Required:

Prepare an income statement for the year ended August $31,20$ Y$5.$

Prepare a statement of owner's equity for the year ended August $31,20$Y$5.$ During the year, Effie Jackson invested an

additional $$20,000$ in the business.

Prepare a balance sheet as of August $31,20Y5.$

Based upon the end$-$of$-$period spreadsheet, journalize the closing entries.

Prenare a nost$-$clnsina trial halance. Income Statement

Prepare an income statement for the year ended August $31,20$ Y$5.$

Income Statement Instructions

Light$-$It$-$Up Company

Income Statement

$($Label$)$

$\backslash$table$[[1,($Label$),,],[2,,,],[3,,,],[4,,,],[5,($Label$),,],[6,,,],[7,,,],[8,,,],[9,,,],[10,,,],[11,,,],[12,,,],[13,,,],[14,,,],[15,,,],[16,,,]]$

Assignment Score: $0\mathrm{.}0\%$

All Statement of Owner's Equity

$2.$ Prepare a statement of owner's equity for the year ended August $31,20$Y$5.$ During the year, Effie Jackson invested an additione $$20,000$ in the business.

Statement of Owner's Equity Instructions

Light$-$It$-$Up Company

Statement of Owner's Equity

$($Label$)$

$\backslash$table$[[1,,,,],[2,,,,],[3,,,,],[4,,,,],[5,,,,],[,,,,],[,,,,]]$

Assignment Score: $0\mathrm{.}0\%$

AllPost$-$Closing Trial Balance

$5.$ Prepare a post$-$closing trial balance.

Light$-$It$-$Up Company

POST$-$CLOSING TRIAL BALANCE

August $31,20$ Y $5$

$\backslash$table$[[,$ACCOUNT TITLE,DEBIT,CREDIT$],[1,$Cash,,$],[2,$Accounts Receivable,,$],[3,$Prepaid Insurance,,$],[4,$Supplies,,$],[5,$Land,,$],[6,$Building,,$],[7,$Accumulated Depreciation$-$Building,,$],[8,$Equipment,,$],[9,$Accumulated Depreciation$-$Equipment,,$],[10,$Accounts Payable,,$],[11,$Salaries and Wages Payable,,$],[12,$Unearned Rent,,$],[13,$Effie Jackson, Capital,,$],[14,$Totals,,$]]$Instructions

Light$-$It$-$Up Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Light$-$It$-$Up Comp

prepared the following end$-$of$-$period spreadsheet at August $31,20$Y$5,$ the end of the fiscal year: