Question: Can someone help me with this year 2 balance sheet? The following list of accounts was drawn from the accounts of Little Grocery Supplier (LGS)

Can someone help me with this year 2 balance sheet?

Can someone help me with this year 2 balance sheet? The followinglist of accounts was drawn from the accounts of Little Grocery Supplier

The following list of accounts was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 1: Transactions for Year 2 1. Acquired an additional $9,200 cash from the issue of common stock. 2. Purchased $61,200 of inventory on account. 3 . Sold inventory that cost $61,900 for $95,800. Sales were made on account. 4. The company wrote off $1,080 of uncollectible accounts. 5. On September 1, LGS loaned $8,000 to Eden Co. The note had an 7 percent interest rate and a one-year term. 6. Paid $16,180 cash for operating expenses. 7. The company collected $88,320 cash from accounts receivable. 8. A cash payment of $51,040 was paid on accounts payable. 9. The company paid a $5,400 cash dividend to the stockholders. 10. Uncollectible accounts are estimated to be 2 percent of sales on account. 11. Recorded the accrued interest at December 31, Year 2 (see item 5). Required a. Organize the transaction data in accounts under an accounting equation. b. Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year 2. Complete this question by entering your answers in the tabs below. Prepare a balance sheet for Year 2. (Be sure to list the assets in the order of their liquidit) dollars.)

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