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Beacon Company maintains and repairs warnings lights, such as those found on radio towers and lighthouses. Beacon Company prepared the end-of-period spreadsheet shown on the next page at October 31, 2012, the end of the current fiscal year.
Instructions1. Prepare an Income statement for the year ended October 31.2. Prepare a retained earnings statement for the year ended October 31.3. Prepare a balance sheet as of October 31.4. Based upon the end-of-period spreadsheet, journalize the closing entries.5. Prepare a post-closing trialbalance.
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