Essay
The financial statement columns of the worksheet for The Coffee Pot at December 31, 2014, are as follows: 
Instructions
(a) Calculate the retained earnings balance that would appear on a Statement of financial position at December 31, 2014.
(b) Prepare a classified statement of financial position for The Coffee Pot at December 31, 2014 assuming the note payable is a long-term liability.
Correct Answer:
Verified
Correct Answer:
Verified
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