we are doing a projest and my professor came back with these corrections and i dont understand them.

"Noncontrolling interest is part of the equity section

You need a other income expense section after operating income

Interest income, expense and rental

The net income is a loss of 10,250"

im going to post the origional question with the spread sheet them imcome statement, blance sheet and statement of equity.

please help!

I reposted the first picture is that the one that is not clear?

1. Make a Balance Sheet, Income Statement, and a Statement of Equity with the spread sheet given. **DV yional Question 9 Call Good AP Reed Emange. Begg Common Stock APC Treasury Wagen Deco il Art Code Cardona G Balance Sheet Amount Amount Asset Non Current Asset Tangible Fixed Asset Buildings Automobile Land Equipment Less: Accumulated Depreciation Accumulated Dep - Building Accumulated Dep - Equipment Accumulated Dep - Automobile 425000 25000 284000 128000 251000 72000 20000 Net Tangible Fixed Asset 519000 Intangible Fixed Asset Goodwill Patent Total Intangible Fixed Asset 156500 4700 161200 40000 67000 9.4000 Current Asset Cash Short term Investment Account Receivable Less : Allowance for Doubtfull Debts Inventory Prepaid Insurance Treasury Stock -8000 86000 125000 4250 3800 326050 1006250 Total Asset Non Current Liability Long term Note 251000 Equity and Earning - Note 1 647250 Current Liability Accounts Payable Wages Payable Long term Note - Due in Next Year Proposed Divident Unearned Revenue 50000 17000 25000 14000 2000 108000 Total Equity and Libility 1006250 Income Statement Particular Amount Amount Revenue from Operations Sales Less: Sales Return 261000 4000 257000 Other Income Non controlling Interest Rental Revenue Interest Income 5000 5000 1000 11000 Total Income 268000 Less: Direct Expenses Cost of Good Sold 184000 Gross Profit 84000 Indirect Expenses Wage Expenses Rent Expenses Utilities Expenses Employee Benefit Expenses Advertising Expenses Credit Card Expenses Sales Discount Supplies Expenses Insurance Expenses Depreciation Expenses Auto Expenses Dues Expenses 32000 14000 8000 6500 6000 4100 4000 4000 3000 2800 2600 750 87750 Earning Before Interest and Taxes -3750 Interest Expenses 1500 Earning Before Taxes -5250 Accumulated Comprehensive Income 7000 Earning Before Taxes -12250 Provission for Tax 0 Profit after Tax -12250 Statement of Equity Equity at the beginning of the Year Common Stock Preferred Stock Retained Earning 185000 26000 325000 536000 Addition during the Year Additional Share Capital Additional Paid in Capital Additional Paid in Capital - Treasury Earning during the year 11000 125000 1500 -12250 125250 Deletion during the Year Proposed Divident - 14000 Equity at the close of the Year 647250 As of September 30, 2019 40 000 67.000 6 000 125.000 25.000 425.000 284 000 251 000 72.000 20.000 261,000 5.000 50 000 17 000 278.000 185.000 Cash Short term Investment Accounts Receivable Allowance for doubtful accounts Additional Paid in Capital - Preferred Inventory Automobiles Buildings Land Equipment Accumulated Dep - Buildings Accumulated Dep - Equipment Accumulated Dep. Automobiles Patient Sales Sales Returns Non controlling Interest Cost of Goods Sold Accounts Payable Wages Payable Long-term Note Retained Earnings, Beginning Common Stock Additional Paid in Capital Common Treasury Stock Wage Expense Rent Expense Uslities Expense Depreciation Expense Employee Benefit Expense Advertising Expense Preferred Stock Credit Card Expense Sales Discount Supplies Expense Accumulated comprehensive income Insurance Expense Rental Revenue Interest Expense Dues Expense Uneamed Revenues Prepaid Insurance - Current Auto expense Interest Income Good Will Additional Paid in Capital - Treasury Totals 