The adjusted trial balance for lightning courier as of, Accounting Basics

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The adjusted trial balance for lightning courier as of

Question: The adjusted trial balance for Lightning Courier as of December 31, 2011, follows.

Required: 1. Use the information in the adjusted trial balance to prepare (a) the income statement for the year ended December 31, 2011, (b) the statement of owner's equity for the year ended December 31, 2011, and (c) the balance sheet as of December 31, 2011.

2. Calculate the profit margin for year 2011.

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Accounting Basics: The adjusted trial balance for lightning courier as of

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