Use Excel to re-create the financial statements shown on page 184 in your textbook. To earn the points, you must follow these directions exactly in creating your statements. 1. The Income Statement, Statement of Owner's Equity, and Balance Sheet must be created on a separate sheet tab for each, within the same Excel file. Each sheet tab should be named appropriately. 2. Each statement must be formatted attractively with a proper heading, proper justification and alignment of text and numbers, proper number formatting, and proper single and double ruling (underlining or bottom cell borders) to show where calculations are made. 3. All calculations must be shown using Excel formulas. You CANNOT simply type in the subtotals and totals. You must type in the individual account balances, then use formulas to calculate the subtotals and totals. 4. Amounts that are carried over from the Income Statement to the Statement of Owner's Equity and from the Statement of Owner's Equity to the Balance Sheet must be done so with the use of a formula. (Hint: You must use a cell reference that links to the appropriate cell on the appropriate sheet tab.)

LO 4.1: Prepare the financial statements including the classified balance sheet

SMART TOUCH LEARNING Adjusted Trial Balance December 31, 2018 Balance Account Title Cash Accounts Receivable Office Supplies Prepaid Rent Land Building Accumulated Depreciation-Building Furniture Accumulated Depreciation-Furniture Accounts Payable Utilities Payable Salaries Payable Interest Payable Unearned Revenue Notes Payable Bright, Capital Bright, Withdrawals Service Revenue Rent Expense Salaries Expense Supplies Expense Utilities Expense Depreciation Expense-Building Depreciation Expense-Furniture Interest Expense Total Debit Credit $ 12,200 1,800 100 2,000 20,000 60,000 S 250 18,000 3. Balance Sheet Accounts 300 200 100 1,200 100 400 60,000 48,000 2. Statement of Owner's Equity Accounts 5,000 17,500 3,000 4,800 400 100 250 300 100 S128,050 1. Income Statement Accounts 128,050