Exercise $7-15$A $($Algo$)$ Comprehensive single$-$cycle problem LO $7-1,7-5,$

$[$The following information applles to the questions displayed below.$]$

The following post$-$closing list of accounts was drawn from the accounts of Little Grocery Supplier $($LGS$)$ as of December $31,$ Year $2$:

Transactlons for Year $3$

$1.$ Acquired an additional $\backslash (\backslash$$ $9,000\backslash )$ cash from the issue of common stock.

$2.$ Purchased $\backslash (\backslash$$ $61,200\backslash )$ of Inventory on account.

$3.$ Sold Inventory that cost $\backslash (\backslash$$ $63,200\backslash )$ for $\backslash (\backslash$$ $95,000\backslash ).$ Sales were made on account.

$4.$ The company wrote off $\backslash (\backslash$$ $1,170\backslash )$ of uncollectible accounts.

$5.$ On September $1,$ LGS loaned $\backslash (\backslash$$ $10,500\backslash )$ to Eden Co$.$ The note had an $9$ percent Interest rate and a one$-$year term.

$6.$ Pald $\backslash (\backslash$$ $15,380\backslash )$ cash for operating expenses.

$7.$ The company collected $\backslash (\backslash$$ $84,090\backslash )$ cash from accounts recelvable.

$8.$ A cash payment of $\backslash (\backslash$$ $52,440\backslash )$ was pald on accounts payable.

$9.$ The company pald a $\backslash (\backslash$$ $4,600\backslash )$ cash dividend to the stockholders.

$10.$ Uncollectible accounts are estimated to be $1$ percent of sales on account.

$11.$ Recorded the accrued Interest at December $31,$ Year $3($see Item $5).$ Prepare an income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for ear $3.$

Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

Req B Inc

Req B Stmt SE

Req B Bal

Prepare an income statement for Year $3.($Enter all final answers in whole dollars.$)$

LITTLE GROCERY SUPPLIER $($LGS$)$

Income Statement

For the Year Ended December $31,$ Year $3$ o$.$ Prepare an Income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flows for Year $3.$

Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

Req B Inc

Req B Stmt SE

Req B Bal

Req B Stmt

Stmt

Sheet

Cash Flows

Prepare a balance sheet for Year $3.($Be sure to list the assets in the order of their liquidity. Enter all final answers in whole dollars.$)$

$\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|\}$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Balance Sheet$\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$As of December $31,$ Year $3\}\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Assets$\}\backslash \backslash$

$\backslash$hline Cash $()$ & & $\backslash$$ $15,210\backslash \backslash$

$\backslash$hline Accounts receivable & $\backslash$$ $\backslash (27\mathrm{.}635\backslash$sim $\backslash )$ & $\backslash \backslash$

$\backslash$hline Less: Allowance for doubtful accounts & $1,675$ & $25,960\backslash \backslash$

$\backslash$hline Merchandise inventory & & $21,270\backslash \backslash$

$\backslash$hline Interest receivable $(\backslash \%)$ & & $315\backslash \backslash$

$\backslash$hline Notes receivable & & $10,500\backslash \backslash$

$\backslash$hline & & $\backslash (0\backslash \%\backslash )\backslash \backslash$

$\backslash$hline Total assets & & $\backslash$$ $73,255\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Liabilities$\}\backslash \backslash$

$\backslash$hline Accounts payable & & $\backslash$$ $17,565\backslash \backslash$

$\backslash$hline & & $\backslash (0\backslash \%\backslash )\backslash \backslash$

$\backslash$hline Total liabilities & & $17,565\backslash \backslash$

$\backslash$hline $\backslash$multicolumn$\{3\}\{|$l$|\}\{$Stockholders $\backslash (\{\}^\{\backslash$text $\{$a $\}\}\backslash )$ equity$\}\backslash \backslash$

$\backslash$hline Common stock & $\backslash$$ $\backslash (27\mathrm{.}400\backslash \%\backslash )$ & $\backslash \backslash$

$\backslash$hline Retained earnings & $12,135*$ & $\backslash \backslash$

$\backslash$hline & $\backslash (0\backslash$bigcirc $\backslash )$ & $\backslash \backslash$

$\backslash$hline

$\backslash$end$\{$tabular$\}$ Prepare an Income statement, a statement of changes in stockholders' equity, a balance sheet, and a statement of cash flow; ear $3.$

Answer is complete but not entirely correct.

Complete this question by entering your answers in the tabs below.

Req B Inc

Req B Stmt SE

Req B Bal

Req B Stmt Stmt Sheet Cash Flows

Prepare a statement of cash flows for Year $3.($Amounts to be deducted and cash outflows should be indicated with a minus sign. Enter your final answers in whole dollars.$)$