The comparative trial balance of Cookie & Coffee Creations Inc. at October 31 for the years 2026 and 2025 is presented on the Trial Balance Tab. Additional information: 1 Equipment was disposed of at the beginning of the year for $500 cash (Loss already posted in Trial Balance). New equipment purchased for $4,000 cash.2 Additional equipment was bought for $14,000 on November 1, 2025 ($2,000 cash down-payment and a $12,000 note payable was signed). The terms provide for equal semi-annual installment payments of $2,000 on May 1 and November 1 of each year, plus interest of 5% on the outstanding principal balance XXXXXXXXXXHint: Only 1 note payment is paid by October 31, 2026.3 Other equipment was bought for $13,000 cash.4 Dividends of $27,000 were declared on the preferred and common stock on October 15, 2026, to be paid on November 15, 2026.5 Accounts payable relate only to merchandise creditors.6 Prepaid expenses relate only to other operating expenses.Instructions: (a) Prepare an income statement for Cookie & Coffee Creations Inc. for the year ended October 31, 2026.(b) Prepare a balance sheet for Cookie & Coffee Creations Inc. as of October 31, 2026.(c) Prepare a statement of cash flows for Cookie & Coffee Creations Inc. for the year ended October 31, 2026, using the indirect method.
Use the attached Excel file to complete the assignment.
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