
1)
The income statement: This is a financial statement that shows the net income earned or net loss suffered by a company through reporting all the revenues earned and expenses incurred by the company over a specific period of time. An income statement is also known as an operations statement, an earnings statement, a revenue statement, or a
To Prepare: A projected single-step income statement of Company W for the year ending October 31, 2017.
2) a)
To Recommend: The implication of the proposed changes.
b)
To Describe: Any possible concerns that have related to the proposed changes.

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Chapter 5 Solutions
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