PLEASE HELP. I have a teacher who teaches us nothing and I\'ve been struggling t

Question

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

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. 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

Explanation / Answer

0.014 0.07

  

Income statement for the year ended 31st Dec 2016 Particulars Amount (2016) Amount (2015) Revenue from operations              84,30,061                  65,26,967 Other income                    10,126                        18,227              84,40,187                  65,45,194 Cost of materials sold 30,00,235 27,63,584 Depreciation exp                3,07,200                    3,11,236 Finance cost                2,01,366                    2,50,000 General & admin exp              17,32,429                  14,59,695 Selling                    19,365                        58,890 Net profit/(loss) from continued operations              31,79,592                  17,01,789 Income from discontinued operations                    28,100                          7,453 Provision for income tax 2,45,105 2,01,636 Net profit/(loss) for the year             29,62,587                 15,07,606 Basic EPS (29,62,587/208,448,076) 0.014 0.007 Diluted EPS 29,62,587/210,348,076)

0.014 0.07

  

( Balance sheet as on 31st Dec 2016 Partculars Amount (2016) Amount (2015) Equity & Liabilities Shareholders equity Share capital 299379 299379 Reserves & surplus a) retained earnigs     2,960,256 b) C.Y proft                     29,62,587 3256513 2960256 Non current liabilties; Bonds 2,44,563 2,49,046 Long term debt 3223713 3702700 Dffereed tax liability     229,000 4,40,263 Long term provisions 802316 402634 Assets Tangible assets      29,43,216 less: Accumulated dep     -18,29,634           11,13,582              19,36,727 Intangible assets 32,12,491 32,12,491 Non current asstes        12,35,000 14,56,896 Trade receivables 14,56,896 32,45,967 Inventory 163214 2,24,561 cash & cash equivale 401236 7,51,329

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