Financial Statements

In class we reviewed how to produce an income statement for a merchandising corporation.  The income statement is the most difficult of the 3 main financial statements we have covered.  Afterwards, student learned how to create the Statement of Retained Earnings and the Balance Sheet.  After completing an example, students began working on 19-8 which puts everything together-the 10 column worksheet and 3 financials.  We will continue working on the activity on Friday.