I know the limit is supposed to be one question but I feel that he whole thing needs to be done for it to make sense, I would love to see this answer in excel or in some sort of excel format. Thank You!

SMC, Inc. Balance Sheet December 31, 2018 Assets Cash Accounts receivable. Inventory Supplies Total assets... $34,500 25,000 10,000 200 $69.700 Liabilities and Stockholders' Equity $12,000 1,000 3,675 $16,675 Liabilities: Accounts payable... Salaries payable... Income taxes payable............................... Total liabilities Stockholders fequity: Capital stock (10,000 shares outstanding Retained earnings...... Total stockholders' equity.............. Total liabilities and stockholders' equity.... $25,000 28.025 53,025 $69.700 SMC, Inc. Income Statement For the Year Ended December 31, 2018 Sales revenue... $110.000 Rent $111.000 60.000 $ 51,000 $ Total revenues... Less cost of goods sold.... Gross Less operating expenses: Supplies expense. Salaries expense. Miscellaneous Income before taxes. Less income taxes Net income. Earnings per share ($20,825/10,000 shares) 400 22.000 4.100 26.500 $ 24,500 3,675 $20.825 $ 2.08 Debits $34.500 25.000 10,000 200 Accounts Receivable Inventory Supplies Accounts Payable Salaries Payable Income Taxes Payable. Capital Stock Retained Earning Total $12.000 1 000 3.675 25.000 28.025 S69.700 $69.700 You are also given the following information that summarizes the business activity for the current year.2019 L a issued 10.000 additional shares of capital stock for $45.000 cashon January 1st b. Borrowed $20,000 on March 1, 2019.From Downtown Bank as a longterm loan The interest rate on the loanis 5 and interest for the year is payable on January 1, 2020. c. Pald $7.200 cash on April to lease a building forone year. d. Received $4.800 on May 1 from a tenant for one year'srent. e. Paid $2.400 on June 1for a one-year insurance policy 1. Purchased $2,570 of supplies for cash on June 15th. & Purchased inventory for $100,000 on account on July 1. August 1, sold inventory for $165,000 on account cost of the merchandise sold was $92,000. Collected $105.000 cash from customers accounts receivable on August 20h. September 1. Paid $80,000 cash forinventories purchased earlierduring the year. September 20" paid $32,000 for sales reps'salaries, Induding $1.000 owe datthe beginning of 2018 L Dividends for $8,500 were paid on October 20th m. The income taxes payableatthebeginning of 2019 were paid on November 15th. n. For adjusting entries al prepaid expenses are initalyrecorded as assets, and all uneamed revenues are Initially recorded as labilities. At yearend. $600 worth of supplies are on hand p. At year-end, an additional $9.100 of sales salaries are owed, but have not yet been paid Prepare an adjusting entry to recognize the taxes owed for 2019. The corporate tax rate is 15% of the income before income taxes You are asked to do the following on an excel spreadsheet: 1. Journaze the transactionsforthe current year, 2019, using the accounts listed on the financial statements and other appropriate accounts 2. Set up T accounts and enter the beginning balances from the December 31, 2018, post dosing trial balance for SMC Post all current year journal entries to the accounts. 3. Journal and post anycossary adjusting entries at the end of 2019. (Hint tembad.. Panda require austment.) 4. Arter the adjusting entries are posted, prepare an adjusted trial balance, an income statement statement of retained comings and a balance sheet for 2019. The format of your statements should minor those prepared by the company in 2018 5. Joumate and post closing entries for 2019 and prepare a post-closing trial balance 6. Compute the Current radio and Debt to Total Asset Ratio for 2018 and 2019 7. Interpretive Question What is your overal assessment of the financial health of SMC, Inc