Prepare an income statement (from the adjusted trial balance in part 3) for the three months ended March 31, 2012.
Use a single-step format. List all expenses without differentiating between selling expenses and general and administrative expenses. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount. Input all amounts as positive values. Omit the “$” sign in your response.)
BUSINESS SOLUTIONS
Income Statement
For Three Months Ended March 31, 2012
Revenues
$
Total revenues
Expenses
$
Total expenses
$
5.
Prepare a statement of retained earnings (from the adjusted trial balance in part 3) for the three months ended March 31, 2012. (Do not round intermediate calculations. Round your final answers to the nearest dollar amount. Input all amounts as positive values. Omit the “$” sign in your response.)
BUSINESS SOLUTIONS
Statement of Retained Earnings
For Three Months Ended March 31, 2012
$
$
6.
Prepare a classified balance sheet (from the adjusted trial balance) as of March 31, 2012. (Be sure to list the assets and liabilities in order of their liquidity. Amounts to be deducted should be indicated with minus sign. Do not round intermediate calculations. Round your final answers to the nearest dollar amount. Omit the “$” sign in your response.)
BUSINESS SOLUTIONS
Balance Sheet
December 31, 2011
Assets
Current Assets
$
Total Current Assets
Plant Assets
$
Total Plant Assets
Total Assets $
Liabilities
Current Liabilities
$
Equity
Total equity
Total Liabilities and Equity $