Suppose Robin Sporting Goods Company reported the following data at

Suppose Robin Sporting Goods Company reported the following data at July 31, 2018, with amounts in thousands:

Retained earnings, July 31, 2017 . Accounts receivable... Net revenues Total current liabilities.. All other expenses Ot


Use these data to prepare Robin Sporting Goods Company’s single-step income statement for the year ended July 31, 2018; statement of retained earnings for the year ended July 31, 2018; and classified balance sheet at July 31, 2018. Use the report format for the balance sheet. Draw arrows linking the three statements.

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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