Required information Exercise 7-15A Comprehensive single-cycle problem LO 7-1,7-5, 7-6 The following information applies to the questions displayed below.) The following post-closing trial balance was drawn from the accounts of Little Grocery Supplier (LGS) as of December 31, Year 2 Cash Accounts receivable Allowance for doubtful accounts Inventory Accounts payable Common stock Retained earnings 56,130 16,820 2,490 25,620 10,540 20,800 14,740 Transactions for Year 3 1. Acquired an additional $11,900 cash from the issue of common stock 2. Purchased $60,600 of inventory on account 3. Sold inventory that cost $62,900 for $94100. Sales were made on account. 4. The company wrote off $1,500 of uncollectible accounts 5. On September 1. LGS loaned $9,500 to Eden Co. The note had an 6 percent interest rate and a one-year term. 6. Pald $16,090 cash for operating expenses 7. The company collected $84.400 cash from accounts receivable. 8. A cash payment of $53.810 was paid on accounts payable. 9. The company paid a $4,400 cash dividend to the stockholders. 10. Uncollectible accounts are estimated to be 1 percent of sales on account. 11. Recorded the accrued interest at December 31, Year 3 (see item 5) Complete this question by entering your answers in the tabs below. Req B Inc Stmt Req B Stmt SE Req B Bal Sheet Req B Stmt Cash Flows Prepare an income statement for Year 3. (Enter all final answers in whole dollars.) LITTLE GROCERY SUPPLIER (LGS) Income Statement For the Year Ended December 31, Year 3 Sales revenue $ 94,100 Cost of goods sold (62,900) Gross margin 31,200 Expenses Operating expenses $ 16,090 Uncollectible accounts expense 941 Total expenses Operating income Interest revenue (17,031) 14.169 RoqB Inc Stone Req B Stmt SE > Complete this question by entering your answers in the tabs below. Req B Inc Stmt Req B Stmt SE Req B Bal Sheet Req B Stmt Cash Flows Prepare a statement of changes in stockholders' equity for Year 3. (Enter all final answers in whol with a minus sign.) LITTLE GROCERY SUPPLIER (LGS) Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 3 Beginning common stock $ $ 0 Ending common stock Beginning retained earnings Ending retained earnings Total stockholders' equity 0 0 $ Complete this question by entering your answers in the tabs below. Req B Inc Reg 8 Stmt SE Req B Bal Stmt Req B Stmt Sheet Cash Flows Prepare a balance sheet for Year 3. (Be sure to list the assets in the order of their liquidity. Enter all final answers in whole dollars.) LITTLE GROCERY SUPPLIER (LGS) Balance Sheet As of December 31. Year 3 Assets $ 0 Total assets Liabilities 0 Total liabilities Stockholders' equity 0 Total stockholders' equity Total liabilities and stockholders' equity $ 0