Question: Use the National Reserve Rare Coins data from Problem 14-28B. Requirements 1. Prepare National Reserve Rare Coins income statement for the year ended December 31,

Use the National Reserve Rare Coins data from Problem 14-28B.
Requirements
1. Prepare National Reserve Rare Coins’ income statement for the year ended December 31, 2012. Use the single-step format, with all revenues listed together and all expenses listed together.
2. Prepare National Reserve’s balance sheet at December 31, 2012.
3. Prepare National Reserve’s statement of cash flows for the year ended December 31, 2012. Format cash flows from operating activities by the direct method.

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