Question: For problem 6 use the information 1 provide below. You are going to create the proforma income statement, balance sheet and two (2) abbreviated cash

For problem 6 use the information 1 provide below. You are going to create the proforma income statement, balance sheet and two (2) abbreviated cash flow statements. Use the information above to create the 2017 proforma income statement. Create the 2017 balance sheet. Reminder the equity for 2017 is the equity in 2016 (510) plus retained earnings for 2017. Note the balance sheet does not balance. Leave it out of balance. Create (2) solutions to resolve this imbalance problem and explain why you chose each. Create two (2) balance sheets and abbreviated cash flow statements, one for each of your solutions in part 2 with your solution to the imbalance problem in BOLD
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
