hello, im currently stuck on this homework question. any help would be greatly apreshiated.

Please Note: Financial statements are formal documents, so they must be typed for this assignment. Any hand-written financial statement will receive a score of zero. Also, presentation matters for financial statements. For example, acronyms and abbreviations are not allowed on financial statements. The statements are required to be neat, organized, easy-to-read, and easy-to-follow. The formats presented in class are good ones to follow (but are by no means the only acceptable format). Using the attached Adjusted Trial Balance, prepare Jablonskis Golden Acres financial statements for the end of the year. Complete each statement on its own page in the following order: A) Income Statement for 2021 (23 points) B) Statement of Owner Equity for 2021 (17 points) C) Balance Sheet for December 31, 2021 (33 points) D) Cash Flow Statement for 2021 (22 points) It is expected that proper formatting will be used in regard to the document title, headings, sub- totals, etc. Improper formatting will lose points. You are to put together financial statements, not just determine net income or owner equity.

ADJUSTED TRIAL BALANCE Jablonski's Golden Acres For December 31, 2021 Accounts Debits Credits Cash 27,500 Accounts Receivable 4,700 Feeder Livestock Inventory Raised for Sale 62,000 Feed Inventory Purchased for Use 8,900 Crop Inventory Raised for Sale 11,100 Prepaid Expenses 2,400 Breeding Livestock 65,000 Machinery & Equipment 135,000 Office Furniture and Equipment 11,300 Land, Buildings and Improvements 976,800 Investment in Cooperatives 21,000 Accumulated Depreciation 78,000 Accounts Payable 2,800 Taxes Payable 8,500 Interest Payable 3,100 Notes Payable Noncurrent 92,400 Notes Payable Due within One Year 12,500 Real Estate Notes Payable Noncurrent 13,800 Real Estate Notes Payable Due within One Year 262,400 Retained Capital 758,800 Owner Withdrawals 18,000 Non-Farm Income 3,800 Other Capital Contributions/Gifts/Inheritance 64,600 Cash Crop Sales 146,000 Changes in Crop Inventories 15,800 Cash Sales of Market Livestock 138,000 Changes in Market Livestock Inventories 18,100 Proceeds from Government Programs 35,700 Change in Accounts Receivable 400 Purchased Feed 31,300 Change in Purchased Feed Inventory 3,300 Wages Expense 48,000 Payroll Tax Expense 12,000 Repairs and Maintenance Expense 9,800 Small Tools and Supplies 3,500 Fuel, Oil, Gas, Grease 47,600 Fertilizers 10,500 Electricity 25,300 Veterinarian, Vaccinations, Medications 12,600 Water 36,400 Depreciation Expense 24,200 Change in Accounts Payable 1,800 Change in Prepaid Expenses 2,000 Interest Expense 17,200 Change in Interest Payable 1,400 Gains/Losses on Sales of Farm Capital Assets 3,100 Extraordinary Gains 7,000 Income Tax Expense 11,800 Changes in Taxes Payable 3,600

Jablonski's Golden Acres LEDGER Cash Account Date Description Debits Credits Balance Beginning Balance 8,000 2-Jan Cash sale of market livestock 34,500 42,500 15-Jan Paid employee 8,000 34,500 21-Jan Income tax payment 2,400 32,100 4-Feb Loan payment-principal 1,500 30,600 4-Feb Loan payment-interest 500 30,100 18-Feb Purchased new computer 700 29,400 7-Mar Cash crop sale 33,000 62,400 15-Apr Paid taxes 15,000 47,400 28-Apr Purchased truck 28,700 18,700 1-May Borrowed money to buy land 72,000 90,700 5-May Purchased land 76,500 14,200 6-Jun Purchased supplies 1,800 12,400 30-Jun Purchased seed 3,600 8,800 3-Jul Purchased chemicals 7,900 900 25-Jul Cash sale of market livestock 38,000 38,900 9-Aug Paid property taxes 7,800 31,100 23-Aug Loan payment-principal 12,000 19,100 23-Aug Loan payment-interest 1,200 17,900 9-Sep Sold some breeding livestock 4,800 22,700 10-Oct Received crop insurance proceeds 18,000 40,700 18-Oct Paid vet bill 1,400 39,300 11-Nov Transfer to personal checking account 4,600 34,700 24-Nov Paid neighbor for hauling 1,500 33,200 12-Dec Paid payroll taxes 4,800 28,400 24-Dec Purchased new insurance policy 900 27,500 NOTE: The entries recorded here do not necessarily correspond with the information in the Adjusted Trial Balance. This is a completely separate exercise.

