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Problem 4-3B Molinda Company

Price: $2.50

P4-3B The completed financial statement columns of the worksheet for Molinda Company
are shown below and on the next page.

(a) Prepare an income statement, a retained earnings statement, and a classified balance sheet.
(b) Prepare the closing entries. No additional issuance of common stock occurred during the year.
(c) Post the closing entries and rule and balance the accounts. Use T accounts. Income Summary
is account No. 350.
(d) Prepare a post-closing trial balance.

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