Please Note: Financial statements are formal documents, so they must be typed for this assignment. Any hand-written financial statement will receive a score of zero. Also, presentation matters for financial statements. For example, acronyms and abbreviations are not allowed on financial statements. The statements are required to be neat, organized, easy-to-read, and easy-to-follow. The formats presented in class are good ones to follow (but are by no means the only acceptable format). Using the attached Adjusted Trial Balance, prepare Jablonskis Golden Acres financial statements for the end of the year. Complete each on a separate page in the following order: A) Income Statement for 2022 (23 points) B) Statement of Owner Equity for 2022 (17 points) C) Balance Sheet for December 31, 2022 (33 points) It is expected that proper formatting will be used in regard to the document title, headings, sub- totals, etc. Improper formatting will lose points. You are to put together financial statements, not just determine net income or owner equity.

ADJUSTED TRIAL BALANCE Jablonski's Golden Acres For December 31, 2022 Accounts Debits Credits Cash 41,200 Accounts Receivable 6,000 Feeder Livestock Inventory Raised for Sale 61,000 Feeder Livestock Inventory Purchased for Resale 28,000 Feed Inventory Purchased for Use 5,700 Crop Inventory Raised for Sale 11,900 Prepaid Expenses 2,600 Breeding Livestock 81,700 Machinery & Equipment 142,900 Office Furniture and Equipment 14,700 Land, Buildings and Improvements 990,500 Investment in Cooperatives 28,500 Leased Assets 58,000 Accumulated Depreciation 75,600 Accounts Payable 7,700 Taxes Payable 13,200 Interest Payable 4,800 Notes Payable, Non-Current 102,000 Notes Payable, Due within One Year 18,500 Real Estate Notes Payable, Due within One Year 12,900 Real Estate Notes Payable, Non-Current 313,800 Obligation on Leased Assets 38,000 Retained Capital 804,000 Owner Withdrawals 21,400 Non-Farm Income 3,500 Other Capital Contributions/Gifts/Inheritance 44,500 Cash Crop Sales 292,500 Changes in Crop Inventories 13,000 Cash Sales of Market Livestock 174,000 Changes in Market Livestock and Poultry Inventories 17,800 Proceeds from Government Programs 27,500 Gains/Losses from Sale of Culled Breeding Livestock 4,600 Change in Accounts Receivable 2,100 Purchased Feed 42,000 Change in Purchased Feed Inventory 6,700 Wages Expense 114,000 Payroll Tax Expense 18,200 Repairs and Maintenance on Vehicles and Equipment 9,400 Small Tools and Supplies 4,300 Fuel, Oil, Gas, Grease 68,600 Fertilizers 16,900 Electricity 27,500 Veterinarian, Vaccinations, Medications 17,600 Water 52,000 Depreciation Expense 28,700 Change in Accounts Payable 2,100 Change in Prepaid Expenses 7,200 Interest Expense 18,200 Change in Interest Payable 4,300 Gains/Losses on Sales of Farm Capital Assets 7,200 Extraordinary Gains 9,900 Income Tax Expense 32,600 Changes in Taxes Payable 4,500