The adjusted trial balance of Reid and Campbell Ltd. at December 31, 2014, appears below. Requirements 1.

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The adjusted trial balance of Reid and Campbell Ltd. at December 31, 2014, appears below.

The adjusted trial balance of Reid and Campbell Ltd. at

Requirements
1. Prepare Reid and Campbell Ltd.'s 2014 income statement, statement of retained earnings, and balance sheet. List expenses in decreasing order on the income statement and show total liabilities on the balance sheet. Draw arrows linking the three financial statements.
2. Compute Reid and Campbell Ltd.'s debt ratio at December 31, 2014, rounding to two decimal places. Evaluate the company's debt ratio as strong or weak.

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Financial Accounting

ISBN: 978-0133472264

5th Canadian edition

Authors: Charles Horngren, William Thomas, Walter Harrison, Greg Berberich, Catherine Seguin

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