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Assignment Requirements:

1. Prepare the 2020 financial statements using Excel, which includes:
   1. Income Statement (multi-step)
   2. Statement of Stockholders Equity (NOT just Retained Earnings)
   3. Balance Sheet (classified; also show both the 2020 and 2019 numbers)
   4. Statement of Cash Flow

These statements should be in proper form, including formatting. See the Financial Statement Formatting document in the Assignments tab of Blackboard for details on formatting expectations.

Make sure to see the PowerPoint notes on Cash Flows in the Ch. 5 folder in Blackboard!

2. Data Analytics - Create the following Charts:
   1. Pie Chart in Excel: Expenses, excluding any related to Discontinued Operations
   2. Chart (your choice on type whichever you think works the best!) showing the Revenue and Income from Continuing Operations, including:
      1. 2020 info calculated in Requirement 1 above
      2. Previous years as follows
      3. Insert a Trendline. If future Revenue and Net Income amounts are in line with the trendline for the past 5 years, what do you predict Revenue and Net Income will be for 2021?

Year	Revenue	Income from Continuing Operations
2016	$864,000	$55,000
2017	$901,500	$70,000
2018	$973,000	$79,000
2019	$1,035,000	$84,500

Accounts Payable Accounts Receivable Accrued Liabilities Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Additional Paid in Capital Allowance for Doubtful Accounts Buildings Cash Common Stock, $1 Par Cost of Goods Sold Depreciation Expense Dividend Income Dividends Equipment Gain from Discontinued Operation, net of tax Gain on Sale of Equipment Goodwill Closing Trial Balance 70,500 90,000 154,500 45,000 16,500 243,000 3,000 180,000 123,000 27,000 135,000 Adjusted Trial Balance 68,500 104,000 196,000 51,000 18,000 256,500 4,500 220,500 148,500 28,500 585,000 19,500 1,500 45,000 148,000 87,500 3,000 60,000 25,000 12,000 12,500 4,000 133,000 24,000 45,000 15,000 135,000 10,000 93,500 66,000 1,184,000 31,500 372,000 60,000 Income Taxes 135,000 45,000 Insurance Expense Interest Expense Interest Income Inventory Investment in ABC Stock Land Loss from Discontinued Operation, net of tax Notes Payable (due in 4 years) Prepaid Rent Rent Expense Retained Earnings Sales Revenue Treasury Stock Wages Expense 150,000 7,500 66,000 Accounts Payable Accounts Receivable Accrued Liabilities Accumulated Depreciation - Buildings Accumulated Depreciation - Equipment Additional Paid in Capital Allowance for Doubtful Accounts Buildings Cash Common Stock, $1 Par Cost of Goods Sold Depreciation Expense Dividend Income Dividends Equipment Gain from Discontinued Operation, net of tax Gain on Sale of Equipment Goodwill Closing Trial Balance 70,500 90,000 154,500 45,000 16,500 243,000 3,000 180,000 123,000 27,000 135,000 Adjusted Trial Balance 68,500 104,000 196,000 51,000 18,000 256,500 4,500 220,500 148,500 28,500 585,000 19,500 1,500 45,000 148,000 87,500 3,000 60,000 25,000 12,000 12,500 4,000 133,000 24,000 45,000 15,000 135,000 10,000 93,500 66,000 1,184,000 31,500 372,000 60,000 Income Taxes 135,000 45,000 Insurance Expense Interest Expense Interest Income Inventory Investment in ABC Stock Land Loss from Discontinued Operation, net of tax Notes Payable (due in 4 years) Prepaid Rent Rent Expense Retained Earnings Sales Revenue Treasury Stock Wages Expense 150,000 7,500 66,000

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