Cedar Furs Wholesalers , is a wholesaler that has engaged you to assist in the preparation of its financial statements at 12/31/2010. Listed below are the correct adjusted account balances, in alpha order, as of that date. Each balance is the normal balance for that account. (hint: the normal balance is the same as the debit or credit side that increases the account)
a. prepare income statement for 12/31/2010, which includes amounts for gross profit, income before income taxes, & net income. List expenses (other than cost of goods sold & income tax expense) in order, from to the smallest dollar balance. You may ignore earnings per share
