Can you please solve 6,7&8

4. Prepare a multiple-step income statement on the proper worksheet. Your Income Statement should be in good form (proper titles, etc., use examples from your book) and well formatted. Do your best designating between selling and administrative expenses. You should use formulas in all cells, not constant numbers. (That means, your income statement should be linked to the adjusted numbers on your worksheet.)

5. Prepare a Comprehensive Income Statement on the proper worksheet. Accounting Creations uses the Second Income Statement Approach. You should use formulas in all cells, not constant numbers.

6. Prepare a Statement of Changes in Stockholders Equity. You should use formulas in all cells, not constant numbers.

7. Prepare a Classified Balance Sheet on the proper worksheet as of 12/31/18. Your Statement should be formatted. You should use formulas in all cells, not constant numbers.

8. Prepare closing entries on the proper tab. You may close directly to Retained Earnings

Accounting Creations Incorporated
End of Period Worksheet
For the Year Ended December 31, 2018
	Unadjusted				Adjusted
Account Title	Trial Balance		Adjustments		Trial Balance
	DR	CR	DR	CR	DR	CR
Cash	330,000	-		65,000	265,000
Accounts Receivable	694,980	-			694,980
Allowance for Doubtful Accounts	-	17,000		11,500		28,500
Interest Receivable	-	-
Merchandise Inventory	425,000	-	22,500	12,500	435,000
Prepaid Insurance	-	-	3,000		3,000
LIFO Reserve	-	32,000		22,500		54,500
Prepaid Advertising	-	-	8,000		8,000
Prepaid Rent	17,000	-		14,167	2,833
Office Supplies	6,000	-		35,385		29,385
Note Receivable	25,000		125		25,125
Available for Sale Securities	375,000	-	84,385		459,385
Office Building	3,750,000	-		350,000	3,400,000
Accumulated Depreciation - Office Building	-	87,500				87,500
Storage Building	1,275,000	-		23,833	1,251,167
Accumulated Depreciation - Storage Building	-	-	23,833			23,833
Land	750,000	-			750,000
Leasehold Improvements	225,000	-	3,515		228,515
Accumulated Depreciation - Leasehold Improvements	-	-		469		469
Office Equipment	325,000	-			325,000
Accumulated Depreciation - Office Equipment	-	65,000		52,000		117,000
Patent	150,000	-		25,000	125,000
Accounts Payable	-	345,000	12,000			333,000
Sales Tax Payable	-	-		343,137		343,137
Salaries Payable	-	142,000				142,000
Payroll Taxes Payable	-	25,000				25,000
Interest Payable	-	-
Income Tax Payable	-	-
Unearned Rent Revenue	-	-		15,000		15,000
Loan Payable - Onstar Bank	-	650,000		26,000		676,000
Loan Payable - Coldstar Bank	-	2,000,000		61,000		2,061,000
Common Stock	-	650,000				650,000
Additional Paid in Capital	-	1,998,750				1,998,750
Retained Earnings	-	920,000				920,000
Accumulated Other Comprehensive Income	-	25,000				25,000
Dividends	84,750	-			84,750
Sales	-	4,528,200	351,637			4,165,927
Sales Returns and Allowances	42,250	-			42,250
Sales Discounts	19,250	-			19,250
Cost of Goods Sold	1,979,500	-	12,500		1,992,000
Sales Salaries Expense	436,400	-			436,400
Office Salaries Expense	274,000	-			274,000
Advertising Expense	16,000	-		8,000	8,000
Depreciation Expense - Office Building	-
Depreciation Expense - Leasehold Improvements	-	-	469		469
Depreciation Expense - Office Equipment	-	-	52,000		52,000
Leasing Expense - Stores	132,000	-			132,000
Miscellaneous Selling Expense	23,000	-		19,515		3,485
Research & Development Expense	15,000		65,000		80,000
Rent Expense - Storage Facility	-	-	14,167		14,167
Insurance Expense	15,000	-		3,000	12,000
Office Supplies Expense	35,000	-	35,385		70,385
Miscellaneous Administrative Expense	9,170	-	350,000		359,170
Rent Revenue	-	75,000	15,000			60,000
Interest Revenue on Note Receivable	-	-		125		125
Dividend Revenue on AFS Securities	-	25,000		48,385		23,385
Interest Expense	-	-	71,000		71,000
Bad Debt Expense	35,000	-	3,000		32,000
Amortization Expense	-	-	25,000		25,000
Income Tax Expense	-	-		16000		16,000
Payroll Taxes Expense	121,150	-			121,150
	11,585,450	11,585,450	1,152,516	1,152,516	11,798,996	11,798,996