ACCT 320 SIM1: PREPARING FINANCIAL STATEMENTS IN EXCEL - INSTRUCTIONS Instructions for Completion of Assignment: Working together with others in the class is encouraged, though each person must submit their own work. - Prepare a trial balance, multi-step income statement, statement of stockholders equity, and balance sheet for Prof IT Co. as of August 31,2023 - All statements should be completed in the "Prof IT Co." worksheet The multi-step income statement should be completed in the yellow section. There are exactly enough lines highlighted in yellow The statement of stockholders equity should be completed in the grey section. There are exactly enough lines highlighted in grey. The balance sheet should be completed in the blue section. There are exactly enough lines highlighted in blue. - All numbers must be formatted as numbers with commas and no decimals or dollar signs. - All cells must be the proper width so the content is completely visible. - Cell height and font size may not be changed. - All totals, subtotals, and calculations must be populated with a formula and not with hard coded amounts. - The title section of each report or financial statement must have merged cells so that each line is one cell for each report or statement. - Include line titles and proper and consistent formatting of text and numbers throughout the reports (font type, font size, font color, background color, etc). - Do not put any blank lines anywhere within the reports or financial statements. - All totals and subtotals must have total lines where appropriate. - The only bolded font that should be used is in the titles and the titles of the two main sections of the balance sheet. Instructions for Turning In Assignment: Assignment must be turned in on Canvas in Excel format. ACCT 320 SIM1: PREPARING FINANCIAL STATEMENTS IN EXCEL - INSTRUCTIONS Instructions for Completion of Assignment: Working together with others in the class is encouraged, though each person must submit their own work. - Prepare a trial balance, multi-step income statement, statement of stockholders equity, and balance sheet for Prof IT Co. as of August 31,2023 - All statements should be completed in the "Prof IT Co." worksheet The multi-step income statement should be completed in the yellow section. There are exactly enough lines highlighted in yellow The statement of stockholders equity should be completed in the grey section. There are exactly enough lines highlighted in grey. The balance sheet should be completed in the blue section. There are exactly enough lines highlighted in blue. - All numbers must be formatted as numbers with commas and no decimals or dollar signs. - All cells must be the proper width so the content is completely visible. - Cell height and font size may not be changed. - All totals, subtotals, and calculations must be populated with a formula and not with hard coded amounts. - The title section of each report or financial statement must have merged cells so that each line is one cell for each report or statement. - Include line titles and proper and consistent formatting of text and numbers throughout the reports (font type, font size, font color, background color, etc). - Do not put any blank lines anywhere within the reports or financial statements. - All totals and subtotals must have total lines where appropriate. - The only bolded font that should be used is in the titles and the titles of the two main sections of the balance sheet. Instructions for Turning In Assignment: Assignment must be turned in on Canvas in Excel format