1500 Important Notes 1. The income tax rate is 25% 2.525.000 of the long-term note is due in the current year 3. The investment account is considered short-ermin nature 4. Al this point no La v e been acerad 5. When I made this linked my spreadsheets you may have some 6. List the expenses in order of magnitude Biggest first) 7. A cash dividend for $14.000 was declared on 9 29- 2019 to be a 10-7-2019 8. The company uses the FIFO inventory method Project 1. Make a Balance Sheet in Good form 2. Make an Income Statement in Good form 3 Matke a statement of Equity As of September 30, 2019 40 000 67.000 6 000 125.000 25.000 425.000 284 000 251 000 72.000 20.000 261,000 5.000 50 000 17 000 278.000 185.000 Cash Short term Investment Accounts Receivable Allowance for doubtful accounts Additional Paid in Capital - Preferred Inventory Automobiles Buildings Land Equipment Accumulated Dep - Buildings Accumulated Dep - Equipment Accumulated Dep. Automobiles Patient Sales Sales Returns Non controlling Interest Cost of Goods Sold Accounts Payable Wages Payable Long-term Note Retained Earnings, Beginning Common Stock Additional Paid in Capital Common Treasury Stock Wage Expense Rent Expense Uslities Expense Depreciation Expense Employee Benefit Expense Advertising Expense Preferred Stock Credit Card Expense Sales Discount Supplies Expense Accumulated comprehensive income Insurance Expense Rental Revenue Interest Expense Dues Expense Uneamed Revenues Prepaid Insurance - Current Auto expense Interest Income Good Will Additional Paid in Capital - Treasury Totals 1500 Important Notes 1. The income tax rate is 25% 2.525.000 of the long-term note is due in the current year 3. The investment account is considered short-ermin nature 4. Al this point no La v e been acerad 5. When I made this linked my spreadsheets you may have some 6. List the expenses in order of magnitude Biggest first) 7. A cash dividend for $14.000 was declared on 9 29- 2019 to be a 10-7-2019 8. The company uses the FIFO inventory method Project 1. Make a Balance Sheet in Good form 2. Make an Income Statement in Good form 3 Matke a statement of Equity 1. Make a Balance Sheet, Income Statement, and a Statement of Equity with the spread sheet given. **DV yional Question 9 Call Good AP Reed Emange. Begg Common Stock APC Treasury Wagen Deco il Art Code Cardona G Balance Sheet Amount Amount Asset Non Current Asset Tangible Fixed Asset Buildings Automobile Land Equipment Less: Accumulated Depreciation Accumulated Dep - Building Accumulated Dep - Equipment Accumulated Dep - Automobile 425000 25000 284000 128000 251000 72000 20000 Net Tangible Fixed Asset 519000 Intangible Fixed Asset Goodwill Patent Total Intangible Fixed Asset 156500 4700 161200 40000 67000 9.4000 Current Asset Cash Short term Investment Account Receivable Less : Allowance for Doubtfull Debts Inventory Prepaid Insurance Treasury Stock -8000 86000 125000 4250 3800 326050 1006250 Total Asset Non Current Liability Long term Note 251000 Equity and Earning - Note 1 647250 Current Liability Accounts Payable Wages Payable Long term Note - Due in Next Year Proposed Divident Unearned Revenue 50000 17000 25000 14000 2000 108000 Total Equity and Libility 1006250 Income Statement Particular Amount Amount Revenue from Operations Sales Less: Sales Return 261000 4000 257000 Other Income Non controlling Interest Rental Revenue Interest Income 5000 5000 1000 11000 Total Income 268000 Less: Direct Expenses Cost of Good Sold 184000 Gross Profit 84000 Indirect Expenses Wage Expenses Rent Expenses Utilities Expenses Employee Benefit Expenses Advertising Expenses Credit Card Expenses Sales Discount Supplies Expenses Insurance Expenses Depreciation Expenses Auto Expenses Dues Expenses 32000 14000 8000 6500 6000 