Chapter 27, Problem 7SPA

FINANCIAL STATEMENTS The adjusted trial balance columns of Braiden Company’s spreadsheet are shown on the next page.

Additional information needed to prepare the financial statements is as follows:

Required

1. 1. Prepare an income statement and a schedule of cost of goods manufactured for the year ended December 31, 20--.
2. 2. Prepare a statement of retained earnings for the year ended December 31, 20--.
3. 3. Prepare a balance sheet as of December 31, 20--.