The adjusted trial balance of Oregon Flowers, Inc., follows: Requirement Prepare Oregon Flowers, Inc.s single step income

The adjusted trial balance of Oregon Flowers, Inc., follows:

Requirement
Prepare Oregon Flowers, Inc.’s single step income statement and statement of retained earnings for the year ended December 31, 2014, and its balance sheet on that date. Draw the arrows linking the threestatements.

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A1 Oregon Flowers, Inc. Adjusted Trial Balance December 31, 2014 2 (Amounts in thousands) Account Debit Credit 2,510 1,900 3,800 1,700 16,700 4-Cash. vable Inventories 7 Prepaid expenses Property, plant, and equipment S 2,500 Accumulated depreciation, property, plant, and equipment 0 Other assets. 1 Accounts payable 9,700 7,500 600 2400 14,500 4,610 12 Income tax payable Other liabilities 14 Common stock S Retained earnings (beginning, December 31, 2013) 1400 16 17 Sales revenue. 18 Cost of goods sold 43,600 25,500 10,000 2,500 Selling, administrative, and general expenses 2a Income tax expense 21