RUBRIC

Income Statement (23 points) minimum if setup right is 9 5 points for correct Net Income 3 points for heading 3 points for formatting 12 points for correct subtotals 2 for Gross Revenues 2 for Total Operating Expenses 2 for Net Farm Income from Operations 2 for Net Farm Income 2 for Income Before Taxes 2 for Total Tax Expenses Statement of Owner Equity (17 points) minimum if setup right is 7 5 points for correct EOY Owner Equity 3 points for heading 3 points for formatting 1 point for correct BOY Owner Equity 1 point for Net Income 4 points for correct subtotals 2 for Net Owner Withdrawals 2 for Addition to Retained Capital Balance Sheet (33 points) minimum if setup right is 13 5 points for correct Total Assets 5 points for correct Total Liabilities and Equity 5 points for Balance Sheet being in balance 3 points heading 3 points for formatting 12 points for correct subtotals 2 for Current Assets 2 for Noncurrent Assets 2 for Current Liabilities 2 for Noncurrent Liabilities 2 for Total Liabilities 2 for Total Equity Cash Flow Statement (22 points) minimum if setup right is 9 5 points for correct Cash balance at end of year 5 points for correct Net change in cash from operating, investing, and financing activities 3 points heading 3 points for formatting 6 points for correct subtotals

2 for Net cash provided by operating activities 2 for Net cash provided by investing activities 2 for Net cash provided by financing activities Please note: to get full credit for the various calculations, the math also has to be correct. Putting down the correct value with improper math will result in a loss of points.

