Comparative financial statements for Larson Company,prepared on December 31 are shown below:

Required:
Assume that one-third of sales are on credit and that cash dividends of $3,000 were declared and paid in 2012.Then,complete a percentage change income statement and a percentage change balance sheet for the company,using both amount and percentage changes from 2011 to 2012.

Question

Comparative financial statements for Larson Company,prepared on December 31 are shown below:
  
Required:
Assume that one-third of sales are on credit and that cash dividends of $3,000 were declared and paid in 2012.Then,complete a percentage change income statement and a percentage change balance sheet for the company,using both amount and percentage changes from 2011 to 2012.

Quizplus · Accepted Answer

The Answer of Comparative financial statements for Larson Company,prepared on December 31 are shown below:
  
Required:
Assume that one-third of sales are on credit and that cash dividends of $3,000 were declared and paid in 2012.Then,complete a percentage change income statement and a percentage change balance sheet for the company,using both amount and percentage changes from 2011 to 2012.

Comparative Financial Statements for Larson Company,prepared on December 31 Are