A list of account balances for “Amara Inc” as at the 30th June 2020 is shown below. Account name $ Cash 18,700 Equipment 29,000 Accumulated depreciation of equipment 14,000 Accounts payable 11,200 Capital (1 July 2019) 9,500 Retained earnings (1 July 2019) 8,200 Dividend paid 25,000   Additional information: Net profit after tax for the year ended 30 June 2020 was $29,800 Required: Prepare the statement of changes in Owners’ Equity for the year ended 30th June 2020 Prepare a fully classified balance sheet as at 30th June 2020.

Computing Financial Statement Measures The following pretax amounts are taken from the adjusted trial balance of Mastery Inc. on December 31, 2020, its annual year-end. Assume that the income tax rate for all items is 25%. The average number of common shares outstanding during the year was 20,000.   Balance, retained earnings, December 31, 2019 $ 45,000 Sales revenue 300,000 Cost of goods sold 105,000 Selling expenses 36,000 Administrative expenses 34,000 Gain on sale of investments 10,000 Unrealized holding gain on debt investments, net of tax 4,250 Prior period adjustment, understatement of depreciation from prior period (2019) 20,000 Dividends declared and paid 16,000     Required Compute the following amounts for the year-end financial statements of 2020. Do not use negative signs with any of your answers. Round the per share amount to two decimal places. Item Amount a. Gross profit (2020).   b. Operating income (2020).   c. Net…

The following are Grouper Corp.’s comparative balance sheet accounts at December 31, 2020 and 2019, with a column showing the increase (decrease) from 2019 to 2020. COMPARATIVE BALANCE SHEETS     2020   2019   Increase(Decrease) Cash   $818,200     $696,600     $121,600   Accounts receivable   1,132,100     1,177,800     (45,700 ) Inventory   1,841,000     1,713,900     127,100   Property, plant, and equipment   3,334,900     2,970,400     364,500   Accumulated depreciation   (1,157,500 )   (1,030,100 )   (127,400 ) Investment in Myers Co.   308,600     273,500     35,100   Loan receivable   249,300     —     249,300      Total assets   $6,526,600     $5,802,100     $724,500                       Accounts payable   $1,007,200     $949,700     $57,500   Income taxes payable   30,200     50,300     (20,100 ) Dividends payable   80,000     99,900…

Following are selected accounts for Best Buy, Inc., for the fiscal year ended February 2, 2019. (a) Indicate whether each account appears on the balance sheet (B) or income statement (I). Best Buy, Inc. ($ millions)Amount Classification  Sales $42,879 Answer B I    Accumulated depreciation 6,690 Answer B I  Depreciation expense   770  Answer B I  Retained earnings  2,985  Answer B I   Net income 1,464 Answer B I   Property, plant & equipment, net 2,510 Answer B I   Selling, general and admin expense 8,015 Answer B I  Accounts receivable 1,015  AnswerB I   Total liabilities 9,595  Answer B I  Stockholders' equity  3,306  Answer B  I (b) Using the data, compute total assets and total expenses. Total Assets Answer Total Expenses Answer answer complete and correct and in detail with all work