The following account balances were determined for yellow pad company as of December 31, 2021. Prepare an income statement, statement of owners, equity, and a balance sheet for yellow pad company as of December 31, 2021. Home Insert Draw Page Layout0.PasteA2Excel File Edit View Insert Format Tools Data●AutoSave OFFTHEY C363738 Revenues:39 Sales Revenue40 Cost of Goods Sold41 Gross Profit4254X48 Utilities Expense49 Repairs Expense43 Operating Expenses:44 Wages Expense45 Supplies Expense46 Delivery Expense47 Entertainment Expense60616263#50 Maintenance Expense51 Depreciation Expense52 Total Expenses53 Net Income645556 Gross Profit %-6510 Owner's Withdrawals8132 Required: Prepare an Income Statement, a Statement of Owners Equity33 and a Balance Sheet for Yellow Pad Company as of December 31, 20213435666757 Profit Margin Ration585968697071x ✓ fxTimes New Roman ✓12B IUHH ✓ V44ReadyescAInfo!1VAccessibility: InvestigateF1Income StatementO==BYellow Pad CompanyIncome StatementYear Ended December 31, 2021@21. AV5VF2Formulas Data Review View Automate Tell meBWAZA A...$45,000OE & Balance sheet#320F3==E三三五LC+Window Help$4900000F4DD+Beginning CapitalNet IncomeWithdrawalsIncrease in CapitalEnding CapitalAssets:Total AssetsLiabilitiesDebt RatioJUN15Wrap Text vMerge & Center vMergeTotal LiabilitiesOwners EquityOwners CapitalTotal Liabilities & Owners Equity%5F5eT^YellowPadCoFinStat6Yellow Pad CompanyBalance SheetYear Ended December 31, 2021F6General$%900Yellow Pad CompanyStatement of Owners EquityYear Ended December 31, 2021Y#DIV/0!A&7JaF7.00 0$0*8vUDIIFBConditional FFormatting asF6G(-9wF PasteA2P-xv fxRevenue & Expense:Sales RevenueCost of Goods SoldA1 Financial Statement Demo23 The following account balances were determined for Yellow Pad Companyas of December 31, 2021456789 Wages Expense10 Supplies Expense11 Delivery Expense12 Entertainment Expense13 Utilities Expense14 Repairs Expense15 Maintenance Expense16 Depreciation Expense17 Assets:BIUV18 Cash19 Accounts Receivable20 Prepaid Rent21 Land22 Building23 Machinery24 LiabilitiesReady1. AvYellow Pad CompanyIncome StatementYear Ended December 31, 2021Income Statement25 Accounts Payable26 Income Tax Payable27 Note Payable28 Equity29 Owner's Capital30 Owner's Withdrawals3132 Required: Prepare an Income Statement, a Statement of Owners Equityand a Balance Sheet for Yellow Pad Company as of December 31, 2021333435363738 Revenues:39 Sales Revenue40 Cost of Goods Sold41 Gross Profit4243 Onerating Exnenses:AInfoAccessibility: InvestigateB$950,000$380,000$82,000$14,000$30,000$42,000$65,000$11,500$4,000$52,000$180,000$95,000$24,000$20,000$280,000$145,000$240,000$112,000$167,500$0$45,000OE & Balance sheet三三三+CIE

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Description: The following account balances were determined for yellow pad company as of December 31, 2021. Prepare an income statement, statement of owners, equity, and a balance sheet for yellow pad company as of December 31, 2021. Home Insert Draw Page Layout0

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he following account balances were determined for yellow pad company as of December 31, 2021. Prepare an income statement, statement of owners, equity, and a balance sheet for yellow pad company as of December 31, 2021.

he following account balances were determined for yellow pad company as of December 31, 2021. Prepare an income statement, statement of owners, equity, and a balance sheet for yellow pad company as of December 31, 2021.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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