Credits Debits 27,500 4,700 62,000 8,900 11,100 2,400 65,000 135,000 11,300 976,800 21,000 78,000 2,800 8,500 3,100 92,400 12,500 13,800 262,400 758,800 18,000 ADJUSTED TRIAL BALANCE Jablonski's Golden Acres For December 31, 2021 Accounts Cash Accounts Receivable Feeder Livestock Inventory Raised for Sale Feed Inventory Purchased for Use Crop Inventory Raised for Sale Prepaid Expenses Breeding Livestock Machinery & Equipment Office Furniture and Equipment Land, Buildings and Improvements Investment in Cooperatives Accumulated Depreciation Accounts Payable Taxes Payable Interest Payable Notes Payable Noncurrent Notes Payable Due within One Year Real Estate Notes Payable Noncurrent Real Estate Notes Payable Due within One Year Retained Capital Owner Withdrawals Non-Farm Income Other Capital Contributions/Gifts/Inheritance Cash Crop Sales Changes in Crop Inventories Cash Sales of Market Livestock Changes in Market Livestock Inventories Proceeds from Government Programs Change in Accounts Receivable Purchased Feed Change in Purchased Feed Inventory Wages Expense Payroll Tax Expense Repairs and Maintenance Expense Small Tools and Supplies Fuel, Oil, Gas, Grease Fertilizers Electricity Veterinarian, Vaccinations, Medications Water Depreciation Expense Change in Accounts Payable Change in Prepaid Expenses Interest Expense Change in Interest Payable Gains/Losses on Sales of Farm Capital Assets Extraordinary Gains Income Tax Expense Changes in Taxes Payable 3,800 64,600 146,000 15,800 138,000 18,100 35,700 400 31,300 3,300 48,000 12,000 9,800 3,500 47,600 10,500 25,300 12,600 36,400 24,200 1,800 2,000 17,200 1,400 3,100 7,000 11,800 3,600 Jablonski's Golden Acres LEDGER Cash Account Debits 34,500 33,000 72,000 Date Description Beginning Balance 2-Jan Cash sale of market livestock 15-Jan Paid employee 21-Jan Income tax payment 4-Feb Loan payment-principal 4-Feb Loan payment-interest 18-Feb Purchased new computer 7-Mar Cash crop sale 15-Apr Paid taxes 28-Apr Purchased truck 1-May Borrowed money to buy land 5-May Purchased land 6-Jun Purchased supplies 30-Jun Purchased seed 3-Jul Purchased chemicals 25-Jul Cash sale of market livestock 9-Aug Paid property taxes 23-Aug Loan payment-principal 23-Aug Loan payment-interest 9-Sep Sold some breeding livestock 10-Oct Received crop insurance proceeds 18-Oct Paid vet bill 11-Nov Transfer to personal checking account 24-Nov Paid neighbor for hauling 12-Dec Paid payroll taxes 24-Dec Purchased new insurance policy Credits Balance 8,000 42,500 8,000 34,500 2,400 32,100 1,500 30,600 500 30,100 700 29,400 62,400 15,000 47,400 28,700 18,700 90,700 76,500 14,200 1,800 12,400 3,600 8,800 7,900 900 38,900 7,800 31,100 12,000 19,100 1,200 17,900 22,700 40,700 1,400 39,300 4,600 34,700 1,500 33,200 4,800 28,400 900 27,500 38,000 4,800 18,000 Credits Debits 27,500 4,700 62,000 8,900 11,100 2,400 65,000 135,000 11,300 976,800 21,000 78,000 2,800 8,500 3,100 92,400 12,500 13,800 262,400 758,800 18,000 ADJUSTED TRIAL BALANCE Jablonski's Golden Acres For December 31, 2021 Accounts Cash Accounts Receivable Feeder Livestock Inventory Raised for Sale Feed Inventory Purchased for Use Crop Inventory Raised for Sale Prepaid Expenses Breeding Livestock Machinery & Equipment Office Furniture and Equipment Land, Buildings and Improvements Investment in Cooperatives Accumulated Depreciation Accounts Payable Taxes Payable Interest Payable Notes Payable Noncurrent Notes Payable Due within One Year Real Estate Notes Payable Noncurrent Real Estate Notes Payable Due within One Year Retained Capital Owner Withdrawals Non-Farm Income Other Capital Contributions/Gifts/Inheritance Cash Crop Sales Changes in Crop Inventories Cash Sales of Market Livestock Changes in Market Livestock Inventories Proceeds from Government Programs Change in Accounts Receivable Purchased Feed Change in Purchased Feed Inventory Wages Expense Payroll Tax Expense Repairs and Maintenance Expense Small Tools and Supplies Fuel, Oil, Gas, Grease Fertilizers Electricity Veterinarian, Vaccinations, Medications Water Depreciation Expense Change in Accounts Payable Change in Prepaid Expenses Interest Expense Change in Interest Payable Gains/Losses on Sales of Farm Capital Assets Extraordinary Gains Income Tax Expense Changes in Taxes Payable 3,800 64,600 146,000 15,800 138,000 18,100 35,700 400 31,300 3,300 48,000 12,000 9,800 3,500 47,600 10,500 25,300 12,600 36,400 24,200 1,800 2,000 17,200 1,400 3,100 7,000 11,800 3,600 Jablonski's Golden Acres LEDGER Cash Account Debits 34,500 33,000 72,000 Date Description Beginning Balance 2-Jan Cash sale of market livestock 15-Jan Paid employee 21-Jan Income tax payment 4-Feb Loan payment-principal 4-Feb Loan payment-interest 18-Feb Purchased new computer 7-Mar Cash crop sale 15-Apr Paid taxes 28-Apr Purchased truck 1-May Borrowed money to buy land 5-May Purchased land 6-Jun Purchased supplies 30-Jun Purchased seed 3-Jul Purchased chemicals 25-Jul Cash sale of market livestock 9-Aug Paid property taxes 23-Aug Loan payment-principal 23-Aug Loan payment-interest 9-Sep Sold some breeding livestock 10-Oct Received crop insurance proceeds 18-Oct Paid vet bill 11-Nov Transfer to personal checking account 24-Nov Paid neighbor for hauling 12-Dec Paid payroll taxes 24-Dec Purchased new insurance policy Credits Balance 8,000 42,500 8,000 34,500 2,400 32,100 1,500 30,600 500 30,100 700 29,400 62,400 15,000 47,400 28,700 18,700 90,700 76,500 14,200 1,800 12,400 3,600 8,800 7,900 900 38,900 7,800 31,100 12,000 19,100 1,200 17,900 22,700 40,700 1,400 39,300 4,600 34,700 1,500 33,200 4,800 28,400 900 27,500 38,000 4,800 18,000