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Financial Statements Charles found some sample income statements and balance sheets on the Internet, and asked which of them might be most appropriate for a manufacturing business like his. Review income statements A and B, and balance sheets C and D. Determir which income statement and balance sheet would be most appropriate for a manufacturing business like Able Baker Charlie Company. Administrative expenses 5,250 Total operating expenses Net income Income Statement B $19,100(11,650) Sample Company B Income Statement For the Year Ended December 31, 20 Y8 \begin{tabular}{|c|c|c|} \hline Sales . & & $42,000 \\ \hline Beginning inventory & $5,250 & \\ \hline Net purchases & 6,400 & \\ \hline Inventory available for sale & $11,650 & \\ \hline Ending inventory & (400) & \\ \hline Cost of goods sold & & (11,250) \\ \hline Gross profit & & $30,750 \\ \hline \multicolumn{3}{|l|}{ Operating expenses: } \\ \hline Selling expenses & $6,400 & \\ \hline Administrative expenses & 5,250 & \\ \hline Total operating expenses & & (11,650) \\ \hline Net income & & $19,100 \\ \hline \end{tabular} Balance Sheet C Sample Company C Balance Sheet December 31, 20Y8 2 more Check My Work uses remaining. Which balance sheet is most appropriate for a manufacturing business? Costs and Balances At the end of February, after the second month of operations of Able Baker Charlie Company, Charles shows you the data he's collected, but he was unable to figure out some of the amounts. Review the following data and fill in the missing amounts on the chart for Able Baker Charie Company. Note: it may be helpful to use T accounts to map the flow of the amounts through the manufacturing accounts and solve for the missing dollar values. It may also be helpful to review the steps for determining the cost of materials used, total manufacturing cost incurred, and cost of goods manufactured. 2 more Check My Work wses remaining At the end of February, after the second month of operations of Able Baker Charlie Company, Charles shows you the data he's collected, but he was unable to figure out some of the amounts. Review the following data and fill in the missing amounts on the chart for Able Baker Charlie Company. Note: It may be helpful to use T accounts to map the flow of the amounts through the manufacturing accounts and solve for the missing dollar values. It may also be helpful to review the steps for determining the cost of materials used, total manufacturing cost incurred, and cost of goods manufactured

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