Create a multi-step Income Statement, Statement of Retained Earnings, and clarified Balance sheet for Financial Manufacturing Inc. for period ended May 31,2014 based on the following adjusted trail balance.

 

Cash Accounts receivable Inventory Prepaid expenses Supplies Land Principles Manufacturing Inc. Adjusted Trial Balance For period ended May 31, 2014 Building Accumulated depreciation - building Machinery Accumulated depreciation - machinery Accounts payable Salaries and wages payable Utilities payable Unearned revenue Bonds payable, long-term Capital stock Retained earnings Sales Cost of merchandise sold Salaries and wages expense Depreciation expense Supplies expense Advertising expense Insurance expense Utilities expense Miscellaneous expense DEBIT $10,000 20,000 5,000 1,000 2,000 50,000 600,000 200,000 410,000 120,000 25,000 10,000 6,000 12,000 8,000 2,000 $1,481,000 CREDIT 60,000 75,000 15,000 10,000 1,000 8,000 30,000 240,000 352,000 690,000 $1,481,000