You have been hired by Number Company as a staff accountant. Your first assignment is to produce financial statements for Alphabetical Company. You must produce the income statement, statement of owners' equity and balance sheet for both years, and a statement of cash flows for only 20x2. Use the indirect method in the body of the statement of cash flows and disclose the direct method separtately. Additionally, please refer to the rubric attached to this assignment for additional grading components and information required in submission. Please note that the company 1. Issued stock in 20X2, but did not in 20X1. 2. Paid its 20X1 tax liability in full in 20X2. Tax rate Deferred tax payable- Depreciation at Dec. 31, 20x0 26,400 Estimated tax payment made Tax depreciation Unreallized gain on short-term investment Unrealized gain on long-term investment 3,700 37,400 3,900 5,700 20x2 Accounts payable 155,050 33,800 126,100 175,600 2,500 51,900 119,900 206,900 Accounts receivable Accumulated depreciation Additional paid-in capital Amortization expense 223,278 35,500 153,800 184,400 Common stock ($1 par value) Cost of goods sold Deferred taxes payable-Depreciation Deferred taxes payable-Long-term investment Deferred taxes payable-Short-term investment Depreciation expense Dividends declared Dividends payable Equipment Insurance expense Interest expense Interest income Interest payable Interest receivable Inventory Long-term investment at cost Marketing expense Marketing payable Note receivable Notes payable 125,900 217,800 26,300 27,700 554,400665,300 57,600 12,300 11,700 21,700 20,700 54,700 2,100 2,200 99,300 43,700 85,200 89,700 17,400 414,700 389,818 291,600 274,100 23,400 21,300 22,400 16,600 Prepaid insurance Retained earnings- beginning Salaries payable Salary expense Sales Short-term investment- at cost Tax expense Taxes payable Utilities expense Utilities payable 239,800 21,600 109,500 608,500 38,800 22,700 115,300 640,500 38,800 73,100 11,000 10,500 76,900 You have been hired by Number Company as a staff accountant. Your first assignment is to produce financial statements for Alphabetical Company. You must produce the income statement, statement of owners' equity and balance sheet for both years, and a statement of cash flows for only 20x2. Use the indirect method in the body of the statement of cash flows and disclose the direct method separtately. Additionally, please refer to the rubric attached to this assignment for additional grading components and information required in submission. Please note that the company 1. Issued stock in 20X2, but did not in 20X1. 2. Paid its 20X1 tax liability in full in 20X2. Tax rate Deferred tax payable- Depreciation at Dec. 31, 20x0 26,400 Estimated tax payment made Tax depreciation Unreallized gain on short-term investment Unrealized gain on long-term investment 3,700 37,400 3,900 5,700 20x2 Accounts payable 155,050 33,800 126,100 175,600 2,500 51,900 119,900 206,900 Accounts receivable Accumulated depreciation Additional paid-in capital Amortization expense 223,278 35,500 153,800 184,400 Common stock ($1 par value) Cost of goods sold Deferred taxes payable-Depreciation Deferred taxes payable-Long-term investment Deferred taxes payable-Short-term investment Depreciation expense Dividends declared Dividends payable Equipment Insurance expense Interest expense Interest income Interest payable Interest receivable Inventory Long-term investment at cost Marketing expense Marketing payable Note receivable Notes payable 125,900 217,800 26,300 27,700 554,400665,300 57,600 12,300 11,700 21,700 20,700 54,700 2,100 2,200 99,300 43,700 85,200 89,700 17,400 414,700 389,818 291,600 274,100 23,400 21,300 22,400 16,600 Prepaid insurance Retained earnings- beginning Salaries payable Salary expense Sales Short-term investment- at cost Tax expense Taxes payable Utilities expense Utilities payable 239,800 21,600 109,500 608,500 38,800 22,700 115,300 640,500 38,800 73,100 11,000 10,500 76,900