Prepare financial statements for the month ending january 31, 2019. (income statement, statement of retained earnings, classified balance sheet ). formatting is important and will be graded so be sure you use dollar signs and underlines as appropriate. also be sure you have headings and proper column usage for all statements. there is a tab for these statements. heading are partially completed for the 3 statements. prepare closing entries for the end of the period

1. what is the lowest balance during this period? 2. lily just received her bank statement below. a. what does the bank think her ending balance is? b. how much more does the bank think lily has? c. what transactions are missing? 3. what is the danger of not balancing your bank account? lily’s bank statement deposits: 2/25 $35 2/26 $20 3/1 $256.32 checks: 2/24 ck #301 $25 2/26 #302 $150 debit card: 2/24 american eagle $75.48 2/25 chick fa la $4.67 2/27 mcdonalds $3.56 2/28 chevron $34.76 withdrawal: 2/27 $40 beginning balance $423.34 deposits $311.32 total debits $333.47 ending balance $401.19

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