Question

The adjusted trial balance of Lighthouse Realty, Inc. at December 31, 2013, follows:
Requirements
1. Prepare Lighthouse Realty’s 2013 income statement, statement of retained earnings, and year-end balance sheet. List expenses in decreasing order on the income statement.
2. a. Which financial statement reports Lighthouse Realty’s results of operations?
Were operations successful during 2013? Cite specifics from the financial statements to support your evaluation,
b. Which statement reports the company’s financial position?


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  • CreatedJuly 08, 2015
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