Question: Can someone help me complete these? I am having a hard time and are crunched for time. I have other ones that I need to





Antioch Company makes eBook readers. The company had the following amounts at the beginning of Year 2 : Cash, $678,000, Raw Materials inventory, $70,000; Work in Process Inventory, $36,000; Finished Goods Inventory, $47,000, Common Stock, $588,000; and Retained Earnings, $243,000. Antioch experienced the following accounting events during Year 2 . Other than the adjusting entries for depreciation, assume that all transactions are cash transactions. 1. Paid $29.000 of research and development costs 2. Paid $52000 for raw materials that will be used to make eBook readers: 3. Placed $92000 of the raw materials cost into the process of manufacturing eBook readers. 4. Paid $75,000 for salaries of selling and administrative employees 5. Paid $98,000 for wages of production workers 6. Paid $89,000 to purchase equipment used in selling and administrative offices 7. Recognized depreciation on the office equipment. The equipment was acquired on January 1, Year 2 it has a $19,000 salvage value and a seven-year ife. The amount of depreciation is computed as [(Cost-salvage) - useful life]. Specifically. ($89,000$19,000)= 7=$10,000 8. Paid $121,000 to purchase manufacturing equipment 9. Recognized depreciation on the manufacturing equipment. The equipment was acquired on January 1, Year 2 . It has a $25,000 solvage value and a eight-year life. The amount of depreciation is computed as [(Cost - salvage) - useful life], Specifically, (\$121,000 $25,000)8=$12,000 10. Paid $55,000 for rent and utility costs on the manufacturing facility. 11. Paid $75,000 for inventory holding expenses for completed eBook readers (rental of warehouse space, salaries of warehouse personnel, and other general storage cost 12. Completed and transferred eBook redders that had total cost of $241.000 from work in process inventory to finished goods 13. Sold 860 eBook readers for $436.000 14. It cost Antioch $137,600 to make the eBook readers sold in Event 13 Required: a. Use a horizontal financial statements model to show how each event affects the balance sheet, income statement, and statement of cash flows. More specifically, record the amounts of the events into the model. Also, in the Statement of Cash Flows column, classify the cash fiows as operating activities (OA), investing activites (IA), or financing activities (FA). The first event is recorded as an example c-1. Prepare a schedule of cost of goods manufactured and sold for the year: c.2. Prepare a formal income statement for the year. c.3. Prepare a balance sheet for the year d. Distinguish between the product costs and the upstream costs that Antioch incurred. Prepare a schedule of cost of goods manufactured and sold for the year. Note: Amounts to be deducted should be indicated with a minus sign. Prepare a formal income statement for the year. Note: Indicate amounts to be deducted with a minus sign. Prepare a balance sheet for the year. Distinguish between the product costs and the upstream costs that Antioch incurred
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