

Rent Revenue

17,500

Salaries Payable

28,700

Sales

365,500

Selling Expenses

41,500

Store Equipment

325,000

Supplies

4,000

a. Prepare a single-step income statement from the above data.

Burt Co
Income Statement
For the Year Ended December 31
Revenues:
$
Total revenues $
Expenses:
$
Total expenses
$

b. Prepare a statement of owner's equity from the above data.

Burt Co
Statement of Owner's Equity
For the Year Ended December 31
$
$
$

c Prepare a balance sheet in report form from the above data.

Burt Co
Balance Sheet
December 31
Assets
Current assets:
$
Total current assets $
Property, plant, and equipment:
$
$
$
Total property, plant, and equipment
Total assets $
Liabilities
Current liabilities:
$
Total current liabilities $
Long-term liabilities:
Total liabilities $
Owner's Equity
Total liabilities and owner's equity $

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