Using the trial balance on the provided excel workbook for your company Almost Done Corporation, calculate and present all 4 of the required financial statements: 1.Balance sheet showing 2011 and 2012 balances, 2. Income statement for 2012, 3. Statement of Stockholders Equity for 2012, 4. the Statement of Cash Flows for 2012. ADC uses a calendar year end.Additional information you might need is as follows.1. You sold some fixed assets on January 1 for a gain of $80,000. The original basis of the assets sold was $4,500,000 and the accumulated depreciation was $1,125,000.2. During 2011, you acquired a stake in one of your suppliers by investing $1 million in cash in their common stock. This investment gives you 20% of the company and two seats on their board of directors. The investment in Never Finished Corporation was made right at the end of 2011 and during 2012, NFC earned an after tax profit of $800,000. They also distributed a dividend to you of $40,000 in cash and $60,000 of additional stock.3. You purchased additional fixed assets on June 30 for $750,000 using money you borrowed from the bank.4. On December 31, 2012, you paid off $2,250,000 of your outstanding bank loans and made sure there was no interest payable balance at the end of the year.5. You paid dividends to the shareholders during 2012 of $1,000,000.6. To raise some additional funds, you sold common stock during the year. You sold 500,000 additional shares at an average price of $10 per share. You paid your attorneys and accountants a total of $800,000 for offering assistance.7. You made income tax payments during the year and your effective tax rate is 40%.8. You bought some more fixed assets on December 31, 2012 in exchange for a note payable to the seller of the fixed assets for a total purchase price of $2 million.

DR (CR) DECEMBER 31, 2011 (4,000,000) 3.000.000 (1.250,000) (3.750.000) (120,000) 4,000,000 (13,000,000) (500,000) ALMOST DONE CORPORATION TRIAL BALANCE FY 11 AND FY 12 DR (CR) DECEMBER 31 2012 ACCOUNTS PAYABLE (none related to inventory (5.500.000) ACCOUNTS RECEIVABLE 5.000.000 ACCRUED LIABILITIES (1.500.000) ACCUMULATED AMORTIZATION ACCUMULATED DEPRECIATION (4.437.500) ALLOWANCE FOR DOUBTFUL ACCOUNTS (200,000) AMORTIZATION EXPENSE BAD DEBT EXPENSE 80.000 CASH 13.155.000 COMMON STOCK (17.200.000) COST OF GOODS SOLD 36.000.000 DEFERRED INCOME TAX LIABILITY (500.000) DEPRECIATION EXPENSE 1.812,500 EQUITY INVESTMENT INCOME (160.000) FIXED ASSETS 13.250.000 GAIN ON SALE OF ASSETS (80.000) GENERAL EXPENSES 2.000.000 INCOME FROM RENTAL PROPERTY (100.000) INCOME TAX EXPENSE 2.123.000 INCOME TAXES PAYABLE (123.000) INSURANCE EXPENSE 1.000.000 INTANGIBLES 12.000.000 INTEREST EXPENSE 1.140.000 INTEREST PAYABLE INVENTORY 6.000.000 INVESTMENT IN NSC 1.120.000 LONG-TERM PORTION OF NOTES PAYABLE (12.500.000) OTHER ASSETS 350.000 PREPAIDS 600.000 RETAINED EARNINGS (3.480.000) SALES (50.000.000) SELLING EXPENSE 3.000.000 SHORT TERM PORTION OF NOTES PAYABLE 2.250.000) WAGES PAYABLE (600.000) BALANCING CHECK FIGURE 15.000.000 (800,000) 12,000,000 7.000.000 1.000.000 (12,000,000) 250,000 400.000 (4.480,000) (2.250.000) (500,000) DR (CR) DECEMBER 31, 2011 (4,000,000) 3.000.000 (1.250,000) (3.750.000) (120,000) 4,000,000 (13,000,000) (500,000) ALMOST DONE CORPORATION TRIAL BALANCE FY 11 AND FY 12 DR (CR) DECEMBER 31 2012 ACCOUNTS PAYABLE (none related to inventory (5.500.000) ACCOUNTS RECEIVABLE 5.000.000 ACCRUED LIABILITIES (1.500.000) ACCUMULATED AMORTIZATION ACCUMULATED DEPRECIATION (4.437.500) ALLOWANCE FOR DOUBTFUL ACCOUNTS (200,000) AMORTIZATION EXPENSE BAD DEBT EXPENSE 80.000 CASH 13.155.000 COMMON STOCK (17.200.000) COST OF GOODS SOLD 36.000.000 DEFERRED INCOME TAX LIABILITY (500.000) DEPRECIATION EXPENSE 1.812,500 EQUITY INVESTMENT INCOME (160.000) FIXED ASSETS 13.250.000 GAIN ON SALE OF ASSETS (80.000) GENERAL EXPENSES 2.000.000 INCOME FROM RENTAL PROPERTY (100.000) INCOME TAX EXPENSE 2.123.000 INCOME TAXES PAYABLE (123.000) INSURANCE EXPENSE 1.000.000 INTANGIBLES 12.000.000 INTEREST EXPENSE 1.140.000 INTEREST PAYABLE INVENTORY 6.000.000 INVESTMENT IN NSC 1.120.000 LONG-TERM PORTION OF NOTES PAYABLE (12.500.000) OTHER ASSETS 350.000 PREPAIDS 600.000 RETAINED EARNINGS (3.480.000) SALES (50.000.000) SELLING EXPENSE 3.000.000 SHORT TERM PORTION OF NOTES PAYABLE 2.250.000) WAGES PAYABLE (600.000) BALANCING CHECK FIGURE 15.000.000 (800,000) 12,000,000 7.000.000 1.000.000 (12,000,000) 250,000 400.000 (4.480,000) (2.250.000) (500,000)