CASE 1: Background Information Hillsburgh Hardware Company is a medium-sized corporation, with its headquarters located in Detroit, Michigan. The company is made up of three divisions. In the attached excel file, the adjusted trial balance for Hillsburgh Hardware as of December 31, 2019, is listed. Based upon the adjusted trial balance provided here, generate the Multiple-Step Income Statment, Statement of Retained Earnings, and Balance Sheet for the year ended December 31, 2019. Notes: 1. The given retained earning account in the trial balance only represents the beginning balance of the year. 2. Create your Statement in the separate tab of the excel file, and upload the completed work to the submission dropbox.

(PLEASE REFER BELOW EXCEL IMAGES AND TABS ARE BLANK BUT NEED TO BE FILLED)

B D 1 W N Hillsburg Hardware Company Adjusted Trial Balance 12/31/2019 4 5 Debit Credit $ 827,568 20,196,800 $ 1,240,000 945,020 29,864,621 431,558 3,456,420 32,500,000 3,758,347 2,546,421 31,920,126 4,719,989 Accounts Names 6 Cash in bank 7 Trade accounts Receivable 8 Allowance for uncollectible accounts 9 Other accounts receivable 10 Inventories 11 Prepaid expenses 12 Land 13 Buildings 14 Computer and other equipment 15 Furniture and fixtures 16 Accumulated depreciation 17 Trade accounts payable 18 Note payable 19 Accrued payroll 20 Accured payroll tax 21 Accrued interest 22 Dividends payable 23 Accrued Income tax 24 Long-term notes payable 25 Deferred Tax 26 Other accured payable 27 Capital stock 28 Capital in excess of par value 29 Retained earnings 30 Sales 4,179,620 1,349,800 119,663 149,560 1,900,000 795,442 24,120,000 738,240 829,989 5,000,000 3,500,000 11,929,075 144,327,789 B D D E 1,241,663 103,240,768 7,738,900 1,422,100 1,110,347 2,611,263 321,620 924,480 681,041 5,523,960 682,315 561,680 860,260 762,568 31 Sales returns and allownances 32 Cost of goods sold 33 Salaries and commissions 34 Sales payroll taxes 35 Travel and entertainment-selling 36 Advertising 37 Sales and promotional expense 38 Sales meetings and training 39 Miscellaneous sales expense 40 Executive and office Salaries 41 Administrative payroll taxes 42 Travel and entertainment-Administrative 43 Computer maintenance and supplies 44 Stationary and supplies 45 Postage 46 Telecommunications 47 Rent 48 Legal fees and retainers 49 Auditing and related services 50 Depreciation 51 Bad debt expense 52 Insurance 53 Office repairs and maintenance 54 Miscellaneous office expense 55 Miscellaneous general expense 56 Gain on sale of assets 57 Income taxes 58 Interest expense 59 Dividends 244,420 722,315 312,140 383,060 302,840 1,452,080 3,323,084 722,684 843,926 643,680 323,842 719,740 1,746,600 2,408,642 1,900,000 237,539,033 $ 60 $ 237,539,033 6.1 TB-12-31-2019 Stmt of Operations Stmt of RE Balance Sheet + Ready