Using the Adjusted Trial Balance below, prepare the following for December 31, 2022: Multiple-Step Income Statement, Statement of Shareholder's Equity, Classified Balance Sheet, Statement of Cash Flow (indirect method), Closing Entries, and a Post-Closing Trial Balance. There is a separate MS Excel file for each financial statement found in the folder for Part 3.

Below the Adiusted Trial Balance are the prior year's financial statements. These financial statements, except for the Income Statement, serve to help you prepare the current year's financial statements.

Below the prior year financial statements is an example of a Multiple-step income Statement. This Multiple-Step Income Statement serves as an example to help you prepare the current year's Multiple-Step Income Statement. Please note the following:

Do not include accounts with a $O balance. Accrue Income Taxes at a rate of 20% (round up to nearest dollar). Record the journal entry for income taxes on the journal provided to you. Income Taxes Payable is Account 2300. Income Tax Expense is Account 6270. Accounts Receivable and Accounts Payable must be presented in a consolidated format. Record the closing entries in the Journal below the journal entry for income taxes.

The Multiple-Step Income Statement, Statement of Shareholder's Equity, Classified Balance Sheet, Statement of Cash Flow (indirect method), Closing Entries, and a Post-Closing Trial Balance must be submitted as separate April's Fresh Cleaning Service

April's Fresh Cleaning Service Adjusted Trial Balance December 31, 2022 Account Name Debit (Credit) Cash $31,685 Accounts Receivable $19,800 Merchandise Inventory $6,496 Cleaning Supplies $16,300 Office Supplies $36,000 Prepaid Insurnace $400 Prepaid Rent $1,375 Cleaning Equipment $61,000 Accum Depreciation - Cleaning Equipment ($16,000) Office Equipment $8,000 Accum Depreciation - Office Equipment ($2,800) Accounts Payable $25,000 Wages Payable $3,000 Interest Payable $83 Utilities Payable $450 Notes Payable $12,000 Common Stock $98,000 Retained Earnings $68,675 Dividends $79,800 Cleaning Services Revenue $222,825 Sales $11,500 Sales Returns and Allowances $500 Sales Discounts $94 Cost of Goods Sold $8,260 Advertising Expense $35,500 Bad Debt Expense $5,000 Cleaning Supplies Expense $71,400 Depreciation Expense - Cleaning Equipment $5,750 Depreciation Expense - Office Equipment $2,400 Insurance Expense $1,200 Interest Expense $83 Mileage Expense $985 Office Supplies Expense $9,000 Rent Expense $22,200 Repairs and Maintenance Expense $2,375 Telephone and Internet Expense. $2,100 Utilities Expense $2,300 Wages Expense $29,350 Waste Removal $480 Loss on Sales of Asset $500 Totals $460,333 $460,333

April's Fresh Cleaning Service Statement of Cash Flows For the Year Ended December 31, 2021 Cash flows from operating activities: Net Income $125,725 Adjustments for noncash effects: Depreciation Expense $6,700 Changes in operating assets and liabilities Increase in accounts receivable ($200) Decrease in cleaning supplies $1,250 Decrease in office supplies $3,000 Increase in prepaid insurance ($100) Decrease in prepaid rent $175 Decrease in accounts payable ($6,000) Increase in wages payable $1,000 Decrease in Utilities payable ($125) Increase in income taxes payable $12,000 $17,700 Net cash flows from operating activities $143,425 Cash flows from investing activities Purchase of cleaning equipment ($20,000) Cash flows from financing activities Dividends paid to shareholder ($102,250) Net increase (decrease) in cash $21,175 Cash balance at beginning of year $80,300 Cash balance, December 31 $101,475