With reference to the Trial balance sheet can you build the income statement and balance sheet based on the rubrics for each? Thanks (I've added pictures of the Journal entries at the bottom in case you need them) (OPENING BALANCES ADDED AT END)

Opening Balance Sheet Credit Debit 388,000,000 255,000,000 Adjusted Trial Balance 388,000,000 255,000,000 255,000,000 5,500,000 16,500,000 175,000,000 255,000,000 5,500,000 16,500,000 175,000,000 20,500,000 20,500,000 (32,500,000) 32,500,000 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Supplies Pre-Paid Expense Property Plant and Equipment Accumulated Depreciation Patent Accounts Payable Unearned Revenue Salaries and Wages Payable FICA Withholding Payable Federal Income Tax Payable State Income Tax Payable Payable Bond Payable Premium/Discount Common Stock Additional Paid In Capital Treasury Stock Retained Earnings Revenue Cost of Goods Sold Rent Expense Salaries and Wages Expense Payroll Tax Expense Depreciation Expense Amortization Expense (Patent) Bad Debt Expense Supplies Expense Interest Expense Totals (2,000,000) 30,000,000 195,000,000 2,000,000 (30,000,000) (195,000,000) 2,500,000 2,500,000 134,500,000 1,375,000 134,500,000 1,375,000 1,154,250 625,000 85,417 12,375,000 2,000,000 425,000 1,270,539,667 1,154,250 625,000 85,417 12,375,000 2,000,000 425,000 1,080,039,667 190,500,000 Mason Automation Multiple Step Income Statement-Fiscal Month End 1/31/20 Sales revenue Unearned revenue Total Revenue (Enter Account Description) (Enter Account Description) Gross Profit Operating Expenses (Selling and Administrative) (Enter Account Description) (Enter Account Description) (Enter Account Description (Enter Account Description) (Enter Account Description (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) Total Operating Expenses Net Income Fill this number in IAssets Current Assets (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) Total (Enter Balance Sheet Classification) Mason Automation Balance Sheet-Month End 1/31/20 Liabilities and Stockholders Equity Current Liabilities (Enter Account Description) (Enter Account Description (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) Total (Enter Balance Sheet Classification) Property Plant and Equipment (Enter Account Description) (Enter Account Description) Total (Enter Balance Sheet Classification) Long Term Liabilities (Enter Account Description) (Enter Account Description) (Enter Account Description) Total (Enter Balance Sheet Classification) Intangible Assets (Enter Account Description) Total (Enter Balance Sheet Classification) Total Liabilities Total Assets Stockholder's Equity (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) Total (Enter Balance Sheet Classification) Total Liabilities and Stockholders Equity Check Figure Mason Automotive Journal entries No Reload this page ccount Entry #1 1-Jan Cash Common Stock Additional Paid in Capital Debit $ 225,000,000 Credit Calculation =15,000,000*15 $ 30,000,000 =15,000,000*2 $ 195,000,000 Entry #2 1-Jan No entry as employee just started work Entry #3 $ 65,000,000 1-Jan Cash Unearned Revenue $ 65,000,000 Entry #4 =200,000,000*98% 1-Jan Cash Premium/Discount Bond Payable $ 98,000,000 $ 2,000,000 $ 100,000,000 Entry #5 $ 255,000,000 2-Jan Inventory Cash Accounts Payable $ 85,000,000 $ 170,000,000 Entry #6 $ 225,000,000 $ 225,000,000 2-Jan Accounts Receivable Revenue Cost of goods sold Inventory $ 115,000,000 $ 115,000,000 Entry #7 $ 5,500,000 2-Jan Supplies Accounts Payable $ 5,500,000 Entry #8 3-Jan Prepaid Rent Expenses Cash $ 16,500,000 $ 16,500,000 Entry #9 $ 20,500,000 3-Jan Patent Cash $ 20,500,000 Entry #10 $ 175,000,000 4-Jan Property, Plant