Assignment

Prepare an income statement and retained earnings statement for the month of May and a balance sheet at May 31, 2012.

P1-4B, Determine items to be included in a statement of cash flows, prepare a cash flow statement and discuss the results.

Instructions:

(a)  Determine which items should be included in a statement of cash flows and then prepare the statement for Rowe Corporation.

P2-7B, Compute values and ratios for the following; discuss results.

Instructions:

(a)  For each company, compute these values and ratios:
be sure to show your computations!