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Create the financial statements

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Question: On 1/1/13 Karitas Inc., a calendar year company, is created with an equity investment of $720. On the same day the company purchases 1 share of stock in another company for $360. THe 1 share of stock is classified as AVAILABLE FOR SALE. On 3/31/13 the share of stock is worth $306 per share. On 6/30/13 the share of stock is worth $450 per share. On 9/30/13 the share of stock is worth $342 per share. On 12/31/13 the share of stock is worth $414 per share. Praxis issues financial statement quarterly.

1) Create the financial statements: Income Statement, Statement of Retained Earnings and Balance Sheet.

Reference no: EM131880720

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