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Classified Balance Sheet Presented below is information taken from the adjusted trial balance of Kennedy...

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Accounting

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Classified Balance Sheet Presented below is information taken from the adjusted trial balance of Kennedy Corporation at 12/31/ year 2 Revenues minus expenses show that the company had a loss for the year of $2,500 No dividends were declared during the year. Since the income statements accounts have not been closed, the above $25,000 balance, is the beginning balance at 1/1/ year 2 . Requirements (The best way to do this is to put the following requirements on an excel spreadsheet) a. (1 point) Calculate the ending balance in retained earnings. b. ( 9 points) Prepare a classified balance sheet in good form (i.e., it should have a heading and each item should be clearly identified). Have pride in your work. Make it look professional

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