TBS Communications reported the following figures from its adjusted trial balance for its second year of...

 

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TBS Communications reported the following figures from its adjusted trial balance for its second year of business, which ended on December 31, 2022: Cash Selling Expenses Accounts Payable Common Stock Notes Payable, long-term Merchandise Inventory Retained Earnings, Jan. 1 Accumulated Depreciation - Equipment 4,000 $ 4,745 4,300 4,365 2,500 2,600 2,000 6,500 Cost of Goods Sold Equipment Accrued Liabilities $ 15,700 16,000 1,800 30,200 3,200 120 Administrative Expenses 5,300 Net Sales Revenue Accounts Receivable Interest Expense Requirements: Use Excel to prepare the financial statements. Wherever possible, use formulas. Uncertain about formatting? Review Communicating Accounting Information located in the Bb content area Syllabus and Assignment Schedule 1. Prepare TBS Communication's multi-step income statement for the year ended December 31, 2022. (Note that there are no income taxes for this particular problem. Do not make them up.) 2. Prepare TBS Communication's statement of retained earnings for the year ended December 31, 2022. Assume that there were no dividends declared during the year. 3. Prepare TBS Communication's classified balance sheet at December 31, 2022. TBS Communications reported the following figures from its adjusted trial balance for its second year of business, which ended on December 31, 2022: Cash Selling Expenses Accounts Payable Common Stock Notes Payable, long-term Merchandise Inventory Retained Earnings, Jan. 1 Accumulated Depreciation - Equipment 4,000 $ 4,745 4,300 4,365 2,500 2,600 2,000 6,500 Cost of Goods Sold Equipment Accrued Liabilities $ 15,700 16,000 1,800 30,200 3,200 120 Administrative Expenses 5,300 Net Sales Revenue Accounts Receivable Interest Expense Requirements: Use Excel to prepare the financial statements. Wherever possible, use formulas. Uncertain about formatting? Review Communicating Accounting Information located in the Bb content area Syllabus and Assignment Schedule 1. Prepare TBS Communication's multi-step income statement for the year ended December 31, 2022. (Note that there are no income taxes for this particular problem. Do not make them up.) 2. Prepare TBS Communication's statement of retained earnings for the year ended December 31, 2022. Assume that there were no dividends declared during the year. 3. Prepare TBS Communication's classified balance sheet at December 31, 2022.

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