Attached are the directions of what needs to be done and the information that is need to complete

Now that you have prepared the adjusting and closing entries, Smith Manufacturing, Inc. has asked that you prepare a classified Balance Sheet, a multiple-step Income Statement, and Cash Flow Statement using the indirect method. Use your ending numbers from last week's assignment. The prior-year trial balance was included in a separate tab in the spreadsheet you downloaded last week. You will need these numbers to prepare the Statement of Cash Flows. Prepare your financial statements in Excel. Smith Manufacturing, Inc. Trial Balance December 31, 20XX Cash Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Building Accumulated depreciation-building Equipment Accumulated depreciation-equipment Accounts payable Note payable (due in 10 months, 5%) Salaries payable Interest payable Note payable (due in 5 years, 3%) Common Stock (3,000 shares outstanding) Retained earnings Sales revenue Cost of goods sold Salaries expense Insurance expense Depreciation expense Interest expense Bad debt expense Totals DR 362,750 320,750 CR 15,000 10,000 30,000 50,000 150,000 7,500 500,000 50,000 105,000 125,000 500,000 300,000 171,000 850,000 550,000 150,000 2,123,500 2,123,500 Smith Manufacturing, Inc. Post-Closing Trial Balance December 31, 20XX DR Cash Accounts receivable Allowance for uncollectible accounts Prepaid insurance Inventory Land Building Accumulated depreciation-building Equipment Accumulated depreciation-equipment Accounts payable Note payable Salaries payable Interest payable Note payable (due in 5 years, 3%) Common Stock (3,000 shares outstanding) Retained earnings Sales revenue Cost of goods sold Salaries expense Insurance expense Depreciation expense Interest expense Bad debt expense Totals CR 15,000 225,750 20,000 5,000 80,000 50,000 150,000 7,500 500,000 50,000 55,000 50,000 5,000 17,250 350,000 300,000 171,000 1,025,750 1,025,750 Smith Manufacturing Journal Entries Particulars Debit Bad Debt Expense Allowance for Uncollectible Accounts (Recording of bad debts) $ Insurance Expenses Prepaid Insurance (Recording of Expired Insurance) $ Inventory Cost of Goods Sold (Recording of Inventory for Correct Amount) $ Depreciation- Buildings Accumulated Depreciation-Building (Recording of Depreciation of Buildings) $ Depreciation- Equipment Accumulated Depreciation of Equipment (Recording of Deprciation of Equipment) $ Interest Expense Interest Payable (Recording of Interest Expense Outstanding) $ Salaries Expense Salaries Payable (Recording of Salaries Expense Outstanding) $ Income Summary Cost of Goods Sold Salaries Expense Insurance Expense Deprciation Expense Interest Expense Bad Debt Expense (Transfer of all the Expenses) $ 781,250 Sales Revenue Income Summary (Transfer of the Sales Revenue) $ 850,000 Income Summary Retained Earnings (Transfer of Profits) $ Credit 8,500 $ 8,500 $ 2,000 $ 10,000 $ 7,500 $ 50,000 $ 21,250 $ 2,000 2,000 10,000 7,500 50,000 21,250 2,000 $ 540,000 $ 152,000 $ 2,000 $ 57,500 $ 21,250 $ 8,500 $ 850,000 68,750 $ 68,750