Chapter 4, Problem 9E

(a)

To determine

Income Statement: It can be known as “Profit and Loss statement” or “Revenue statement” or “Operating statement”. It is the financial statement of the company which provides the information about revenues and expenses of a specific period. It computes the net profit or net loss of the company for a particular period and represents the financial performance of the company.

Retained Earnings Statement: Retained Earnings Statement is the shows the balance of retained earnings left at the end after including the net profit/ net loss and distributing the dividend to the stockholders.

To prepare: Income statement retained earnings statement or owners equity statement

(b)

To determine

Classified Balance Sheet: A classified Balance Sheet represents the financial information under different heads of classification in order to make it easy for the users of financial statements to understand the financial position of the company.

To prepare: classified balance sheet.