Learning Objective 5 - Part A: Income Statement and Balance Sheet

From the data below prepare first an Income Statement for Snow Excursions for the year ended December 31, 2017. Next prepare a Balance Sheet for Snow Excursions Inc. as of December 31, 2017.

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Learning Objective -Part AIncome Statement and Bala? From the data below prepare first an Income Statement for Snow Excursions for the year ended December 31, 2017. Next, prepare a Balance Sheet for Snow Excursions, Inc. as of December 31, 2017 Balances 1213112017 $2,000 32,000 1,500 82,000 18,000 40,000 3,500 5,000 4,000 10,000 26,200 12,000 10,000 2,000 3,000 8,000 60,000 25,000 1,000 15,000 1,000 800 Description Common Stock Snow Equipment 7Salaries Psyable Excursions Fee Revenue Merchandice Inventory 0 Salaries expenze 11 Accounts Poyable 12 Dividends 13 Utilities expence 4 Ski Lift Ticket Sales Revenue 5 Coch 16 Accounts Receivable 17 Paid-in-copital in excess of par value 1 Depreciation Expense Accum Depreciation- Snow Equip 20 Retsined Earnings, Jonuory 1, 2017 21 Shi Lodge Apparel Sales 22 Cost of Goods Sold Supplics Expense 24 Office Equipment 25 Accum Depreciation Office Equip Office Supplica 26 27