Incomplete financial statements for Baxter, Inc. follow. ____________________________________BAXTER, INC. ___________________________________Income Statement _____________________________Year Ended November 30, 2015 Revenues……………………………………………………………………$90,000 Operating expenses ……………………………………………………………….[1] Profit before income tax……………………………………………………..30,000 Income tax expense……………………………………………………………6,000 Profit…………………………………………………………………………..$ [2] Instructions (a) Calculate the missing amounts for [1] to [13]. Note that you may not be able to solve each item in numerical order. (b) Explain (1) The sequence for preparing the financial statements, and (2) The interrelationships between the income statement, statement of changes in equity, and statement of financial position.

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