Hello Tutor,Can I have assistance with creating the attached commomn statement using income and Balance sheet statements along with the interpreation. I would really appreciate it.using the column of difference on Balance sheet and some transactions on income to determine added or subtracted and transfer to appropriate activity (operating, investing, and financing) with numbers (NO ü). Please insert more column as you need Items20202019DifferenceAddedSubtractedOperatingInvestingFinancing Interpretation : ABDEBalance Sheet1.2 Assets% Changed37.3%83.3%23.0%0.0%30.0%-39.5%-35.3%45.8%0.0%60.0%11.9%|2019Difference19,000202070,000 $55,000 $75,000 $12,000 $65,000 $23,000 | $55,000 $70,000 $51,000 $30,000 $61,000 $12,000 $50,000 $38,000 $85,000 | $48,000 $1,45,000 $25,000 | $5,45,000 | $3 Cash$4 Accounts Receivables$25,0005 Inventory6 Prepaid Insurance7 Short Term Investment$14,0002$$15,0008 Notes Receivables2$-15,000-30,00022,0009 Investments10 Equipment11 Buildings12 Land$$$41,45,000 $40,000 $6,10,000 | $$15,00013 Total Assets65,0001415 Liabilities16 Accounts Payable17 Unearned Revenue18 Salary Payable19 Short term debt20 Income tax payable21 Long term note payable22 Total Liabilities66,000 $10,000 $12,000 $21,000 $37,000 $62,000 $2,08,000 $60,000 | $8,000 | $10,000 $14,000 $28,000 $70,000 $1,90,000 | $10.0%25.0%20.0%50.0%32.1%-11.4%9.5%$6,000$2,0002,0002$$7,0002$9,000-8,00018,0002$$2324 Equity25 Common Stock3,10,000 $92,000 $4,02,000 | $2,60,000 $95,000 | $3,55,000 $19.2%-3.2%13.2%$26 Retained Earnings27 Total Equity50,000-3,00047,000$2829 Total Liabilities and Equity $6,10,000 | $5,45,000 $65,00011.9% ADE1 Particulars%100.0%|2.0%98.0%50.0%48.0%202020191,00,000100.0% $1.9% $98.1%| $46.6% $51.5% $13.7% $0.4%| $4.0% $5.5% $2 Sales$1,26,2003 Sales return and allowances $2,4262,0004 Net Sales5 Cost of goods sold6 Gross profit7 Selling expenses8 Depreciation expenses9 Salary and wages expenses1,23,77498,0002$58,80050,0002$64,97448,00015.0%0.5%4.0%17,31015,0005005002$5,0004,00010 Rent expenses11 Utilities expenses12 Total operating expenses13 Income from operation7.0%0.5%|27.0%21.0%1.0%22.0%6.0%$7,0007,0000.8%| $24.4% $27.1% $0.8% $27.9% $9.5% $$96450030,77427,0002$34,20021,00014 Other income1,0001,00022,00015 Income before income tax35,20016 Income tax expenses12,0006,00017 Net income23,20018.4% S16,00016.0%

The common size statement refers to the statement in which each line is expressed as a percentage of…

Hello Tutor, Can I have assistance with creating the attached commomn statement using income and Balance sheet statements along with the interpreation. I would really appreciate it. using the column of difference on Balance sheet and some transactions on income to determine added or subtracted and transfer to appropriate activity (operating, investing, and financing) with numbers (NO ü). Please insert more column as you need Items 2020 2019 Difference Added Subtracted Operating Investing Financing Interpretation :

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Hello Tutor,

Can I have assistance with creating the attached commomn statement using income and Balance sheet statements along with the interpreation. I would really appreciate it.

using the column of difference on Balance sheet and some transactions on income to determine added or subtracted and transfer to appropriate activity (operating, investing, and financing) with numbers (NO ü). Please insert more column as you need

Items	2020	2019	Difference	Added	Subtracted	Operating	Investing	Financing

Interpretation :

A
B
D
E
Balance Sheet
1.
2 Assets
% Changed
37.3%
83.3%
23.0%
0.0%
30.0%
-39.5%
-35.3%
45.8%
0.0%
60.0%
11.9%
|2019
Difference
19,000
2020
70,000 $
55,000 $
75,000 $
12,000 $
65,000 $
23,000 | $
55,000 $
70,000 $
51,000 $
30,000 $
61,000 $
12,000 $
50,000 $
38,000 $
85,000 | $
48,000 $
1,45,000 $
25,000 | $
5,45,000 | $
3 Cash
$
4 Accounts Receivables
$
25,000
5 Inventory
6 Prepaid Insurance
7 Short Term Investment
$
14,000
2$
$
15,000
8 Notes Receivables
2$
-15,000
-30,000
22,000
9 Investments
10 Equipment
11 Buildings
12 Land
$
$
$4
1,45,000 $
40,000 $
6,10,000 | $
$
15,000
13 Total Assets
65,000
14
15 Liabilities
16 Accounts Payable
17 Unearned Revenue
18 Salary Payable
19 Short term debt
20 Income tax payable
21 Long term note payable
22 Total Liabilities
66,000 $
10,000 $
12,000 $
21,000 $
37,000 $
62,000 $
2,08,000 $
60,000 | $
8,000 | $
10,000 $
14,000 $
28,000 $
70,000 $
1,90,000 | $
10.0%
25.0%
20.0%
50.0%
32.1%
-11.4%
9.5%
$
6,000
$
2,000
2,000
2$
$
7,000
2$
9,000
-8,000
18,000
2$
$
23
24 Equity
25 Common Stock
3,10,000 $
92,000 $
4,02,000 | $
2,60,000 $
95,000 | $
3,55,000 $
19.2%
-3.2%
13.2%
$
26 Retained Earnings
27 Total Equity
50,000
-3,000
47,000
$
28
29 Total Liabilities and Equity $
6,10,000 | $
5,45,000 $
65,000
11.9%

A
D
E
1 Particulars
%
100.0%|
2.0%
98.0%
50.0%
48.0%
2020
2019
1,00,000
100.0% $
1.9% $
98.1%| $
46.6% $
51.5% $
13.7% $
0.4%| $
4.0% $
5.5% $
2 Sales
$
1,26,200
3 Sales return and allowances $
2,426
2,000
4 Net Sales
5 Cost of goods sold
6 Gross profit
7 Selling expenses
8 Depreciation expenses
9 Salary and wages expenses
1,23,774
98,000
2$
58,800
50,000
2$
64,974
48,000
15.0%
0.5%
4.0%
17,310
15,000
500
500
2$
5,000
4,000
10 Rent expenses
11 Utilities expenses
12 Total operating expenses
13 Income from operation
7.0%
0.5%|
27.0%
21.0%
1.0%
22.0%
6.0%
$
7,000
7,000
0.8%| $
24.4% $
27.1% $
0.8% $
27.9% $
9.5% $
$
964
500
30,774
27,000
2$
34,200
21,000
14 Other income
1,000
1,000
22,000
15 Income before income tax
35,200
16 Income tax expenses
12,000
6,000
17 Net income
23,200
18.4% S
16,000
16.0%

Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.

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