a. prepare an income statement and statement of retained earnings for the year ended december 31,2015. also prepare the company’s balance sheet dated december 31,2015
d. using the financial statement prepared in part a, briefly evaluate the company’s profitability and liquidity.
Step-by-step solution1. Step 1 of 15(a)From the trial balance given in the question, the income statement is preparedbelow: 2. Step 2 of 15To prepare a statement of retained earnings, the…