Nike Inc.'s Trial Balance as of December 31, 2023:

Account Title	Debit ($)	Credit ($)
Cash	90,000
Accounts Receivable	70,000
Inventory	110,000
Equipment	180,000
Accumulated Depreciation		35,000
Accounts Payable		65,000
Notes Payable		85,000
Common Stock		140,000
Retained Earnings		95,000
Sales Revenue		270,000
Salaries Expense	60,000
Rent Expense	45,000
Utilities Expense	25,000
Insurance Expense	35,000
Dividends	40,000

Requirements:

1. Prepare the adjusted trial balance for Nike Inc.
2. Prepare the income statement for the year ended December 31, 2023.
3. Prepare the statement of retained earnings for the year ended December 31, 2023.
4. Prepare the balance sheet as of December 31, 2023.
5. Identify any discrepancies and explain how they should be rectified.