Using the data for Brady and Co. provided in the sheet...
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Accounting
Using the data for Brady and Co. provided in the sheet labeled "Trial Balance" prepare:
Balance Sheet - comparative, classified in proper format for fiscal years 2015 and 2016
Income Statement - multiple-step for fiscal years 2015 and 2016. Include earnings per share data.
Statement of Retained Earnings for 2016.
Use separate sheets, appropriately named, for each financial statement in good form.
List 5 notes that would be required if you were also preparing the notes to these financial statements.
Do not prepare the notes, just briefly list the accounts, etc. for which GAAP would require disclosure
based on Brady's financial statements.
PLEASE HELP. I have a teacher who teaches us nothing and I've been struggling to figure out how to complete the statements with the book for weeks. I'm also confused on how I'm suppossed to include earnings per share on the income statement. I posted the trial balance once above and once below in case it helps
Brady and Co.
List of Accounts from General Ledger in Alphabetical Order
Common Stock ($1.00 par value) authorized 900 million shares
300,000
284,000
issued 300 million shares in 2016, 284 million in 2015
Cost of Goods Sold
3,000,235
2,763,584
Current Portion of Long-term Debt
720,125
849,869
Deferred Tax Assets (current)
62,596
81,236
Deferred Tax Liabilities (long-term)
229,000
440,263
Depreciation Expense
307,200
311,236
Dividends - Common
292,351
214,956
Dividends - Preferred
2,000
945
General & Administrative Expenses
1,732,429
1,459,695
Goodwill and Other Intangibles
3,212,491
3,212,491
Income Taxes Payable
246,002
102,563
Interest Expense
201,366
250,000
Interest Income
10,126
18,227
Investments in unconsolidated affiliated companies
1,235,000
1,456,896
Inventories
163,214
224,561
Long-term Debt
3,223,713
3,702,700
(Loss) Income from Discontinued Operations, net of tax
28,100
7,453
Preferred Stock ($10 par value) authorized 10 million shares
900
900
issued 90,000 shares in 2016, 90,000 in 2015
Prepaid Expenses
141,029
170,296
Property, Plant and Equipment
2,943,216
3,936,726
Provision for income taxes
245,105
201,636
Research and Development Expenses
199,500
496,597
Restructuring Charges
199,506
255,013
Retained Earnings, beginning
2,960,256
5,173,286
Sales
8,430,061
6,526,967
Selling Expenses
19,365
58,890
Short-term Investments
20,000
26,800
Treasury Stock, at cost - 117,156,719 shares in 2016
4,472,969
4,263,984
and 108,822,953 shares in 2015
Unearned Revenues
456,325
423,689
22,443,269
22,443,269
23,382,838
23,382,838
Net Income (loss)
-
-
Weighted average number of common shares:
FY 2016:
Basic
208,448,076 shares
Diluted
210,348,076 shares
FY 2015:
Basic
218,464,140 shares
Diluted
220,964,140 shares
Brady and Co List of Accounts from General Ledger in Alphabetical Order December 31, 2016 (thousands of dollars) 15 Cr l13r Cr 210 1079 83 Accounts Pavable Accounts Receivable Accrued Liabilities Other Accrued Pension Liabilities Accrued Restructuring Chan 7 2943,125 3,245,967 721,358 650,216 Wages and Commissions 364 621,236 Accumulated Other Comprehensive Income (Loss Accumulated Depreciation Property, Plant & Equipment 802,316 402,634 Additional Paid-in Capital, Preferred Stock Allowance for Doubtful Accounts 244,563 249,046 401,236 Cash and Cash Equivalents Common Stock (S1.00 par value) authorized 900 million shares 284,000 issued 300 million shares in 2016, 284 million in 2015 Cost of Goods Sold 3,000,235 2,763,584 720,125 849869 Deferred Tax Assets (current 440,263 Depreciation Ex Dividends- Common Dividends Preferred se 292,351 1,732,429 3,212,491 1,459,695 3,212 491 Goodwill and Other Intangibles Income Taxes Pavable Interest Expense nterest Income Investments in unconsolidated affiliated companies nventories 246,002 102,563 1235,000 163,214 3,702,700 7,453 900 3,223,713 Preferred Stock ($10 par value) authorized 10 million shares 900 issued 90,000 shares in 2016, 90,000 in 2015 Property Plant and Equipment Provision for income taxes 2,943,216 245,105 3,936,726 496,597 255,013 Restructuring Char Ret ained Earnings, beginning 2,960,256 8,430,061 5,173,286 Short-term Investments Treasury Stock, at cost 117,156,719 shares in 2016 4,472,969 4,263,984 and 108,822,953 shares in 2015 456,325 22,443,269 22,443,269 423,689 23,382,838 23,382,838 Unearned Revenues Net Income (loss Weighted average number of common shares: FY 2016 08,448,076 shar 210,348,076 shares FY 2015 Basic 218,464,140 shares
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