KELLEY ENTERPRISES Crede Debih $ 73 5 200 $ 363 $ 792 $ 170 $ 4.767 $ 375 5 $ S 143 710 99 5 30 5 182 2019 Trial Balance Account Title Cash and cash equivalents Short term investments Are rewah Merchandise leventories Prepaid expenses and other current assets Property and Equipment Acumulated depreciation Long term investments Goodwill Intangible assets Accumulated artists of angle toets Other assets Short-term notes payable Accounts payable Accrued payroll, bons and other benefits due team members Dividends payable Other current abilities Long term notes payable Other long term biti Common Stock Treasury Stock Retained carings (beginning of year Olvident Sales Cost of Goods Sold Selle tenere ind administrative expenses Interest experie Investment and other income Income tax espante Debit Credit $ 164 $ 155 $ 218 5 500 $ 307 S 1,163 $ 200 $ $ 710 $ 90 $ 20 $ 182 $ 3 5 295 $ $ 45 $ 473 $ 62 $ 658 $ 2.900 $ 1.152 $ 1521 $ 45 $ 15389 $ 92973 $ 4488 5 62 5 12 S 342 572021 S 2202 2020 Til Balance Account The Cash and cath equivalents Short term westments Accounts receivable Merchandise inventories Prepaid expenses and other current assets Property and Equipment Accumulated depreciation long-term investments Goodwill Intangible assets Acumulated amortization of intang ble assets Omer sets Short-term notes payable Accounts payable Accrued payrol, bonus and other benefits due team members Dividends payable Other current abilities Long term notes playable Other long term liabilities Common Stock Trwy boch Retained earnings Dividends Sales Cost of Goods Sold Seiling general and administrative expenses Interest expense Investment and other income Income taxe 473 487 527 $ 65 1,30 3,1 1234 $ 2017 S 45 536,354 5 10415 $ 4.632 5 EB $ 75 5 401 25.019 20.919 Additional information The company purchased new equipment for $1,404, but there were no disposals of property/equipment The company purchased $125 in new investments induting both short and long term and sold ovestments during the ye The company made payments of shots payable, and increantes payable of The company made no payments on its long term abilities. Any change in this account reflects new long-term abilities incurred The company sold stock during the year, and there were no additional transactions affecting the common stock account The company purchased treasury stack during the war, and there were no additional actions affecting the tremur stock count The company paid dividends of $45 in 2020, Assignment instructions are as follows: 1. Use the information in the provided trial balance to create the following financial statements: a. 2020 Income Statement b. 2020 Balance Sheet c. 2020 Cash Flow Statement 2. Create ONE Excel Workbook with the following tabs: a. Tab 1: Trial Balance for 2019 and 2020 provided b. Tab 2: Closing Entries for 2019 Income Statement c. Tab 3: 2020 Income Statement d. Tab 4: Closing entries for 2020 e. Tab S: 2020 Balance Sheet post-closing entries (Use the 2019 Retained Earnings balance as your beginning 2019 balance) f. Tab 6: 2020 Cash Flow Statement 3. Formulas: a. Use Excel to setup the financial statements by linking the values from the trial balance. b. Use Excel formulas to calculate all totals and sub-totals
