Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

تمرين 61

Springdale Retail, Inc., is a retailer that has engaged you to assist in the preparation of its financial statements at December 31, 2015.ollowing are the correct adjusted account balances, in alphabetical order, as of that date.ach balance is the "normal" balance for that account.Hint: The "normal" balance is the same as the debit or credit side that increases the account.)

Instructions
a.repare an income statement for the year ended December 31, 2015, which includes amounts for gross profit, income before income taxes, and net income.ist expenses (other than cost of goods sold and income tax expense) in order, from the largest to the smallest dollar balance.ou may ignore earnings per share.
b.repare a statement of retained earnings for the year ending December 31, 2015.
c.repare a statement of financial position (balance sheet) as of December 31, 2015, following these guidelines:
• Include separate asset and liability categories for those assets which are "current."
• Include and label amounts for total assets, total liabilities, total stockholders' equity, and total liabilities and stockholders' equity.
• Present deferred income taxes as a noncurrent liability.
• To the extent information is available that should be disclosed, include that information in your statement.