Amber’s flower company was started in 2014 when it acquired $80,000 cash from the issue of common stock. the following data summarize the company’s first three years’ operating activities. assume that all transactions were cash transactions. 2014 2015 2016 purchases of inventory $ 40,000 $ 55,000 $ 95,000 sales 75,000 88,000 146,000 cost of goods sold 38,000 49,000 82,000 selling and administrative expenses 29,000 35,000 42,000 required prepare an income statement (use multistep format) and balance sheet for each fiscal year. (hint: record the transaction data for each accounting period in the accounting equation before preparing the statements for that year.)

Jamie lee is reviewing her finances one month later. she has provided the actual amounts paid below. use the cash budget table below to her identify the variances in her budget. each answer must have a value for the assignment to be complete. enter "0" for any unused categories. actual amounts income: monthly expenses: gross monthly salary $2,315 rent obligation $260 net monthly salary $1,740 utilities/electricity $130 savings allocation: utilities/water $10 regular savings $130 utilities/cable tv $155 rainy-day savings $20 food $160 entertainment: gas/maintenance $205 cake decorating class $90 credit card payment $25 movies with friends $50 car insurance $75 clothing $145 budgeted amounts assets: monthly expenses: checking account $1,850 rent obligation $225 emergency fund savings account $4,300 utilities/electricity $75 car $5,200 utilities/water $35 computer & ipad $1,100 utilities/cable tv $120 liabilities: food $115 student loan $6,600 gas/maintenance $95 credit card balance $1,000 credit card payment $45 income: car insurance $45 gross monthly salary $2,155 clothing $45 net monthly salary $1,580 entertainment: savings allocation: cake decorating class $90 regular savings $130 movies with friends $50 rainy day savings $20