Use the following accounts and information to prepare, in good form, a multiple step income statement, retained earnings statement, and classified balance sheet for Mitchell Enterprises for the year ended December 31, 2019. The company has 37,000 shares of its $5 par value common stock issued and outstanding all during the year. Mitchell Enterprises Adjusted Trial Balance December 31, 2019

The information for adjusted trial balance of Mitchell Enterprises is missing.

The 37,000 shares at $5 par value will be reported in Balance Sheet at the Equity and Liabilities side under Equity head.

Shares will be reported as:

Common Stock  37,000 * $5 = $185,000

The rest of the data from Trial Balance will be reported in Balance Sheet and Income Statement.

Explanation:

The information for adjusted trial balance of Mitchell Enterprises is missing.

The 37,000 shares at $5 par value will be reported in Balance Sheet at the Equity and Liabilities side under Equity head.

Shares will be reported as:

Common Stock  37,000 * $5 = $185,000

The rest of the data from Trial Balance will be reported in Balance Sheet and Income Statement.

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