Big Ed's Motorcycle Shop. Using the adjusting and closing entries that you prepared in Week 04, prepare the statements listed below.

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Using the adjusting and closing entries that you prepared in Week 04, prepare the statements listed below. Refer to the trial balance provided to you in Week 04 for last year's balances. You will need these to complete the statement of cash flows.

 

-- Income Statement (multiple-step) 

--  Balance Sheet (classified) 

--  Statement of Cash Flows (indirect) 

 

Check figures:

 

Net Income should equal $94,264.  

The Assets should equal $735,240.  

The Cash Provided by Operating Activities is $149,600.

    • 11 years ago
    Big Ed's Motorcycle Shop (Financial Statements) -- A++ Correct w/ Solutions ! USE it as a GUIDE
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