Question: Using the adjusted trial balance in Problem 6B, prepare the income statement, statement of changes in equity, and classified balance sheet. Analysis Component: Why must

Using the adjusted trial balance in Problem 6B, prepare the income statement, statement of changes in equity, and classified balance sheet.
Analysis Component: Why must liabilities be separated on the balance sheet between current and long-term: What effect would it have had on Warren's balance sheet if the long-term notes were not separated?
In Problem 6B

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WARRENS PHOTO STUDIO Income Statement For Year Ended December 31 2014 Revenues Photography fees earned 86342 Interest earned 240 Total revenues 86582 ... View full answer

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