Please see the picture below. I need help making a retained earnings statement, a balance statement, a comprehensive income statement and calculate the profit margin and the gross profit rate for the income statement I've included. Note that I have included the Income statement below. Cash                                                                                             $ 112,987 Accounts Receivable                                                                  $ 345,078 Coffee & Library Supplies                                                          $56,234 Rent Expense                                                                              $3,550 Sales                                                                                            $32,097 Accounts Payable                                                                       $10,087 Adverting Expense                                                                     $3,450 Net Income                                                                                $10,000 Gross Profit                                                                                $45,000 Cost of Goods                                                                          $55,309

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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Please see the picture below. I need help making a retained earnings statement, a balance statement, a comprehensive income statement and calculate the profit margin and the gross profit rate for the income statement I've included. Note that I have included the Income statement below.

Cash                                                                                             $ 112,987

Accounts Receivable                                                                  $ 345,078

Coffee & Library Supplies                                                          $56,234

Rent Expense                                                                              $3,550

Sales                                                                                            $32,097

Accounts Payable                                                                       $10,087

Adverting Expense                                                                     $3,450

Net Income                                                                                $10,000

Gross Profit                                                                                $45,000

Cost of Goods                                                                          $55,309

Sales
32097
Less: Cost of goods sold
55309
Gross margin
-23212
Operating expenses
Rent expense
3550
Advertising expense
3450
Total operating expense
7000
Other revenues and expense
Total of other expense
30212
Net loss before taxes
Income tax expense
30212
Net loss
Transcribed Image Text:Sales 32097 Less: Cost of goods sold 55309 Gross margin -23212 Operating expenses Rent expense 3550 Advertising expense 3450 Total operating expense 7000 Other revenues and expense Total of other expense 30212 Net loss before taxes Income tax expense 30212 Net loss
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