1.) Financial reports should include Income Statement, Statement of Owner's Equity (or Statement of Retained Earnings), and Balance Sheet.

2.) Closing Process should include journal entries and a post-closing trial balance.

3.) You can also look online for the most common accounting ratios for businesses. I need to have at least 7 or more ratios.

Adjusted Trial Balance Account Debit Credit $11,398.28 250.00 300.00 2,964.55 $ 325.00 2,000.00 4,983.54 75.00 100.00 15.00 1,466.67 542.00 25,000.00 77,000.00 Cash Petty Cash Payroll Checking Account Accounts Receivable Allowance for Doubtful Accounts Notes Receivable Inventory Grooming & Care Supplies Office Supplies Interest Receivable Prepaid Insurance Prepaid Advertising Land Building Accumulated Depr.-Bldg. Furniture and Fixtures Accumulated Depr.-Furn. & Fix. Office Equipment Accumulated Depr.-Office Equip. Vehicle Accumulated Depr.-Vehicle Accounts Payable Interest Payable Notes Payable-Current Sales Tax Payable Employee Federal Tax Payable FICA Tax Payable FUTA Tax Payable SUTA Tax Payable 15,200.00 9,000.00 3,871.67 7,400.00 3,223.50 16,200.00 32.40 3,651.94 50.00 6,000.00 1,118.99 1,010.00 2,016.22 289.91 527.10 527.10 8,100.00 295.00 24,806.68 93,919.50 8,650.00 Tax Payable Unearned Fees Insurance Payable Notes Payable-Long-term Alana Day, Capital Alana Day, Drawing Sales - Store Sales Grooming & Day Care Income Interest Revenue Sales Discount Sales Returns Cost of Goods Sold Freight Expense 7,498.52 18,200.00 15.00 43.03 224.00 4,389.30 122.50 16.58 Purchase Discounts Advertising Expense Bad Dept Expense Cash Over/Short Charitable Expense Depreciation Expense Grooming &Care Supplies Exp. Insurance Expense Maint.&Cleaning Exp. 317.00 25.00 1.50 54.00 421.57 190.00 133.33 675.10 317.00 Advertising Expense Bad Dept Expense Cash Over/Short Charitable Expense Depreciation Expense Grooming &Care Supplies Exp. Insurance Expense Maint. &Cleaning Exp. Office Supplies Expense Payroll Tax Expense Postage Expense Salaries Expense Wages Expense Telephone Expense Utilities Expense Interest Expense Totals: 25.00 1.50 54.00 421.57 190.00 133.33 675.10 189.20 1,825.12 222.40 5,650.00 7,527.50 63.50 518.42 230.50 $190,168.01 $190,168.01