prepare financial statements and then analyze


(a) An estimated income statement showing the effects of the expected transactions for the second quarter and third quarter.

(b) Forecasts of collections from accounts receivable by months and of disbursements by months.

(c) A summary cash statements, showing the amount of bank loans and the repayment of them; this statement should also show the expected cash balance at September 30.

(d) An estimated balance sheet showing the expected financial position of the Illinois Novelty Company at September 30.

(e) Upon completion, you will have three income statements and two balance sheets. Make a complete comparative financial analysis involving these four statements.