The adjusted trial balance for Speedy Courier as of December 31, 2018, follows. Required 1. Use the

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The adjusted trial balance for Speedy Courier as of December 31, 2018, follows.

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Required

1. Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31, 2018; (b) the statement of retained earnings for the year ended December 31, 2018; and (c) the balance sheet as of December 31, 2018.

2. Compute the profit margin for year 2018 (use total revenues as the denominator).

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...
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