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The ledger of AISExperts Inc. showed the following balances after adjustment, but before closing, on December 31, 2020, the end of the current year: Accounts

The ledger of AISExperts Inc. showed the following balances after adjustment, but before closing, on December 31, 2020, the end of the current year:

Accounts payable

82000

Accounts receivable

100580

Accumulated depreciation equipment

36540

Depreciation expense

10000

Marketable securities

11250

Interest revenue

1100

Cash

78470

Finished goods inventory

73500

Available-for-sale securities

6000

Common stock (10,000 shares outstanding)

100000

Prepaid rent

14500

Cost of goods sold

625650

Dividends declared

32000

Insurance expense

2200

Lease obligation

5200

Equipment

114450

General expenses

110250

Interest expense

5800

Raw materials inventory

51000

Rent expense

2000

Prepaid insurance

11325

Retained earnings

?

Dividend revenue

10250

Work-in-process inventory

52200

Leased equipment

6000

Salaries payable

26700

Sales

987500

Selling expenses

136210

The president of AISExperts Inc., has asked you to develop a flexible financial statement package (call the file yournameFinState20), using Excel that includes:

  • a data entry sheet
  • an adjusted trial balance,
  • a single-step income statement,
  • a multi-step income statement,
  • a statement of retained earnings,
  • a classified balance sheet, and
  • a post-close trial balance

You can ignore taxes in this project.

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