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Please refer to the attachment and write similar content/words of the income statement, statement of retained earnings, and balance sheet. The year will be 2020-2018.

Please refer to the attachment and write similar content/words of the income statement, statement of retained earnings, and balance sheet. The year will be 2020-2018.

FINANCIAL ACCOUNTING
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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Please refer to the attachment and write similar content/words of the income statement, statement of retained earnings, and balance sheet. The year will be 2020-2018.

Income Statement: An income statement or a profit and loss statement is a report made by company management showing revenue, expenses, and net income or loss for a given period. This statement is typically prepared first and provides the most accurate data for a company's net income or losses. The time frame looked at was on a calendar year basis from the years of 2017- 2019 of goods sold, and various expenses incurred during processing. Revenue and gross profit are shown along with operating income before and after taxes. Net income is shown along with specific ratios for each share. Statement of Retained Earnings: Statements of retained earnings shows Patagonia Gold's changes in retained earnings over the reporting period. The time frame of this particular period was from the years of 2017-2019. This statement is not shown individually as a separate financial statement, but rather a figure within the Balance Sheet statement.
Transcribed Image Text:Income Statement: An income statement or a profit and loss statement is a report made by company management showing revenue, expenses, and net income or loss for a given period. This statement is typically prepared first and provides the most accurate data for a company's net income or losses. The time frame looked at was on a calendar year basis from the years of 2017- 2019 of goods sold, and various expenses incurred during processing. Revenue and gross profit are shown along with operating income before and after taxes. Net income is shown along with specific ratios for each share. Statement of Retained Earnings: Statements of retained earnings shows Patagonia Gold's changes in retained earnings over the reporting period. The time frame of this particular period was from the years of 2017-2019. This statement is not shown individually as a separate financial statement, but rather a figure within the Balance Sheet statement.
Balance Sheet: The Balance Sheet shows Patagonia Gold's assets, liabilities, and Stockholders equity as of a given point of time between 2017 and 2019. The time frame looked at was from the years 2017 through 2019. Total assets were broken down into categories: current assets, and total non-current assets. Under current assets cash, inventory, prepaid assets, restricted cash, hedging assets current, and other current assets were listed. Under total non-current assets, net PPE, Goodwill and other intangible assets, and investment properties, non current deferred assets were not applicable to Patagonia Gold, non current deferred tangible assets, non current prepaid assets, and other non current assets were listed. Total Liabilities Net Minority Interest was separated into two categories, current liabilities and total non current liabilities. Under current liabilities, current provisions, pension and other post retirement, current debt and capital, and other current liabilities were listed. Under total non current liabilities, long term provisions, long term debt and capitals, trade and other payables non current, and other non current liabilities were listed. Total equity gross minorities interest was separated into minority interest, and stockholders equity. Under stockholders equity, capital stock, common stock, retained earnings, and other equity interest was listed. Also listed on the balance sheet is total capitalization, common stock equity, net tangible assets, working capital, invested capital, tangible book value, total debt, net debt, shares issued, and ordinary shares number.
Transcribed Image Text:Balance Sheet: The Balance Sheet shows Patagonia Gold's assets, liabilities, and Stockholders equity as of a given point of time between 2017 and 2019. The time frame looked at was from the years 2017 through 2019. Total assets were broken down into categories: current assets, and total non-current assets. Under current assets cash, inventory, prepaid assets, restricted cash, hedging assets current, and other current assets were listed. Under total non-current assets, net PPE, Goodwill and other intangible assets, and investment properties, non current deferred assets were not applicable to Patagonia Gold, non current deferred tangible assets, non current prepaid assets, and other non current assets were listed. Total Liabilities Net Minority Interest was separated into two categories, current liabilities and total non current liabilities. Under current liabilities, current provisions, pension and other post retirement, current debt and capital, and other current liabilities were listed. Under total non current liabilities, long term provisions, long term debt and capitals, trade and other payables non current, and other non current liabilities were listed. Total equity gross minorities interest was separated into minority interest, and stockholders equity. Under stockholders equity, capital stock, common stock, retained earnings, and other equity interest was listed. Also listed on the balance sheet is total capitalization, common stock equity, net tangible assets, working capital, invested capital, tangible book value, total debt, net debt, shares issued, and ordinary shares number.
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