ACCT 2023 PROJECT 1 Solar Solutions began operations on January 1, 2015, and is now in il Solar Soluti Solar Soluti Solar Soluti Solar Soluti Solar S Solar Solutions began operations on January 1, 2015, and is now in its sixth year of operations. It is a retail sales company with a large amount of online sales. usted trial balance as of December 31, 2020 appears below, along with prior year balance sheet data and some additional transaction data for 2020. Account Title Cash Accounts Receivable Prepaid Insurance Inventory Office Equipment Machinery & Tools Accumulated Depreciation Accounts Payable Salaries Payable Sales Tax Payable Note Payable-Long Term Common Stock, $10 par Retained Earnings Dividends Sales Revenue Cost of Goods Sold Rent Expense Salaries Expense Insurance Expense Advertising Expense Depreciation Expense Interest Expense Income Tax Expense SOLAR SOLUTIONS Adjusted Trial Balance 12/31/2020 Acquisition of Machinery with Notes Payable-Long-term Payment on Long Term Debt Cash payment of dividends Cash receipt from issuance of 10,000 shares of common stock 2020 2019 Adjusted Trial Balancest-Closing Trial Balar Debit Credit $ 122,200 55,000 5,000 46,000 63,000 59,000 Instructions Income Statement 10,000 127,600 20,000 36,000 11,800 6,000 5,000 1,800 3,000 Credit 16,000 16,800 2,700 4,000 22,100 160,000 28,600 Page 1 ****** ****** ****** 250,200 10,000 80,000 $ 21,000 11,200 2,600 2,000 31,000 Transaction Data for 2020 (Note, these transactions were included in the trial balance numbers above.) Cash paid for purchase of office equipment $ 6,000 Cash paid for purchase of tools 10,000 38,000 ? 240,000 28,600 Debit $ 125,600 235,000 35,000 6,000 15,600 47,000 21,000 Balance Sheet Stmt of Cash Flows ##### 35,000 6,000 15,600 47,000 21,000 (16,000) ##### Analysis Investment Essay + Instructions Income Statement SOLAR SOLUTIONS Balance Sheet December 31, 2020 Balance Sheet Stmt of Cash Flows Analysis O J Investment Essay Vert. Analysis A