Using either Microsoft word or Excel, create the Ronaldo company's income statement, statement of retained earnings, and balance sheet.

The Ronaldo Company, located in Princeton, Indiana, manufactures soccer equipment that is sold worldwide. The date is December 31, 2019, which is the end of the company's fiscal year. As such, the Ronaldo Company is prepared to draft its financial statements. Your job is to create these financial statements using the following information regarding account balances. Accounts Payable Accounts Receivable $ 40,000 Accumulated Depreciation--Equipment 110,000 30,000 Advertising Expense 20,500 Cash 120,000 Common Stock 228,000 Cost of Goods Sold 1,400,000 Freight-Out 3,000 Equipment 162,500 Depreciation Expense 6,000 Dividends 10,000 Gain on Disposal of Plant Assets 2,000 Income Tax Expense 40,400 Insurance Expense 10,000 Interest Expense 1,000 Interest Payable 11,000 Interest Revenue 3,000 Inventory 45,500 Investments in Real Estate 50,000 Land 40,000 Loss from Abandonment of Property 9,000 Notes Payable 50,000 Notes Receivable 22,000 Patents 65,500 Prepaid Insurance 5.000 Rent Expense 36,000 Retained Earnings 20,000 Salaries and Wages Expense 200,500 Sales Discounts 7,000 Sales Revenue 2,000,000 Salaries and Wages Payable 7,000 Sales Returns and Allowances 10,000 Supplies 4,500 Unearned Sales Revenue 3,000 Utility Expense 15,600 Additional data: $10,000 of the Notes Payable is due in 2020 while the remainder is due beyond that year. $2,000 of the Interest Payable is due in 2020 while the remainder is due beyond that year