and Equipment Cash Accounts Payable $ 50,000,000 $ 125,000,000 $ 2,500,000 =100,000*25 Entry #11 20-Jan Treasury Stock Cash $ 2,500,000 $ 425,000 Adjusting entries Entry #12 31-Jan Interest expense Premium/Discount Cash $ $ 8,333 2000000/20 years*1/12 416,667 100000000*5%*1/12 $ 1,375,000 16500000/12 months Entry #13 31-Jan Rent expense Prepaid Rent Expenses $ 1,375,000 $ 2,000,000 5500000-3500000 Entry #14 31-Jan Supplies expense Supplies $ 2,000,000 Entry #15 31-Jan Unearned Revenue Revenue $ 32,500,000 65000000/6000*3000 cars $ 32,500,000 Entry #16 31-Jan Cost of goods sold Inventory $ 19,500,000 =3,000 cars *$6,500 $ 19,500,000 $ 12,375,000 225000000*5.5% Entry #17 31-Jan Bad debts expense Allowance for doubtful accounts $ 12,375,000 $ 625,000 (175000000-25000000)/20 years*1/12 Entry #18 31-Jan Depreciation expense Accumulated Depreciation $ 625,000 $ 85,417 Entry #19 31-Jan Amortization expense (Patent) Patent 20500000/20 years*1/12 $ 85,417 $ 3,345,750 4500000-1154250 Entry #20 31-Jan Salaries and wages expense Salaries and Wages Payable $ 3,345,750 $ 1,154,250 Entry #21 31-Jan Payroll tax expense Federal Income Tax Payable State Income Tax Payable FICA Withholding Payable $ $ $ 540,000 4500000*12% 270,000 4500000*6% 344,250 4500000*7.65% Journal Entry #1 Mason Automotive sells 15,000,000 shares at $2 par for $15 on January 1st, 2020. Journal Entry #2 Ed Mason, the CEO, hires 3,500 employees, whom will receive a combined salary of $4.5 Million on a monthly basis. The employees started on January 1st and will be paid for the month of January on February 4th. Employee's withholdings are as follows: 12% for federal income taxes 6% for state income taxes and 7.65% for FICA. Record the necessary entry as of January 1st, 2020. Journal Entry #3 On January 1st, Mason Automotive receives $65 Million advance payment from a customer, Highland Inc., to manufacture 6,000 cars. Journal Entry #4 Mason Automotive issues a bond payable on January 1st, 2020 with a face value of $100 Million at 98 The bond will have a useful life of 20 years with an interest payment of 5% (Annual Percentage Rate) due at the end of the month. Record the necessary journal entry as of January 1st, 2020. (Note: When considering the amortization of the discount or premium, assume the straight line method is used). Journal Entry #5 Mason Automotive purchased $255 Million dollars worth of inventory on January 2nd, 2020. $85 Million was paid with cash with the remaining balance on account. Mason notes that it will use a perpetual inventory system to track inventory. Journal Entry #6 On January 2nd, Mason Automotive shipped an order to Panther Paws Corporation. The shipping terms were FOB shipping point. The sales value of the order was $225 Million and the inventory cost was $115 Million. Assume that this sale was made on account. Journal Entry #7 Mason Automotive purchased $5.5 Million dollars worth of supplies on account on January 2nd, 2020. Journal Entry #8 Mason Automotive pre-pays for Rent Expense for the next year of $16.5 Million on January 3rd, 2020. Journal Entry #9 Mason Automotive buys a patent from Apple for $20.5 Million on January 3rd, 2020. The patent has a legal life of 25 years and useful life of 20 years. Record the necessary entry as of January 3rd, 2020. Assume the patent was purchased using cash. Journal Entry #10 Mason Automotive purchases fixed assets of $175 Million that will have a useful life of 20 years and a salvage value of $25 million on January 4th, 2020. $50 million was paid with cash with the remaining balance on account. These assets are depreciated using the straight-line method. Journal Entry #11 On January 