Required:

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

Prepare a statement of stockholders' equity for the year ended August $31,20$Y$5.$ During the year, common stock of $$25,000$ was issued.

Prepare a balance sheet as of August $31,20$ Y $5.$

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

Prepare a post$-$closing trial balance.