After a successful first year at university, Stephanie Glenn was returning home for the summer to work. Stephanie's summer job was to try and learn many of the responsibilities of her family's glue stick business, which she would one day take over. To understand the business, her family felt that the first thing she should do was construct the three fundamental financial business statements. Her disorganized Uncle Melvin had provided her with the list of accounts that he had compiled for the fiscal year ending March 31, 2014, but in typical Uncle Melvin form, the accounts were in no particular order. Stephanie realized that she would have to use the skills she learned in Business 1220E to sort through them and construct a Statement of Earnings, a Statement of Retained Earnings and a Balance Sheet. After a quick glance, Stephanie realized that a number of the accounts were missing and that some didn't seem appropriate for the statements for Glenn's Glue Stick, Inc. $65,000 Selling Expenses Retained Earnings, 2014 Cost of Goods Sold $155,512 ? Income Tax Sales Ending Inventory, 2013 General and Administrative Expenses Dividends Windsurfer Accounts Payable Glue Making Machinery, Net Interest Expense Cash Salaries Notes Payable Long-Term Loan at March 31, 2013 Current Portion of Long Term Loan Working Capital Loan Rent Ending Inventory, 2014 Maintenance and Repairs Accounts Receivable Glue Making Machinery, Cost Depreciation Expense Purchases Retained Earnings, 2013 Common Stock 15% on the first $50,000; 25% on amount above Net Income Before Tax $5,750,000 $21,000 $38,000 $2,700,000 $8,500 $35,000 $70,000 $16,000 $25,000 $350,000 $24,000 $75,000 $12,500 PLUG $40,000 $27,600 $10,250 $232,000 $100,000 $10,000 $1,500,000 55,000 $30,000 Assignment: Using the above list, assemble the three statements for the fiscal year 2014