20th, Mason Automotive decides to purchase 100,000 shares of Treasury stock at $25 per share. Opening Balance Sheet Credit Debit 388,000,000 255,000,000 Adjusted Trial Balance 388,000,000 255,000,000 255,000,000 5,500,000 16,500,000 175,000,000 255,000,000 5,500,000 16,500,000 175,000,000 20,500,000 20,500,000 (32,500,000) 32,500,000 Cash Accounts Receivable Allowance for Doubtful Accounts Inventory Supplies Pre-Paid Expense Property Plant and Equipment Accumulated Depreciation Patent Accounts Payable Unearned Revenue Salaries and Wages Payable FICA Withholding Payable Federal Income Tax Payable State Income Tax Payable Payable Bond Payable Premium/Discount Common Stock Additional Paid In Capital Treasury Stock Retained Earnings Revenue Cost of Goods Sold Rent Expense Salaries and Wages Expense Payroll Tax Expense Depreciation Expense Amortization Expense (Patent) Bad Debt Expense Supplies Expense Interest Expense Totals (2,000,000) 30,000,000 195,000,000 2,000,000 (30,000,000) (195,000,000) 2,500,000 2,500,000 134,500,000 1,375,000 134,500,000 1,375,000 1,154,250 625,000 85,417 12,375,000 2,000,000 425,000 1,270,539,667 1,154,250 625,000 85,417 12,375,000 2,000,000 425,000 1,080,039,667 190,500,000 Mason Automation Multiple Step Income Statement-Fiscal Month End 1/31/20 Sales revenue Unearned revenue Total Revenue (Enter Account Description) (Enter Account Description) Gross Profit Operating Expenses (Selling and Administrative) (Enter Account Description) (Enter Account Description) (Enter Account Description (Enter Account Description) (Enter Account Description (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) Total Operating Expenses Net Income Fill this number in IAssets Current Assets (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) Total (Enter Balance Sheet Classification) Mason Automation Balance Sheet-Month End 1/31/20 Liabilities and Stockholders Equity Current Liabilities (Enter Account Description) (Enter Account Description (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) Total (Enter Balance Sheet Classification) Property Plant and Equipment (Enter Account Description) (Enter Account Description) Total (Enter Balance Sheet Classification) Long Term Liabilities (Enter Account Description) (Enter Account Description) (Enter Account Description) Total (Enter Balance Sheet Classification) Intangible Assets (Enter Account Description) Total (Enter Balance Sheet Classification) Total Liabilities Total Assets Stockholder's Equity (Enter Account Description) (Enter Account Description) (Enter Account Description) (Enter Account Description) Total (Enter Balance Sheet Classification) Total Liabilities and Stockholders Equity Check Figure Mason Automotive Journal entries No Reload this page ccount Entry #1 1-Jan Cash Common Stock Additional Paid in Capital Debit $ 225,000,000 Credit Calculation =15,000,000*15 $ 30,000,000 =15,000,000*2 $ 195,000,000 Entry #2 1-Jan No entry as employee just started work Entry #3 $ 65,000,000 1-Jan Cash Unearned Revenue $ 65,000,000 Entry #4 =200,000,000*98% 1-Jan Cash Premium/Discount Bond Payable $ 98,000,000 $ 2,000,000 $ 100,000,000 Entry #5 $ 255,000,000 2-Jan Inventory Cash Accounts Payable $ 85,000,000 $ 170,000,000 Entry #6 $ 225,000,000 $ 225,000,000 2-Jan Accounts Receivable Revenue Cost of goods sold Inventory $ 115,000,000 $ 115,000,000 Entry #7 $ 5,500,000 2-Jan Supplies Accounts Payable $ 5,500,000 Entry #8 3-Jan Prepaid Rent Expenses Cash $ 16,500,000 $ 16,500,000 Entry #9 $ 20,500,000 3-Jan Patent Cash $ 20,500,000 Entry #10 $ 175,000,000 4-Jan Property, Plant and Equipment Cash Accounts Payable $ 50,000,000 $ 125,000,000 $ 2,500,000 =100,000*25 