I NEED HELP WITH b.Comprehensive Problem 4 Part 2:

Note: You must complete part 1 before part 2.

After all of the transactions for the year ended December 31, 20Y8, had been posted [including the transactions recorded in part (1) and all adjusting entries], the data below were taken from the records of Equinox Products Inc. Unless otherwise stated, assume a December 31 balance after adjusting entries.

Income statement data:
Advertising expense		$150,000
Cost of goods sold		3,700,000
Delivery expense		30,000
Depreciation expenseoffice buildings and equipment		30,000
Depreciation expensestore buildings and equipment		100,000
Income tax expense		140,500
Interest expense		21,000
Interest revenue		30,000
Miscellaneous administrative expense		7,500
Miscellaneous selling expense		14,000
Office rent expense		50,000
Office salaries expense		170,000
Office supplies expense		10,000
Sales		5,313,000
Sales commissions		185,000
Sales salaries expense		385,000
Store supplies expense		21,000
Retained earnings and balance sheet data:
Accounts payable		$194,300
Accounts receivable		545,000
Accumulated depreciationoffice buildings and equipment		1,580,000
Accumulated depreciationstore buildings and equipment		4,126,000
Allowance for doubtful accounts		8,450
Bonds payable, 5%, due in 10 years		500,000
Cash		282,850
Common stock, $20 par (400,000 shares authorized; 85,000 shares issued, 94,600 outstanding), January 1, 20Y8		1,700,000
Dividends:
Cash dividends for common stock		155,120
Cash dividends for preferred stock		100,000
Goodwill		700,000
Income tax payable		44,000
Interest receivable		1,200
Inventory (December 31, 20Y8), at lower of cost (FIFO) or market		778,000
Office buildings and equipment		4,320,000
Paid-in capital from sale of treasury stock, January 1, 20Y8		0
Paid-in capital in excess of parcommon stock, January 1, 20Y8		736,800
Paid-in capital in excess of parpreferred stock, January 1, 20Y8		70,000
Preferred 5% stock, $80 par (30,000 shares authorized; 16,000 shares issued), January 1, 20Y8		1,280,000
Premium on bonds payable		19,000
Prepaid expenses		27,400
Retained earnings, January 1, 20Y8		8,197,220
Store buildings and equipment		12,560,000
Treasury stock, January 1, 20Y8		0

a. Prepare a multiple-step income statement for the year ended December 31, 20Y8.

Equinox Products Inc. Income Statement For the Year Ended December 31, 20Y8
Sales			$
Cost of goods sold
Gross profit			$
Operating expenses:
Selling expenses:
Sales salaries expense	$
Sales commissions
Advertising expense
Depreciation expensestore buildings and equipment
Delivery expense
Store supplies expense
Miscellaneous selling expense		$
Administrative expenses:
Office salaries expense	$
Office rent expense
Depreciation expenseoffice buildings and equipment
Office supplies expense
Miscellaneous administrative expense
Total operating expenses
Operating income			$
Other revenue and expense:
Interest revenue		$
Interest expense
Income before income tax			$
Income tax
Net income			$

b. Prepare a statement of stockholders equity for the year ended December 31, 20Y8. Decreases in equity and purchase should be entered as negative amounts by using a minus sign. If your answer is zero, enter 0.

Equinox Products Inc. Statement of Stockholders' Equity For the Year Ended December 31, 20Y8
	Preferred Stock	Paid-In Capital in Excess of Par Preferred Stock	Common Stock	Paid-In Capital in Excess of Par Common Stock	Paid-In Capital from Sale of Treasury Stock	Retained Earnings	Treasury Stock	Total
Balances, January 1	$	$	$	$	$	$	$	$
Cash dividends
Cash dividends
Net income
Stock dividends
Issued common stock
Purchase of treasury stock
Balances, December 31	$	$	$	$	$	$	$	$

c. Prepare a balance sheet in report form as of December 31, 20Y8.

Equinox Products Inc. Balance Sheet December 31, 20Y8
Assets
Current assets:
Cash		$
Accounts receivable	$
Allowance for doubtful accounts
Accounts receivable, net
Inventory
Interest receivable
Prepaid expenses
Total current assets			$
Property, plant, and equipment:
Store buildings and equipment	$
Accumulated depreciation
Store buildings and equipment, net value		$
Office buildings and equipment	$
Accumulated depreciation
Office buildings and equipment, net value
Total property, plant, and equipment
Intangible assets:
Goodwill
Total assets			$
Liabilities
Current liabilities:
Accounts payable		$
Income tax payable
Total current liabilities			$
Long-term liabilities:
Bonds payable		$
Premium on bonds payable
Total liabilities			$
Stockholders Equity
Paid-in capital:
Preferred 5% stock	$
Excess of issue price over par
Paid-in capital, preferred stock		$
Common stock	$
Excess of issue price over par
Paid-in capital, common stock
From sale of treasury stock
Total paid-in capital		$
Retained earnings
Treasury stock
Total stockholders equity
Total liabilities and Stockholders Equity			$

Stockholders' Equity Paid-in capital: Preferred 5% stock $ $ 1,600,000 Excess of issue price over par 150,000 Paid-in capital, preferred stock $ 1,750,000 Common stock $$ 2,000,000 Excess of issue price over par 886,800 Paid-in capital, common stock 2,886,800 From sale of treasury stock 13,000 Total paid-in capital $$ 4,649,800 Retained earnings 8,271,100 Treasury stock 178,200 Total stockholders' equity 12,742,700 Total liabilities and Stockholders' Equity $ 13,500,000 b. Prepare a statement of stockholders' equity for the year ended December 31, 20Y8. Decreases in equity and purchase should be entered as negative amounts by using a minus sign. If your answer is zero, enter "O". Equinox Products Inc. Statement of Stockholders' Equity For the Year Ended December 31, 2018 Paid-In Capital in Excess Paid-In Capital in Excess of Par- Preferred Stock Common Stock Paid-In Capital from Sale of Treasury Stock Retained Earnings Treasury Stock Preferred Stock Common Stock Total Balances, January 1 1,280,000 70,000 736,800 0 8,197,220 0 11,984,020 1,700,000 155,120 Cash dividends Cash dividends 100,000 Net income 329,000 329,000 Stock dividends -255,120 -255,120 Issued common stock Purchase of treasury stock Balances, December 31 1,280,000 70,000 1,855,120 36,800 o 8,271,100 0 1,205,790