Question: i need help on how to create an income statement, statement of owners equity and balence sheet, please! The following selected accounts and their current




The following selected accounts and their current balances appear in the ledger of Druid Hills Co. for the fiscal year ended May 31, 2048: Cash $243, 100 Accounts Receivable 964,900 Merchandise Inventory 1,788,600 Office Supplies 19,700 Prepaid Insurance 6,400 Office Equipment 828,400 545,900 Accumulated Depreciation- Office Equipment Store Equipment 3,593,800 Accumulated Depreciation- Store Equipment 1,829,700 Accounts Payable 360,900 Customer Refunds Payable 48,500 Instructions Customer Refunds Payable 48,500 Salaries Payable 41,000 298,000 Note Payable* Kristina Marble, Capital Kristina Marble, Drawing 3,535,000 102,600 Sales 11,287,400 Cost of Merchandise Sold 7,850,900 Sales Salaries Expense 919,600 Advertising Expense 549, 100 Depreciation Expense-Store Equipment 148,000 Miscellaneous Selling Expense 35,500 Office Salaries Expense 644,000 103,700 Rent Expense Depreciation Expense-Office Equipment Insurance Expense 42,000 39,900 Office Supplies Expense 33,900 Miscellaneous Administrative Expense 20,700 Interest Expense 11,600 Income Statement (Label) 1 2 3 4 (Label) Selling expenses 5 6 7 8 9 10 11 Administrative expenses: 12 13 14 15 Statement of Owner's Equity Druid Hills Co. Statement of Owner's Equity (Label) 1 2 3 5 Balance Sheet 3. Prepare a balance sheet, assuming that the current portion of the note payable is $54,600. Be sure to complete the statement heading. Refer to the account names in the instructions and the lists of Labels and Amount Descriptions for the exact wording of text entries. Order the Property, Plant & Equipment accounts in the order shown on the Instructions page. You will not need to enter colons() or the word "Less" on the balance sheet, they will automatically insert where necessary Enter all amounts as positive numbers. Druid Hills Co Balance Sheet (Label) Assets 2 (Label 3 4
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