oday we are going to revisit earlier packets in order to tie our financials together. Think back to packet 19 when you found yourself with negative Retained Earnings. What questions were raised when you saw that? What might have been missing from the information to which you had access? It didn't see like you had access to all of the transactions, right? Now you do. Use the following pages to record entries in your accounting equation and income statement. Then use that information to create a full set of financial statements for CIC to close out Year 2. This packet is an excellent review for Exam 3 and the Final Exam. Beginning Balances for Year 2 were as follows: Cash $ 26,000.00 Acct Rec $ 12,000.00 Inventory @$4 per unit $ 6,500.00 Int Rec $ 733.00 Note Rec $ 10,000.00 Truck $ 50,000.00 Accum Depr $ 8,250.00 Acct Payable $ 1,500.00 C. Stock APIC $ 15,000.00 $ 60,000.00 Retained Earnings $ 20,483.00 For each of the below transactions, 1. Record the transactions in the appropriate general ledger accounts under an accounting equation. Record the amounts of revenue and expense in the Retained Earnings column, as well as the income statement