Reference no: EM133006786

Question - Samson company has adjusted account balances as of December 31, 2015 are as follow (some noted balances are January 1, 2015):

Name of accounts Amount in Taka sales 1200000

Purchases 810000

Marketable securities 15000

Purchase discounts 20000

Purchase returns and allowances 2000

Extraordinary loss due to earthquake, Net of Applicable taxes of $15000 35000

Selling expenses 114000

Cash 90000

Accounts receivable 60000

Common stock 150000

Accumulated depreciation 42000

Paid in capital in excess of par 30000

Inventory, January 1, 2015 149000

Inventory December 31, 2015 120000

Accounts payable 71000

Salaries payable 5000

Cash surrender value of life insurance 22000

Patents 18000

Retained earnings, January 1, 2015 60600

Interest expense 13000

General and administrative expenses 60000

Dividend revenue 6000

Allowance for doubtful accounts 3000

Notes payable (maturity 7/01/17) 105000

Machinery and equipment 150000

Income tax expense 30600

Treasury stock 10000

Dividends declared and paid 18000

Required - Prepare multiple columns income statement, Owners equity and balance sheet as on 31st December 2015.