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 $$25,000$ in the business.

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.