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1) We sold marketable securities at no gain or loss that had a cost of $10,000

2) Proceeds from the sale of equipment, with a Cost of $35,000

3) The Long-term investments that were sold had NO cost basis, ie BV was zero

4) Gain on sale of Discontinued Operations was totally from Operations, NO assets were sold

Also on the tab "Trial Balances" are the beginning and ending trial balances for 2021 in alphabetical order, NOT in classification order, or Chart of Accounts order. You will therefore have to figure out where the items go in the requirements below.

Between the trial balances and the additional information you are required to do the following:

1) The formal Multi-Step income statement for 2021

2) The formal statement of Retained earnings for 2021

3) The formal Classified Balance Sheet for 2021

4) The formal Statement of Cash Flows for 2021

5) Had (ie these do not affect any work above) the company had the following Comprehensive income items prepare the Schedule of Comprehensive income based upon the income arrived at in 1 above

a) Foreign currency translation loss of $10,000, net of tax

b) Cost of Defined Benefits plans is $5,000, net of tax

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A B D E F G Pumpkin Carriage Co Adjusted Trial Balance at December 31, 2020 Debit Credit 68,000 95,000 70,000 134,000 15,000 200,000 8,000 160,000 13,000 300,000 1 2 3 4 Account Name 5 Accounts Payable 6 Accounts Receivable 7 Accum Depr - Bldg 8 Accum Depr - Equip 9 Accumulated Other Comprehensive Income 10 Building 11 Cash 12 COGS Raw Material 13 COGS Direct Labor 14 COGS MFOI Various Overhead Expenses 15 COGS MFOI Depreciation - Bldg 16 COGS MFOI Depreciation - Equip 17 Common Stock, $15 Par 18 Current Portion of LTD 19 Dividends 20 Equipment 21 Gain on Sale of Long Term Investments 22 Gain on Discontinued operations 23 Income tax expense on discontinued operations 24 Income tax Expense 25 Income Taxes Payable 26 Interest and Dividend Income 27 Interest Expense 28 Inventory 29 Land 30 Long-term Debt, net 31 Long-term investments 32 Loss of Sale of Equipment 33 Marketable securities 34 Note payable - current 35 OE Various Operating Expense 36 OE Depreciation - Bldg 37 OE Depreciation - Equip 38 Paid in Capital 39 Patents 40 Prepaids 41 Retained earnings 42 Salaries Payable 43 Sales Revenue 44 Treasurey Stock 45 Unrealized Loss on Mkt Securities Pumpkin Carriage Co Adjusted Trial Balance at December 31, 2021 Debit Credit 88,000 100,000 90,000 150,000 15,000 200,000 12,000 172,000 135,000 40,000 15,000 15,000 200,000 30,000 20,000 400,000 5,000 20,000 5,000 66,000 18,000 4,000 20,000 60,000 40,000 130,000 50,000 10,000 75,000 40,000 160,000 5,000 5,000 100,000 90,000 8,000 80,000 26,000 758,000 40,000 3,000 12,000 40,000 40,000 100,000 30,000 50,000 90,000 80,000 50,000 10,000 80,000 16,000 15,000 46 47 48 49 50 51 Total 1,750,000 1,750,000 838,000 838,000 52 A B D E F G Pumpkin Carriage Co Adjusted Trial Balance at December 31, 2020 Debit Credit 68,000 95,000 70,000 134,000 15,000 200,000 8,000 160,000 13,000 300,000 1 2 3 4 Account Name 5 Accounts Payable 6 Accounts Receivable 7 Accum Depr - Bldg 8 Accum Depr - Equip 9 Accumulated Other Comprehensive Income 10 Building 11 Cash 12 COGS Raw Material 13 COGS Direct Labor 14 COGS MFOI Various Overhead Expenses 15 COGS MFOI Depreciation - Bldg 16 COGS MFOI Depreciation - Equip 17 Common Stock, $15 Par 18 Current Portion of LTD 19 Dividends 20 Equipment 21 Gain on Sale of Long Term Investments 22 Gain on Discontinued operations 23 Income tax expense on discontinued operations 24 Income tax Expense 25 Income Taxes Payable 26 Interest and Dividend Income 27 Interest Expense 28 Inventory 29 Land 30 Long-term Debt, net 31 Long-term investments 32 Loss of Sale of Equipment 33 Marketable securities 34 Note payable - current 35 OE Various Operating Expense 36 OE Depreciation - Bldg 37 OE Depreciation - Equip 38 Paid in Capital 39 Patents 40 Prepaids 41 Retained earnings 42 Salaries Payable 43 Sales Revenue 44 Treasurey Stock 45 Unrealized Loss on Mkt Securities Pumpkin Carriage Co Adjusted Trial Balance at December 31, 2021 Debit Credit 88,000 100,000 90,000 150,000 15,000 200,000 12,000 172,000 135,000 40,000 15,000 15,000 200,000 30,000 20,000 400,000 5,000 20,000 5,000 66,000 18,000 4,000 20,000 60,000 40,000 130,000 50,000 10,000 75,000 40,000 160,000 5,000 5,000 100,000 90,000 8,000 80,000 26,000 758,000 40,000 3,000 12,000 40,000 40,000 100,000 30,000 50,000 90,000 80,000 50,000 10,000 80,000 16,000 15,000 46 47 48 49 50 51 Total 1,750,000 1,750,000 838,000 838,000 52

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