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Rainbow Corporation 8,000 15,500 2,500 24,500 4,500 3,300 5,000 20,200 1 Cash 2 Accounts Receivable 3 Supplies 4 Office Equipment 5 Accumulated Depreciation 6 Accounts
Rainbow Corporation 8,000 15,500 2,500 24,500 4,500 3,300 5,000 20,200 1 Cash 2 Accounts Receivable 3 Supplies 4 Office Equipment 5 Accumulated Depreciation 6 Accounts Payable 7 Salaries Payable 8 Capital Stock 9 Retained Earnings 10 Dividends 11 Fees Eamed 12 Salary Expense 13 Supplies Expense 14 Depreclation Expense 15 Miscellaneous Expense 16 17 Net income 18 2.000 51,750 30,750 1,500 84.750 84.750 Assignment: From the above information, prepare the Income Statement, Statement of Retained Earnings and the Balance Sheet. All work must be done in EXCEL. Regarding the data, above, ignore the label, "Net Income". Also, ignore the presentation of the numbers in two columns. Pretend that the numbers are in one column, the same as the textbook problems. The data for the computer project was missing 3 key numbers. Here are those 3 numbers: Supplies Expense $1,500 Depreciation Exp $ 4,500 Salary Payable $ 17,500 Also, the date of the financial statements is: December 31, 2021
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