I need 1) Income Statement 2) Retained Earnings Statement 3) Statement of Stockh

Question

I need

1) Income Statement

2) Retained Earnings Statement

3) Statement of Stockholder's Equity

4) Balance Sheet

5) Statement of Cash Flows

Fort Myers General Merchandise Co. Chart of Accounts and balances as of 12/31/2015 Selected Balances provided as of 12/31/2014 Balances Selected Balances Acct No. Description 12/31/2015 12/31/2014 1100 Cash 84,500                         73,050 1120 Accounts Receivable 247,450                      253,975 1150 Merchandise Inventory 550,000                      383,975 1160 Prepaid Insurance 4,800                           2,400 1170 Store Supplies 4,000                               750 1230 Store Equipment 569,500 1240 Accumulated Depreciation—Store Equipment 70,700                         56,700 2100 Accounts Payable 209,000                      198,525 2110 Salaries Payable 47,750                         42,625 Long Term Notes 300,000                      300,000 3100 Common Stock (10,000 shares issued, $25 Par) 250,000                      250,000 3110 Capital in Excess of Par Value 100,000                      100,000 3120 Dividends Paid 100,000 3200 Retained Earnings 335,300                      335,300 4100 Sales 5,032,350                   4,225,135 4110 Sales Returns and Allowances 113,700                         15,955 4120 Sales Discounts 61,600                         35,455 5100 Cost of Merchandise Sold 3,012,150                   2,300,422 5200 Sales Salaries Expense 727,800 5210 Advertising Expense 292,000 5220 Depreciation Expense 14,000 5230 Store Supplies Expense 9,800 5290 Miscellaneous Selling Expense 12,600 5300 Office Salaries Expense 417,700 5310 Rent Expense 88,700 5320 Insurance Expense 12,000 5390 Miscellaneous Administrative Expense 7,800 5650 Interest Expense 15,000 Total Assets at 12/31/2014                   1,125,138

Explanation / Answer

INCOME STATEMENT

Less: Interest Expense

RETAINED EARNINGS STATEMENT

Statement of Stockholder's Equity

BALANCE SHEET

PARTICULARS AMOUNT($) TOTAL AMOUNT ($) Sales 5032350 Less: Sales Returns and Allowances 113700 Less: Sales Discounts 61600 175300 NET SALES 4857050 Less: Cost of Merchandise Sold 3012150 GROSS PROFIT 1844900 EXPENSES: Sales Salaries Expense 727800 Advertising Expense 292000 Depreciation Expense 14000 Store Supplies Expense 9800 Miscellaneous Selling Expense 12600 Office Salaries Expense 417700 Rent Expense 88700 Insurance Expense 12000 Miscellaneous Administrative Expense 7800 1582400 OPERATING INCOME 262500

Less: Interest Expense

15000 NET INCOME 247500

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