P$5-6$ Preparing Both an Income Statement and a Balance Sheet from a Trial Balance LO$5-3$ P$5-6$ Part a

Required:

Complete the financial statements as follows:

a$.$ Classified $($multiple$-$step$)$ income statement for the reporting year ended March $31,2016.$ Include income tax expense, assuming a $40$ percent tax rate. b$.$ Classified balance sheet at the end of the reporting year, March $31,2016.$ Include $(1)$ income taxes for the current year in Income Tar

$[$The following information applies to the questions displayed below.$]$

Jordan Sales Company $($organized as a corporation on April $1,2014)$ has completed the accounting cycle for the second year, ended March $31,2$