1. Create a multi-step Income Statement. Merge and center columns A-C for rows 1-3 and enter the statement heading properly. Then use column A for account titles, Column B for numbers that need to be calculated and Column C for the totals. Double underline net income. Use accounting format for the numbers (no decimal places). Please use formulas where necessary.
2. Journalize the 2 closing entries for the company. You may do this in a separate excel sheet (tab) or on paper.
3. Create a Statement of Retained Earnings. This will be another sheet (tab) in your Excel file. It will only need to be 2 columns wide. Merge and center the top 3 rows and enter the correct heading. Use column A for account titles and column B for calculations. Double underline the ending retained earnings balance. Please use formulas where necessary.
4. Create a classified Balance Sheet. This will be another sheet (tab) in you Excel file. Use the balance sheet I provided in part 1 of this project as a template (only one account must be added). Reminder: Your retained earnings balance has changed from what the trial balance states.

General Journal \begin{tabular}{l|l} \multicolumn{2}{c}{ Cash } \\ \hline 16,950 & 1400 \\ 3,200 & 7500 \\ 10,900 & 500 \\ & 500 \\ & 750 \\ & 5000 \\ & 500 \\ & 1500 \\ & 500 \\ & \end{tabular} \begin{tabular}{l|l} \multicolumn{3}{c}{ Supplies } \\ \hline 1.800 & \\ & \\ 900 & \end{tabular} \begin{tabular}{l|l} \multicolumn{2}{c}{ Equipment } \\ \hline 225,000 & \\ 1,500 & \\ 226,500 & \end{tabular} \begin{tabular}{l|l} \multicolumn{2}{c}{ Accounts Receivable } \\ \hline 4,625 & 3,200 \\ 12,325 & 10,900 \\ 7,715 & \\ & \\ 10,565 & \end{tabular} \begin{tabular}{l|} \hline \multicolumn{3}{c}{ Buildings } \\ \hline 350,000 \\ 350,000 \end{tabular} Acc. depreciation - Equipment \begin{tabular}{l|l} \hline 152,900 \\ 900 \\ \\ 153,800 \end{tabular} Acc. Depreciation - Buildings \begin{tabular}{l|l} \hline 25,000 \\ 3,000 \\ \\ & 28,000 \end{tabular} \begin{tabular}{l|l} \hline Land \\ \hline 150,000 & \\ 150,000 & \end{tabular} Accounts Payable \begin{tabular}{l|l} \hline 7,500 & 15,200 \\ 5,000 & 6,200 \\ & \\ & 8,900 \end{tabular} Bonds Payable 200.000 200.000 Retained Earnings 58,475 \begin{tabular}{l|l} \hline 58,475 \\ & \\ & 58,475 \end{tabular} Unearned Revenue \begin{tabular}{l|l} \hline 1,900 & 4,000 \\ & \\ & 2,100 \end{tabular} Common Stock \begin{tabular}{l|l} \hline 100,000 \\ & \\ 100,000 \end{tabular} Sales Revenue \begin{tabular}{|l} 12,325 \\ 7,715 \\ 1,900 \\ \\ 21,940 \end{tabular} \begin{tabular}{l|l} Wages Payable \\ & 300 \\ 300 \end{tabular} Add. Paid-in-Capital C/S 200.000 200,000 \begin{tabular}{l|l} \multicolumn{2}{c}{ Rent Expense } \\ \hline 1,400 & \\ 1,400 & \end{tabular} \begin{tabular}{l|l} \multicolumn{2}{c}{ Wage Expense } \\ \hline 500 & \\ 500 & \\ 500 & \\ 500 & \\ 300 & \\ & \\ & \end{tabular} \begin{tabular}{l|l} \multicolumn{3}{r}{ Repairs \& Maintenance } \\ \hline 750 & \\ 750 & \end{tabular} \begin{tabular}{l|l} \multicolumn{2}{c}{ Depreciaiton Expense } \\ \hline 3,900 & \\ 3.900 & \end{tabular} \begin{tabular}{l|l} \multicolumn{3}{c}{ Supplies Expense } \\ \hline 900 & \\ 900 & \end{tabular} \begin{tabular}{l|l} \multicolumn{2}{c}{ cocs } \\ \hline 7,600 & \\ 4.250 & \\ & \\ & \\ 11,850 & \end{tabular} \begin{tabular}{l|l} \hline \\ & \\ & \end{tabular} \begin{tabular}{l|l} \hline \hline \\ & \\ & \end{tabular} I Inond:...obad Tw: I D