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 (see an example at textbook, page 179), Statement of Retained Earnings, and Balance Sheet (see an example at textbook, page 243) for the year ended December 31, 2019. Notes: 1. The given retained earning account in the trial balance represents the beginning balance of the year.

Bad debt expense Insurance Office repairs and maintenance Miscellaneous office expense Miscellaneous general expense Gain on sale of assets Income taxes Interest expense Dividends 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 $ $ 237,539,033 Hillsburg Hardware Company Adjusted Trial Balance 12/31/2019 Credit $ Debit 827,568 20,196,800 $ 1,240,000 Accounts Names Cash in bank Trade accounts Receivable Allowance for uncollectible accounts Other accounts receivable Inventories Prepaid expenses Land Buildings Computer and other equipment Furniture and fixtures Accumulated depreciation Trade accounts payable Note payable Accrued payroll Accured payroll tax Accrued interest Dividends payable Accrued Income tax Long-term notes payable Deferred Tax 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 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 Other accured payable Capital stock Capital in excess of par value Retained earnings Sales Sales returns and allownances Cost of goods sold Salaries and commissions Sales payroll taxes Travel and entertainment-selling Advertising Sales and promotional expense Sales meetings and training Miscellaneous sales expense Executive and office Salaries Administrative payroll taxes Travel and entertainment-Administrativ Computer maintenance and supplies Stationary and supplies Postage Telecommunications Rent Legal fees and retainers Auditing and related services Depreciation Bad debt expense 1,241,663 103,240,768 7,738,900 1,422,100 1,110,347 2,611,263 321,620 924,480 681,041 5,523,960 682,315 561,680 860,260 762,568 244,420 722,315 312,140 383,060 302,840 1,452,080 3,323,084