4100 4000 4000 3000 2800 2600 750 87750 Earning Before Interest and Taxes -3750 Interest Expenses 1500 Earning Before Taxes -5250 Accumulated Comprehensive Income 7000 Earning Before Taxes -12250 Provission for Tax 0 Profit after Tax -12250 Statement of Equity Equity at the beginning of the Year Common Stock Preferred Stock Retained Earning 185000 26000 325000 536000 Addition during the Year Additional Share Capital Additional Paid in Capital Additional Paid in Capital - Treasury Earning during the year 11000 125000 1500 -12250 125250 Deletion during the Year Proposed Divident - 14000 Equity at the close of the Year 647250 As of September 30, 2019 40 000 67.000 6 000 125.000 25.000 425.000 284 000 251 000 72.000 20.000 261,000 5.000 50 000 17 000 278.000 185.000 Cash Short term Investment Accounts Receivable Allowance for doubtful accounts Additional Paid in Capital - Preferred Inventory Automobiles Buildings Land Equipment Accumulated Dep - Buildings Accumulated Dep - Equipment Accumulated Dep. Automobiles Patient Sales Sales Returns Non controlling Interest Cost of Goods Sold Accounts Payable Wages Payable Long-term Note Retained Earnings, Beginning Common Stock Additional Paid in Capital Common Treasury Stock Wage Expense Rent Expense Uslities Expense Depreciation Expense Employee Benefit Expense Advertising Expense Preferred Stock Credit Card Expense Sales Discount Supplies Expense Accumulated comprehensive income Insurance Expense Rental Revenue Interest Expense Dues Expense Uneamed Revenues Prepaid Insurance - Current Auto expense Interest Income Good Will Additional Paid in Capital - Treasury Totals 1500 Important Notes 1. The income tax rate is 25% 2.525.000 of the long-term note is due in the current year 3. The investment account is considered short-ermin nature 4. Al this point no La v e been acerad 5. When I made this linked my spreadsheets you may have some 6. List the expenses in order of magnitude Biggest first) 7. A cash dividend for $14.000 was declared on 9 29- 2019 to be a 10-7-2019 8. The company uses the FIFO inventory method Project 1. Make a Balance Sheet in Good form 2. Make an Income Statement in Good form 3 Matke a statement of Equity As of September 30, 2019 40 000 67.000 6 000 125.000 25.000 425.000 284 000 251 000 72.000 20.000 261,000 5.000 50 000 17 000 278.000 185.000 Cash Short term Investment Accounts Receivable Allowance for doubtful accounts Additional Paid in Capital - Preferred Inventory Automobiles Buildings Land Equipment Accumulated Dep - Buildings Accumulated Dep - Equipment Accumulated Dep. Automobiles Patient Sales Sales Returns Non controlling Interest Cost of Goods Sold Accounts Payable Wages Payable Long-term Note Retained Earnings, Beginning Common Stock Additional Paid in Capital Common Treasury Stock Wage Expense Rent Expense Uslities Expense Depreciation Expense Employee Benefit Expense Advertising Expense Preferred Stock Credit Card Expense Sales Discount Supplies Expense Accumulated comprehensive income Insurance Expense Rental Revenue Interest Expense Dues Expense Uneamed Revenues Prepaid Insurance - Current Auto expense Interest Income Good Will Additional Paid in Capital - Treasury Totals 1500 Important Notes 1. The income tax rate is 25% 2.525.000 of the long-term note is due in the current year 3. The investment account is considered short-ermin nature 4. Al this point no La v e been acerad 5. When I made this linked my spreadsheets you may have some 6. List the expenses in order of magnitude Biggest first) 7. A cash dividend for $14.000 was declared on 9 29- 2019 to be a 10-7-2019 8. The company uses the FIFO inventory method Project 1. Make a Balance Sheet in Good form 2. Make an Income Statement in Good form 3 Matke a statement of Equity