Question: Need help starting the balance sheet. $30 eirmings for its share of Pinkberry The 16. The investment is adjusted to fair value, using a valuation
$30 eirmings for its share of Pinkberry The 16. The investment is adjusted to fair value, using a valuation Valuation Allowance for Available-for-Sale Investn a valuation allowance r-Sale Investments hda bevi acc Fair value for Solstice Corp. stock was 2016. The inv Assume ance of zero. 16the data tha Instructions 1. Journalize the selected transactions ear ended December 31, 2016, had the y lincluding the transactions recorded in part follows were taken from the records of Equinox Products Inc 2 Alter all of the transactions for nsactions recorded in part (D and all adjusting i 31, 2016, concluding with earnings per share. In computing earnings per sha the average number of common shares outstanding was 100,000 er share, assu a. Prepare a multiple-step income statement for the year ended Decen omon sherings per sharended December 31, 2016. pref cent) b. Prepare a retained earnings statement for the year ended December c Prepare a balance sheet in report form as of December 31, 2016. 2016 dividends were $100,000. (Round earnings per share to the nearr $ 150,000 3,700,000 30,000 30,000 100,000 4,500 4,980 76,800 140,500 21,000 2,720 7,500 14,000 50,000 170,000 10,000 5,254,000 185,000 385,000 21,000 Income statement data: Advertising expense Cost of merchandise sold Delivery expense Depreciation expense-office buildings and equipment Depreciation expense-store buildings and equipment Dividend revenue Gain on sale of investment Income from Pinkberry Co. investment Income tax expense Interest expense Interest revenue Miscellaneous administrative expense Miscellaneous selling expense Office rent expense Office salaries expense Office supplies expense Sales Sales commissions Sales salaries expense Store supplies expense Retained earnings and balance sheet data Accounts payable Acco Accounts receivable Accumulated depreciation--office buildings and equipment $ 194300 545,000 1,580,000 4,126,000 8,450 lated depreciation-store buildings and equipment iation-offie bu Accumu Allowance for doubtful accounts
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