Page 8 ACCT 201 Case Spring 2022 Pepper Shores, Inc. Adjusted Trial Balance December 31, 2022 $ 43,500 59,000 5,100 18,600 2,500 2,000 100,000 700,000 340,000 400,000 165,000 42,400 20,500 1,200 25,000 230,000 275,000 222,000 Cash Accounts Receivable Allowance for Doubtful Accounts Merchandise Inventory Supplies Prepaid Insurance Land Building Accumulated Depreciation - Building Equipment Accumulated Depreciation - Equipment Accounts Payable Unearned Revenue Salaries Payable Notes Payable, due May 31, 2024 Mortgage Payable due Dec 31, 2025 Common Stock Retained Earnings Dividends Sales Sales Returns & Allowances Sales Discounts Costs of Goods Sold Salaries Expense Depreciation Expense Freight Out Advertising Expense Utilities Expense Supplies Expense Bad Debt Expense Interest Revenue Gain on sale of Equipment Loss on sale of Building Interest Expense 45,000 215,000 4,300 1,700 110,000 30,000 15,000 500 3,300 2,700 1,500 2,000 3,700 2,000 3,500 1.800 Total 2 ACCT 201 Case Spring 2022 Financial Statements Rename the Sheet 2 tab to Income Statement 2. Rename the Sheet 3 tab to Retained Earnings Statement 3. Insert another sheet at the end and rename tab to Balance Sheet 4. Create the correct title for each of the statements and format like the adjusted Trial Balance, 5. Beginning in cell A5 on each sheet, type the appropriate labels for the financial statements. For For the multiple step income statement, use examples from chapter 5 of the textbook stained earnings statement use examples from chapter 1 of the textbook. For the slossified balance sheet use examples from chapter 4 of the textbook. Be sure that on your classified balance sheet, TOTAL ASSETS = TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 6. In order to copy the numbers from the adjusted trial balance to each of the financial statements, click on the cell in which you want the number to appear, then press - Then click the Adjusted Trial Balance sheet tab and click the cell containing the number that you want to transfer to the financial statement and press Enter. This will transfer the number to the financial statement. This should be done for each number on the financial statements, except the totals! That way. if you change a number on the adjusted Trial Balance, the financial statements will automatically be updated. 7. Create formulas when necessary to complete the financial statements. (HINT: Each total and each subtotal should have a formula.) 8. To complete the financial statements, you will need to properly format the worksheets. In some coses you need to format number cells with the comma format. In other cases, it is necessary to format number cells with the currency format. Be sure to indicate subtotals and totals with the correct underlining (single or double). These can be found under the Font tab. 9. Finally, you should save your work and print the financial statements. Remember your file name should be Your Name Section#. Be sure to set the print option to print to one page using the page layout tab. 10. Upload your file as instructed by your instructor using Moodle. Also attach your printed copy to the appropriate page in this case. Be sure to write your name and section # on your printed copy