Financial Statement Preparation Assignment

Financial Statement Preparation Assignment Required: Prepare a statement of financial position, statement of earnings, and statement of retained earnings in proper financial statement format for Marmidan Corporation Inc., a private corporation incorporated on January 1, 2014, for the year ended December 31, 2014 based on the following data from the company’s pre-closing trial balance: Prepaid expenses                                                        $        5,693 Land (cost)                                                                       100,000 Building (cost)                                                                 139,398 Accrued liabilities                                                                                                       27,100 Sales                                                                                                                          854,750 Selling expense                                                                176,035 Interest income on investments                                                                                    8,000 Gain on sale of investments                                                                                          5,095 Building, accumulated depreciation                                                                              3845 Income tax payable                                                                                                       8,370 Accounts receivable, trade                                               158,395 Goodwill (cost)                                                                 24,930 Cash                                                                                    9,810 Bank operating line of credit                                                                                      10,000 Equipment (cost)                                                             243,450 General and administrative expenses                              145,760 Inventory                                                                           83,194 Accounts payable                                                                                                        37,899 Financial expenses                                                            15,000 Loan payable to shareholder due on demand                                                                3,743 Income tax expense                                                            8,370 H.s.t.  payable                                                                                                                9,157 Bond payable, 4%, repayable $10,000 per year until maturity                                 120,000 Customer deposits payable                                                                                         10,900 Equipment, accumulated depreciation                                                                        45,195 Common shares                                                                                                         450,000 Cost of goods sold                                                           475,250                            1594054 Dividends declared                                                              8,769 1594054 PLACE THIS ORDER OR A SIMILAR ORDER WITH US TODAY AND GET AN AMAZING DISCOUNT :)