Obtain all data necessary from the worksheet prepared for Artisan Wines in Problem 12.6A at the end

Question:

Obtain all data necessary from the worksheet prepared for Artisan Wines in Problem 12.6A at the end of Chapter 12. Then follow the instructions to complete this problem.
INSTRUCTIONS
1. Prepare a classified income statement for the year ended December 31, 2019. The company does not classify its operating expenses as selling expenses and general and administrative expenses.
2. Prepare a statement of owner's equity for the year ended December 31, 2019. No additional investments were made during the year.
3. Prepare a classified as of December 31, 2019.
Analyze:
What is the inventory turnover for Artisan Wines?
Balance Sheet
Balance sheet is a statement of the financial position of a business that list all the assets, liabilities, and owner’s equity and shareholder’s equity at a particular point of time. A balance sheet is also called as a “statement of financial...