1. Prepare an income statement (including earnings per share), and statement of stockholders' equity for year ended December 31, 2018 For the balance sheet, prepare a 2 year comparative for 2017 and 2018. Proper format must be used. Points will be taken off for areas such as formatting lines, $ and numbers formatted, spelling etc Ask if you are unsure or use the book for reference. In addition, linking should be used and at a minimum must be used for the Financial Statements and the adjusted trial balance from #4 above.
2. Journalize and post the closing entry.
3. Prepare a post-closing trial balance.
4. Review the balance sheet and income statement. Identify 2 reasons why the business has been more successful in 2018. Include a few sentences in the excel document for this area. I would recommend reviewing Retained Earnings in 2017 and 2018. In addition, where did the increase in cash come from (identify at least 3 sources)? Are liabilities significantly higher? What does this mean to the company?

Credit Debit $25,000 6,000 10,000 88,000 $17,450 6,500 14,000 2,500 Account Titles Cash Accounts Receivable Supplies Land Building Equipment Accumulated Depreciation Intangibles Accounts Payable Wages Payable Unearned Revenue Interest Payable Income Taxes Payable Long-term Notes Payable Common Stock (4,000 shares, $1.00 par value) Additional Paid in Capital Retained Earnings Service Revenue Depreciation expense Supplies expense Wages expenses Interest expense Income Tax expense 4,000 80,000 17,550 T totals $135,500 $135,500