The adjusted trial balance of Honeybee Hams, Inc., follows. Requirement Prepare Honeybee Hams, Inc.s income statement and

The adjusted trial balance of Honeybee Hams, Inc., follows.

Requirement
Prepare Honeybee Hams, Inc.’s income statement and statement of retained earnings for the year ended December 31, 2012, and its balance sheet on that date. Draw the arrows linking the threestatements.

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Honeybee Hams, Inc. Adjusted Trial Balance December 31, 2012 (Amounts in thousands) Account Cash Accounts receivable Inventories Prepaid expenses Property, plant and equipment Accumulated depreciation Other assets Accounts payable Income tax payable Other liabilities Common stock Retained earnings (beginning, December 31, 2011) Dividend Sales revenue Cost of goods sold Selling, administrative, and general expenses Income tax expense Adjusted Trial Balance Debit Credit S 3,400 1,900 1,700 1,700 6,700 2,500 9,700 7,700 600 2,400 4,500 4,600 1,400 42,200 25,500 10,000 2,500 Total $64,500 $64,500