The adjusted trial balance of Delicious Hams, Inc., follows. (Click the icon to view the adjusted...

  

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The adjusted trial balance of Delicious Hams, Inc., follows. (Click the icon to view the adjusted trial balance.) Requirement Prepare Delicious Hams, Inc.'s single-step income statement and statement of retained earnings for the year ended December 31, 2018, and its balance sheet on that date. 1. (Amounts in thousands) Account Delicious Hams, Inc. Adjusted Trial Balance December 31, 2018 Cash Accounts receivable Inventories Prepaid expenses Property, plant, and equipment Accumulated depreciation-property, plant, and equipment Other assets Accounts payable Income tax payable Other liabilities $ Debit 4,900 1,900 2,400 1,400 16,300 9,300 $ Credit 2,900 7,600 900 2,200 Common stock Retained earnings (beginning, December 31, 2017) Dividends Sales revenue Cost of goods sold Selling, administrative, and general expenses Income tax expense Total $ 1,300 25,400 10,300 2,000 75,200 $ 14,300 5,300 42,000 75,200 The adjusted trial balance of Delicious Hams, Inc., follows. (Click the icon to view the adjusted trial balance.) Requirement Prepare Delicious Hams, Inc.'s single-step income statement and statement of retained earnings for the year ended December 31, 2018, and its balance sheet on that date. 1. (Amounts in thousands) Account Delicious Hams, Inc. Adjusted Trial Balance December 31, 2018 Cash Accounts receivable Inventories Prepaid expenses Property, plant, and equipment Accumulated depreciation-property, plant, and equipment Other assets Accounts payable Income tax payable Other liabilities $ Debit 4,900 1,900 2,400 1,400 16,300 9,300 $ Credit 2,900 7,600 900 2,200 Common stock Retained earnings (beginning, December 31, 2017) Dividends Sales revenue Cost of goods sold Selling, administrative, and general expenses Income tax expense Total $ 1,300 25,400 10,300 2,000 75,200 $ 14,300 5,300 42,000 75,200

Answer rating: 100% (QA)

Based on the information provided in the adjusted trial balance of Delicious Hams Inc we will prepar... View the full answer