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were continuing to work through problem 138 we didnt make much progress in the last video I kind of just laid out like okay were going to in this problem be doing an income statement the summary of revenues the expenses the statement of changes in equity tells us how common shares and retained earnings and any other equity accounts change during the year and the balance sheet the list of assets liabilities and shareholders equity accounts so in this video lets just kind of work through the accounts of sherry shuttles and well try to prepare an income statement based on what we see here so the question says sherry shuttles is a bus company offering rights to outdoor adventurers in the summer she caters to mountain bikers and in the winter to skiers Sherrys company has the following account balances all on December 31st 2024 and for the year that ended unless otherwise noted and theres a big long list of accounts below it notes the company did not issue a repurchase any common sh
