1. Using the data presented below, prepare an, income statement, balance sheet and equity statement. Make any necessary assumptions.

Accumulated depreciation.$12

Beginning inventory..10

Cost of goods manufactured.50

Common stock.16

Current assets..32

Depreciation expense. 5

Dividends.. 3

Ending inventory. 20

Equipment 50

Income tax expense. 6

Liabilities. 33

Operating expenses. 30

Retained earnings 15

Sales90

2. Using the data presented below, prepare an, income statement, balance sheet and equity statement. Make any necessary assumptions.

Assets$40 Liabilities.. 10

Common stock.. 5 Retained earnings.. 15

Dividends.. 1 Revenues. 20

Expenses.. 9