Chapter MB, Problem 2M

I need to create a balance sheet, income statement, and Retained Earnings Statement. Can you point me in the righ direction of which account would to each sheet or how to put each one together?   After all of the transactions for the year ended December 31, Year 1, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data that follows were taken from the records of Equinox Products Inc. A. Prepare a multiple-step income statement for the year ended December 31, Year 1, concluding with earnings per share. In computing earnings per share, assume that the average number of common shares outstanding was 100,000 and preferred dividends were $100,000. Enter all amounts as positive numbers EXCEPT in the Other income and expenses. In that section only, enter amounts that represent other expenses as negative numbers using a minus sign. (Round earnings per share to the nearest cent.) B. Prepare a retained earnings statement for the year ended…

In this case you will complete the full accounting cycle for one month for a new company. To facilitate the end-of-month accounting and reporting process you will use a worksheet. The worksheet is a tool used to adjust account balances and prepare financial statements, however, the worksheet does not replace the financial statements.  Preparation of a worksheet is covered in Appendix 3C on pages 3-46 through 3-49. The following is information concerning the company.  Instructions are at the end of the case. At the start of the new business the company set up the following chart of accounts:    101 Cash  405 Commissions Earned  106 Accounts Receivable  410 Consulting Revenue  124 Office Supplies  612 Depreciation Expense—Computer Equip.  128 Prepaid Insurance  622 Salaries Expense  167 Computer Equipment  637 Insurance Expense  168 Accumulated Depreciation—Computer Equip.  640 Rent Expense  209 Salaries Payable…

Please answer ASAPUsing the information provided in the picture, complete the calculation of accounting ratios andpercentages and comment briefly on the performance of the company for the twoyears.