Below are three independent sets of financial statements with several amount missing.

Required
1. Complete each set of financial statements by determining the amounts that correspond to the letters.
2. In what order is it necessary to prepare the financial statements andwhy?

Transcribed Image Text:

Income Statement Set A Set B Set C S1,200 S $240 5000 148 Net income Statement of Owner's Equity Beginning balance Less withdrawals Ending balance Balance Sheet Total assets $2,900 $24,400 S340 1,600 200 $3,090 S S P S d S30,000 S 1,600 5,000 Owner's equity 380 Owner's capital Total liabiliries and owner's equity