Preparing a multi-step income statement and a classified balance sheet← Link Back to Chapt...

Preparing a multi-step income statement and a classified balance sheet

← Link Back to Chapter 4 (Classified Balance Sheet). The accounts of Taylor Electronics Company are listed along with their balances before closing for the month ended March 31, 2012.

Requirements

1. Prepare Taylor Electronics’ multi-step income statement.

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2. Prepare Taylor Electronics’ statement of owner’s equity.

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3. Prepare Taylor Electronics’ classified balance sheet in report form.