Question: Please prepare income statement and balance sheet based on the following information. Use the following information for Clarington Inc. for Problems 24 (assume the tax

Please prepare income statement and balance sheet based on the following information.

Use the following information for Clarington Inc. for Problems 24 (assume the tax rate is 34%): 2017 2018 Sales $11.573 $12,936 Depreciation 1,661 1.736 Cost of goods sold 3.979 4.707 Other expenses 946 824 Interest 776 926 Cash 6.067 6.466 Accounts receivable 8.034 9.427 Short-term notes payable 1,171 1,147 Long-term debt 20,320 24.696 Net fixed assets 50.898 54.273 Accounts payable 4.384 4.644 Inventory 14.283 15.298 Dividends 1.411 1.618 24. Financial Statements (LO1) Draw up a statement of comprehensive income and a statement of financial position for this company for 2017 and 2016

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