Question: The Balance Sheet is required as a copy-able, formatted table. Thank you. S5-10 Preparing a retailer's income statement Canberra Communications reported the following figures in

The Balance Sheet is required as a copy-able, formatted table. Thank you.

The Balance Sheet is required as a copy-able, formatted table. Thank you.

S5-10 Preparing a retailer's income statement Canberra Communications reported the following figures in its financial statements: Cash $3 800 Cost of sales $18000 Operating expenses 3 500 Equipment, net 10 200 Accounts payable 4 100 Accrued liabilities 1 700 Total owners' equity 4 200 Net sales revenue 28 000 Non-current loan payable 700 Accounts receivable 2 700 Inventory 500 Requirement Prepare the business' functional format income statement for the year ended 31 July 2016. Note: Starter 5-11 should be used only after completing Starter 5-10. S5-11 Preparing a retailer's balance sheet Review the data in Starter 5-10. Requirement Prepare Canberra Communications' classified balance sheet at 31 July 2016. Use the report format. +

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