Prepare Income statement, Owners equity statement and balance sheet with notes

Page 2 Exhibit 1 ACCOUNT NAMES AND BALANCES AT MARCH 31, 2014 Depreciation expense - Warehouse and equipment Cash Retained Earnings April 1, 2013 Inventory, March 31, 2014 Selling Expenses Inventory, April 1, 2013 Income tax expense (estimate) Mortgage Loan -6% (due 2020) Sales Land Other Expenses Common stock Prepaid expenses Loans - Equipment (due 2021) Dividends Accounts receivable Interest expense Warehouse and equipment at cost Accumulated depreciation - warehouse and equipment, April 1, 2013 Bank loan-demand note Taxes payable Accounts payable Other current liabilities Goodwill Administrative expenses Purchases Trading Investments (short-term) 60,000 ? 174,000 68,500 161,000 87,000 38.000 400,000 1,193,500 565,000 39,600 250,000 16,800 550,000 170,000 92,600 79,500 1,200,000 180,000 375,000 12,000 67,200 43,600 12,000 87.200 595,000 50,000