(Solved): Problem 1-5A Preparing a balance sheet LO P2 Required: Prepare a year-end balance sheet for Armani ...

Problem 1-5A Preparing a balance sheet LO P2 Required: Prepare a year-end balance sheet for Armani Company. ARMANI COMPANY Balance Sheet December 31, 2019 Assets Liabilities Total liabilities Equity Total equity 0 Total liabilities and equity Total assets $ $ 0 0 0 ! Required information Use the following information for problem 3 to 5 LO P2 As of December 31, 2019, Armani Company's financial records show the following items and amounts. Cash $11,000 10,000 Accounts receivable Supplies 7,000 Equipment 6,000 Accounts payable 13,000 Common stock 15,000 4,000 Retained earnings, Dec. 31, 2018 Retained earnings, Dec. 31, 2019 Dividends 6,000 14,000 Consulting revenue 35,000 Rental revenue 24,000 Salaries expense 21,000 Rent expense 13,000 Selling and administrative expenses 9,000 Problem 1-3A Preparing an income statement LO P2 Problem 1-3A Preparing an income statement LO P2 Required: Prepare the 2019 year-end income statement for Armani Company. ARMANI COMPANY Income Statement For Year Ended December 31, 2019 Revenues 0 Total revenues Expenses Total expenses $ 0 Problem 1-4A Preparing a statement of retained earnings LO P2 Required: Prepare a year-end statement of retained earnings for Armani Company. ARMANI COMPANY Statement of Retained Earnings For Year Ended December 31, 2019 Retained earnings, December 31, 2018 0 Retained earnings, December 31, 2019 $ 0