Entry #11 20-Jan Treasury Stock Cash $ 2,500,000 $ 425,000 Adjusting entries Entry #12 31-Jan Interest expense Premium/Discount Cash $ $ 8,333 2000000/20 years*1/12 416,667 100000000*5%*1/12 $ 1,375,000 16500000/12 months Entry #13 31-Jan Rent expense Prepaid Rent Expenses $ 1,375,000 $ 2,000,000 5500000-3500000 Entry #14 31-Jan Supplies expense Supplies $ 2,000,000 Entry #15 31-Jan Unearned Revenue Revenue $ 32,500,000 65000000/6000*3000 cars $ 32,500,000 Entry #16 31-Jan Cost of goods sold Inventory $ 19,500,000 =3,000 cars *$6,500 $ 19,500,000 $ 12,375,000 225000000*5.5% Entry #17 31-Jan Bad debts expense Allowance for doubtful accounts $ 12,375,000 $ 625,000 (175000000-25000000)/20 years*1/12 Entry #18 31-Jan Depreciation expense Accumulated Depreciation $ 625,000 $ 85,417 Entry #19 31-Jan Amortization expense (Patent) Patent 20500000/20 years*1/12 $ 85,417 $ 3,345,750 4500000-1154250 Entry #20 31-Jan Salaries and wages expense Salaries and Wages Payable $ 3,345,750 $ 1,154,250 Entry #21 31-Jan Payroll tax expense Federal Income Tax Payable State Income Tax Payable FICA Withholding Payable $ $ $ 540,000 4500000*12% 270,000 4500000*6% 344,250 4500000*7.65% Journal Entry #1 Mason Automotive sells 15,000,000 shares at $2 par for $15 on January 1st, 2020. Journal Entry #2 Ed Mason, the CEO, hires 3,500 employees, whom will receive a combined salary of $4.5 Million on a monthly basis. The employees started on January 1st and will be paid for the month of January on February 4th. Employee's withholdings are as follows: 12% for federal income taxes 6% for state income taxes and 7.65% for FICA. Record the necessary entry as of January 1st, 2020. Journal Entry #3 On January 1st, Mason Automotive receives $65 Million advance payment from a customer, Highland Inc., to manufacture 6,000 cars. Journal Entry #4 Mason Automotive issues a bond payable on January 1st, 2020 with a face value of $100 Million at 98 The bond will have a useful life of 20 years with an interest payment of 5% (Annual Percentage Rate) due at the end of the month. Record the necessary journal entry as of January 1st, 2020. (Note: When considering the amortization of the discount or premium, assume the straight line method is used). Journal Entry #5 Mason Automotive purchased $255 Million dollars worth of inventory on January 2nd, 2020. $85 Million was paid with cash with the remaining balance on account. Mason notes that it will use a perpetual inventory system to track inventory. Journal Entry #6 On January 2nd, Mason Automotive shipped an order to Panther Paws Corporation. The shipping terms were FOB shipping point. The sales value of the order was $225 Million and the inventory cost was $115 Million. Assume that this sale was made on account. Journal Entry #7 Mason Automotive purchased $5.5 Million dollars worth of supplies on account on January 2nd, 2020. Journal Entry #8 Mason Automotive pre-pays for Rent Expense for the next year of $16.5 Million on January 3rd, 2020. Journal Entry #9 Mason Automotive buys a patent from Apple for $20.5 Million on January 3rd, 2020. The patent has a legal life of 25 years and useful life of 20 years. Record the necessary entry as of January 3rd, 2020. Assume the patent was purchased using cash. Journal Entry #10 Mason Automotive purchases fixed assets of $175 Million that will have a useful life of 20 years and a salvage value of $25 million on January 4th, 2020. $50 million was paid with cash with the remaining balance on account. These assets are depreciated using the straight-line method. Journal Entry #11 On January 20th, Mason Automotive decides to purchase 100,000 shares of Treasury stock at $25 per share