accounting assignment financial statements and gross profit

Review the transactions and financial position of Ma and Pa Grocery as of December 31, 20##, in the Excel Template.


  1. Prepare the Income Statement for the period ending December 31, 20##.
  2. Prepare the Statement of Retained Earnings for the period ending 12/31/20##.
  3. Prepare the Balance Sheet for the period ending 12/31/20##.
  4. Calculate the gross profit % for the year.
  5. Calculate the current ratio for the year.
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