A. Mulitiple step income statement B. Statement of Change C. Balance sheet The f

Question

A. Mulitiple step income statement

B. Statement of Change

C. Balance sheet

The following information is available from the accounting records of Campus Company for the year endeo February 28, 2018 $200,000 158,000 Prepaid insurance.... 10,000 7,805,000 351,000 ...445,000 597,000 Merchandise inventory Mortgage payable (90,000 of this mortgage is to be paid within a year) Marketable securities Research and development expense Common Stock, $5 par value Land Allowance for bad debts Buildings. Dividend declared and paid.. 1,800,000 ..311,000 100,000 1,000,000 1. 260,000 20,000 . 1,040,000 18,000 207.000 197,000 1,800,000 70,000 900,000 Cash Selling Expense Warranty payable. Administrative expense. Interest expense Additional paid-in capital 151,000 720,000 Required: icrosoft Excel to prepare the following 2018 financial statements for Campus Company a. Multiple-step income statemert b. Statement of changes in stockholders' equity e. Balance sheet.

Explanation / Answer

Question a

Question b

Question c

Income Statement Sales Revenue 78,05,000 Less: Cost of Goods Sold -48,00,000 Gross Profit 30,05,000 Selling Expenses -18,00,000 Research and Development Expense    -1,00,000 Administrative Expense    -9,00,000 Operating Profit     2,05,000 Interest Expense    -1,51,000 Net Income          54,000 Dividends Paid       -18,000 Total Comprehensive Income transferred to Equity        36,000

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