Phase #1

Using Be Prepared, Inc.s adjusted trial balance and prior periods balance sheet (see pages 5 and 6 of this document), prepare the following Financial Reports in good form using Microsoft Excel:

Multi-Step Income Statement for the month of January 2019 (see page 210 in your textbook for guidance).

Statement of Retained Earnings for the month of January 2019 (see page 562 in your textbook for guidance). Note: There are no prior period adjustments and all dividends declared are cash dividends in the amount of $31,060.

Adjusted Trial Balance January 31,2019 Account ID Account Description Credits 687 .490.00? $ 1001 Cash 1021 Accounts Receivable 022 Allowance for Doubtful Acc 1027Interest Receivable 1031 Notes Receivable 051 Merchandise Invento 23,000.00 460.00 60.00 10,000.00 5,190.00 10,000.00 300.00 2,800.00 1111 Office Supplies 1125 Prepaid Insurance 400,000.00 90,000.00 125,000.00 1412 Accum Dep: Buildinsg 1431 Office Equipment 1432 Accum Dep: Office Equipm 1451 Store Equipment 1452 Accum Depr: Store Equipm 1501Patents 2001 Accounts Payable 2005 Income Taxes Pavable 2031Interest Payable 2101 Notes Payable long term 2301Bonds Payable 2303Discount on Bonds Payable 3001 Preferred Stock 3011 Common Stock 3101 Paid in Capital In Excess of par: Prefer 3111 Paid in Capital In Excess of par: Com 3121 Paid in Capital Treasury Stock 3300 Retained Earnings 3351 Treasury Stock 4001 Sales Revenue 4002 Sales Discount 4003Sales Returns & Allowances 4101Interest Revenue 00 Cost of Goods Sold 5010 Insurance Expense - General 5012Repairs Expense: Office 5015 Depreciation Expense: Building - General 5020 Depreciation Exp: Office Eq 5025 Supplies Expense - Selling 5027 Utilities Expense: Office 5030 Office Salaries Expense 5035Office Payroll Tax Expense 6005 Depreciation Exp: Store Eq 6010 Amortization Expense: Pat - General 6015 Sales Salaries Expense 6020 Sales Payroll Tax Expense 6022 Utilities Expense: Store 6025Delivery Expense - General 6030 Repairs Expense: Store 6040 Bad Debts Expense - Sellin 7001 Interest Expense 45,750.00 17,500.00 15,800.00 25,000.00 4,778.00 200,000.00 800,000.00 23,900.00 400,000.00 105,000.00 15,000.00 166,250.00 72,000.00 53,940.00 72,000.00 139,000.00 800.00 3,000.00 60.00 200.00 750.00 1,200.00 15,000.00 800.00 700.00 10,000.00 800.00 1,100.00 1,000.00 800.00 460.00 2,068,038.00 $ 2,068,038.00