Question

The trial balance of Tampa Outdoor Design, Inc., follows:


Ramona Robinson, your best friend, is considering making an investment in Tampa Outdoor Design, Inc. Ramona seeks your advice in interpreting the company’s information. Specifically, she asks how to use this trial balance to compute the company’s total assets, total liabilities, and net income or net loss for the year.

Requirement
Write a short note to answer Ramona’s questions. In your note, state the amounts of Tampa Outdoor Design’s total assets, total liabilities, and net income or net loss for the year. Also show how you computed eachamount.


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  • CreatedJuly 25, 2014
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