1. Choose a company listed in Toronto Stock Exchange(TSE) and analyze the company's Financial Statements. (Income Statement and Balance Sheet). Collect the annual report of the company for 2020 and analyze each of the component in the Income Statement and Balance Sheet. You must submit the income statement and Balance Sheet along with your report. The company must not be a Financial institution as the income statement and balance sheet of financial institution is different. You can also check notes in the annual report to gather more information about any of the component in the Income Statement and Balance Sheet. You must provide a brief background of the company at the beginning and also comment on the overall condition of the company at the end. (40 Marks) 2. Prepare the closing journals by using the adjusted trial balance attached with the assignment and prepare the post closing trial balance. (20 Marks) Requirements: Paul's Guitar Shop, Inc. Adjusted Trial Balance December 31, 2015 Debit Account Credit 32,800 300 1,000 39,800 100,000 Cash Accounts Receivable Prepaid Rent Inventory Leasehold Improvements Accumulated Depreciation Accounts Payable Accrued Expenses Unearned Income Long-term Liabilities Common Stock Dividends Revenues Cost of Goods Sold Depreciation Expense Rent Expense Supplies Expense Utilities Expense Wages Expense Interest Expense 2,000 $ 49,000 450 1,000 99,500 10,000 1,000 27,800 10,200 2,000 500 500 400 750 500 $ 189,750 $ (189,750) Totals