Need guidance for filling in the highlighted sections.

arizonastateu-my.sharepoint.com 3 0 + SideHustleLinks ~ Efax M (35,542) - 9.. Customer Int.. M (91,361) - gr.. M (4,122) - gro... Module 1: C... TAM511 - O... S Mira Microbr... WhatsApp Product Mar. HB Global Acco... HB Harvard Bus... HB Harvard Bus... c Chegg Search 511 - Arizona. Excel Mira Microbrewery Template_Upload for Students - Saved Search (Option + Q) GR File Home Insert Draw Page Layout Formulas Data Review View Automate Hell Comments \\ Catch up Editing Share Calibri V 12 B I M Av . Merge v Custom Conditional Formatting v Styles v Z Format As Table ~ Format v Ev ATV Ov . . . X fx B C D E G H I J K L M N O P Q R S T U V W X Y AA AB AC AD AE AF AG AH AI receivabl nventory Accounts Expenses Statemen Inventory Materials Inventory Expenses Earnings Accounts PPE, net Finished Retained Goods Intangibl Payable Accrued Capital Process Prepaid Work in Income Cash Bank debt Date Transaction Jan. 1 Issue shares 200,000 50,000 250,000 Jan. 12 Legal fees (7,000) (7,000) Startup costs Jun. 1 Purchase barrels (5,000) 5,000 Jun. 9 Purchase materials (20,000 20,000 Jun. 30 Purchase equipment (75,000) 75,000 Aug. 1 Pay advt in advance Oct. 1 Purchase furniture (8,000 8,000 Dec. 1 Loar 15,000 15,000 Dec. 31 Purchase materials Dec. 31 Mfg costs (34,000) 34,000 Dec. 31 SG&A costs (23,000) (23,000) SG&A Dec. 31 Depn barrel Dec. 31 Depn equipt 15 Dec. 31 Depn furn. (500 (500) SG&A 16 Dec. 31 Materials on hand Dec. 31 WIP completed 18 Dec. 31 Cost of sales 19 Dec. 31 Sales 20 Dec. 31 Dec. 31 Dec. 31 43,000 20,000 34,000 87,500 50,000 15,000 250,000 (30,500) Dec. 31 Close I/S 43,000 20,000 34,000 87,500 50,000 15,000 250,000 (30,500) 26 Period Life Annual Depn. & amort (mths) (years) charge 2019 Furnishings 2,000 500 Barrels Equipment 10 ntangibles 5 10,000 5,000 5,500 = Ledger Financial Statements +Davis decided to take advantage of her friend's offer of help and provided Smith with the following information on the events that occurred from January 1, 2019 to June 30, 2019: 1. 2. 3. January 1, 2919: 3,999 shares issued for $25 each. 2,999 shares issued for a five-year license of the recipe, which would begin on July 1, 2019. January 12, 2019: Paid $1099 cash for legal fees to incorporate the business. June 1, 2019: Purchased Bourbon barrels to be used in production, which was scheduled to start on July 1, for $5,999. June 9, 2019: Purchased 5,099 pounds of ingredients (hops, barley, malt, and yeast) for $20,099. June 30, 2019: Paid $5,099 for brewing equipment (including delivery and installation of fermenter, mixing tank, pumps, etc.) Over the next six months, Davis had ramped up operations and brewed, aged, and sold several batches. She provided Smith with the following information on events that occurred from July 1, 2019 to December 31, 2919: 6. 19. 11. 12. Purchased an additional 10,099 pounds of ingredients from the supplier for $50,999, $5,099 of which was unpaid at year-end. August 1, 2019: Paid $13,999 cash for a six-month web advertisement campaign, targeted to beer and Bourbon drinkers. October 1, 2019: Purchased office furniture for $3,990 cash. December 1, 2019: Borrowed $15,999 on a line of credit at an annual interest rate of 3%. No interest had been paid for the month of December. Expended $34,099 for direct manufacturing labor and on manufacturing-related overhead (rent, utilities, supervisory labor). The company spent another $23,099 on general and administrative costs. 25% (or 3,?50 pounds) of the ingredients were remaining. However, all of the beer had been sold and there was no beer in-process. Sold $145,999 of beer to regional bottlers, with $15,999 stilluncollected. She anticipated the brewing equipment would last for 1{1| years and the office furniture for four years, at which point they would be worthless. The Bourbon barrels were expected to last for two years and would then be discarded. The recipe had been very popular, and a rival brewery offered her $?5,{}{}{l for a five-year license. However, Davis had no intention to sell the license. Churchill Downs had placed a firm order for $5,{}{}{l of beer for the 20211) Kentucky Derby in l'vIay. Although she had not taken a salary, Davis knew that she could have earned around $T5,{}{}{} ata competitor microbrewer during the year. She planned to transition to full-time CEO at the company beginning January 243243. However, because it was cash constrained, several investors had suggested she take compensation in the form of stock instead of cash. Mira was unsure about how she should think about these two options