Answer the attached file in excel file.

• Journalize the transactions that took place in 2015 in the General Journal;
• Post journal entries from General Journal to the ledger accounts in the General Ledger;
• Prepare a Trial Balance
• Prepare an Income Statement
• Prepare a Statement of Retained Earnings
• Prepare a Balance Sheet
• Prepare a Statement of Cash Flows
• Provide end year closing journal entriesin the General Journal.

The balance of accounts for World Company as of Jan. 1, 2015 is provided Below. Company is subject to 30% income tax rate. Requirements: A) Journalize the following transactions that took place in 2015 in the General Journal; B) Post journal entries from General Journal to the ledger accounts in the General Ledger; C) Prepare a Trial Balance as of Dec. 31, 2015; D) Prepare an Income Statement for year 2015; E) Prepare a Statement of Retained Earnings for year 2015; F) Prepare a Balance Sheet as of Dec. 31, 2015; G) Prepare a Statement of Cash Flows for year 2015; and H) Provide end year closing journal entries for 2015 in the General Journal. Trial Balance As of Jan. 1, 2015 Account Debit Cash 91,400 Accounts Receivable 37,600 Merchandise Inventory 85,600 Supplies Land Buildings 3,000 92,000 200,000 Accumulated DepreciationBuildings Equipment Credit 60,000 83,500 Accumulated DepreciationEquipment 40,500 Accounts Payable 17,500 Notes Payable 54,700 Common Stock 170,000 Retained Earnings 250,400 593,100 593,100 Transactions for 2016. 1. Purchased $30,000 merchandise from Jason Company on account. Sales taxes was 6% which was not included in the price. In addition, Jason Company charged World Company $120 for shipping and handling. 2. On March 1st, borrowed $250,000 from bank by signing a 3% note. Principal and interest will be paid at the maturity of the note after two years. 3. During an internal audit, World Company realized that supplies inventory on hand was understated by $8,000 when year-end physical inventory of supplies was taken at the end of last year to record the adjusting entry for supplies used. Applicable income tax rate for last year was 30%. Provide the necessary journal entry for correcting the error. 4. Purchased $15,000 equipment - paid $5,000 in cash and signed a note for the remaining. 5. World Company paid $150 for buying insurance for the protection of merchandise purchased from Jason during transportation. 6. Purchased $4,000 supplies on account. 7. World Company paid Jason Company in full for the above purchases. 8. Sold $200,000 merchandise plus 8% sales taxes to Polo Company in cash. Cost of merchandise sold was $85,000. 9. World paid for the followings related to the construction of a new shop. a. b. c. d. e. . Purchase of land $40,000 Contractor for construction of the shop building $100,000 Commission fee paid to real estate agency $2,000 Equipment for shop $12,000 Parking lots and driveways $14,000 10. On December 1st, World Co. rented the new shop to Nathon and collected $15,000 for 6 months rent in advance. Provide the journal entry. 11. Collected $3,000 interest from bank. 12. In a \"fire sale,\" land and building obviously worth $30,000 and $120,000, respectively, was acquired at a cost of $118,000. Provide the journal entry. 13. Paid $6,000 for utilities. 14. Paid $65,000 for salaries and wages. 15. Recorded $8,000 depreciation on equipment and $3,000 depreciation on building. 16. Recorded accrued interest expense related to transaction #2 above. 17. Made the necessary adjusting journal entry pertaining to the transaction in #10 above. 18. A physical inventory of supplies revealed that $4,200 supplies are left. 19. Paid $5,000 dividends to the shareholders. 20. Recorded $2,500 accrued income tax expense