Instructor Inc.
Adjusted Trial Balance
For the Fiscal Year Ended December 31, 2021
Cash	$ 28,250
Accounts Recivable	$ 75,000
Inventory	$ 220,000
Prepaid Expenses	$ 9,000
Plant Assets	$ 600,000
Accumulated Depreciation-Plant Assets		$ 150,000
Accounts Payable		$ 123,000
Salary and Wages Payable		$ 47,250
Interest Payable		$ 27,000
Bonds Payable		$ 70,000
Common Stock $10 Par		$ 370,000
Retained Earnings		$ 15,000
Sales Revenue		$ 1,255,250
Cost of Goods Sold	$ 722,000
Salaries and Wage Expense	$ 252,100
Interest Expense	$ 75,000
Deprciation Expense	$ 25,000
Insurance Expense	$ 8,150
Income Tax Expense	$ 43,000
Totals	$ 2,057,500	$ 2,057,500
Other information
1. All sales were made on account
2. All merchandise was purchased on account, comprising the total accounts payable account
3. Plant assets costing $98,000 were purchased by paying $28,000 in Cash and issuing 7,000 Shares of Stock
4. Income taxes were paid during the year
5. 2,000 Shares of common stock were issued
6. Cash dividends of 105,000 were declared and paid by the end of the year
Prepare the following reports using the templates provided
Income Statement
Balance Sheet
Statement of Cash Flow (Indirect Method)
ProForma Balance Sheet using the Precent of Sales Method
Instructor Inc
Multi-Step Income Statement
For the Year Ended December 31, 2021
Instructor Inc.
Classified Balance Sheet
For the Year Ended December 31, 2021
Assets
Current Assets					2021		2020
Cash							$ 20,000
Accounts Receivable							$ 58,000
Inventory							$250,000
Prepaid Expense							$ 7,000
Total Current Assets								$ 335,000
Long-Term Assets
Plant Assets							$502,000
Accumulated Depreciation-Plant Assets							$125,000
Net Plant Assets								$ 377,000
Total Assets								$ 712,000
Liabilities and Stockholders' Equity
Liabilities
Current Liabilities
Accounts Payable							$115,000
Salaries and Wages Payable							$ 72,000
Interest Payable							$ 25,000
Total Current Liabilities								$ 212,000
Long Term Liabilities
Bonds Payable								$ 100,000
Total Liabilities								$ 312,000
Stockholder's Equity
Common Stock							$280,000
Retained Earnings							$120,000
Total Stockholders Equity								$ 400,000
Total Liabilites and Stockholders Equity								$ 712,000
							Indirect
	Instructor Inc
	Statement of Cash Flows
	For the Year Ended December 31, 2021
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Instructor Inc
Proforma Income Statement
For the Year Ended December 31, 2022
	2021	Proforma 2022
Sales Revenue
Cost of Good Sold
Gross Profit
Expenses
Salaries and Wage Expense
Depreciation Expense
Insurance Expense
Total Expenses
Operating Income (EBIT)
Other income or Expenses
Interest Expense
Earnings Before Taxes (EBT)
Income Tax Expense
Net income (EAT)