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Prepare an income statement for the year ending december

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Reference no: EM132521045

The company uses the periodic inventory system. A physical count of inventory on December31 resulted in an inventory amount of $50,000
Instructions

Question 1. Prepare an income statement for the year ending December 31, 2019. Assume that twenty thousand shares of common stock were outstanding the entire year.

a. using the Multi-Step form.
b. using the Single-Step form.

Question 2. Prepare a retained earnings statement for the year ending December 31, 2019.

Question 3. Prepare a Statement of Financial Position as at December 31, 2019.

a. Report Form
b. Account Form

Question 4. Calculate Earnings Per Share for the year ending December 31, 2019.

Attachment:- periodic inventory.zip

Reference no: EM132521045

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