1. Read the conversation between the accountant and the owner at Project Part I Script below. 2. Use the unadjusted trial balance on the original Trial Balance worksheet in the Project 1 spreadsheet, plus the information you gather from the owner accountant's discussion to develop GAAP-compliant financial statements in the EXCEL workbook provided. 3. Prepare adjusting /error correction journal entries in the General Journal worksheet skip the General Ledger worksheet. 4. Prepare an Adjusted Trial Balance on the Trial Balance worksheet. You should use a format similar to the Worksheet illustrated in the lectures and found in your text in llustration 3.11 on page 3-30. Note that for this assignment you will apply the adjustments to the original Trial Balance to prepare the Adjusted Trial Balance columns of the worksheet. 5. Prepare an Income Statement, Statement of Retained Earnings, and Balance Sheet in good form on the appropriate worksheets. 6. Prepare a memorandum in a separate WORD file to the owner that presents your evaluation of the company's cash management and profitability and explains the transformation of the unadjusted trial balance to finished financial statements