1 2 ACCT551 Project Instructions 2022als Excel Home Insert Page Layout Formulas Data Review View Help Tell me what you want to do Cut Cal A A Wrap Text General Normal Bad Good Neutral Copy BIU- 4.1. ===Merge & Center - $ 9. Format Painter lgboard Conditional Format as Check Cell Formatting Table- Explanatory Input Cell Font Alignment Number Styles So N o A B D H This course project is designed to apply financial reporting principles relating to intangibles, current liabilities and long-term liabilities for a ficititious (though realistic) company scenario. GeneralProducts, Inc. was incorporated in Nevada on January 1, 2019, to take over a local retail chain and to supply goods to customers at the most competitive prices, both in stores and online. To complete this project, you'll need to use the financial information below in the prior year's Balance Sheet (dated December 31, 2021) along with the current financial data provided for 2022. GeneralProducts, Inc.. Balance Sheet As of December 31, 2021 Q ASSETS Current Assets Cash Accounts Receivable Merchandise Inventory Total Current Assets Long-Term Assets Investments Property, Plant and Equipment (PP&E) Less Accumulated Depreciation Total Long-Term Assets Intangible Assets Trademarks Less: Accumulated Amortization Total Assets 11,900 20,520 317,060 349,560 66,775 750,000 (90,000) 660,000 726,775 24 25 26 27 28 200,000 (10,000) 190,000 1,6,335 LABILITIES 39 30 Accounts Payable Total Liabilities 50,722 50,722 31 32 STOCKHOLDERS EQUITY 31 34 35 200,000 shares issued and outstanding) Common Stock (300,000 shares authorized, par value $1, Paid-in Capital in Excess of Par Common Stock 3101 39 Retained Earnings Total Stockholders' Equity Total Liabilities and Stickholders' Equity 200,000 979,278 36,335 1,715,613 1,76,335 D