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The James Island Clothing Company began operations on July 1, 2018. NOTE: This means all beginning balances for the period were zero!) The adjusted trial balance as of December 31, 2018 appears below, along with transaction data for 2018 THE JAMES ISLAND CLOTHING COMPANY Worksheet 12/31/18 Account Title Adjusted Trial Balance Credit Debit $ 95,700 12,000 4,400 26,000 18,000 Cash Accounts Receivable nventory Office Equipment Truck Accumulated Depreciation-Plant Assets Accounts Payable Note Payable-Short Term Note Payable-Long Term Common Stock, $10 par, 100,000 shares authorized, 10,000 shares issued & outstanding Retained Earnings Dividends Sales Revenue Cost of Goods Sold Rent Expense Advertising Expense Depreciation Expense $6,000 5,500 10,000 33,000 100,000 1,000 15,000 3,600 2,000 800 6,000 $ 169,500 169,500 Transaction Data for 2018 (Note, these transactions were included in the trial balance numbers above.) Cash paid for purchase of office equipment Cash paid for purchase of truck Acquisition of Property, Plant, and Equipment with Notes Payable-Long Cash payment of dividends Cash receipt from issuance of common stock $6,000 5,000 33,000 1,000 100,000 Requirements: (See sheet tabs at bottom. Use each sheet for the following requirements.) Use Excel Skills in completing these requirements. You must use formulas and functions, cell references, and professional formatting 1. Prepare the James Island Clothing Company multi-step income statement for the six months ended December 31, 2018. Include the EPS at the bottom. Also include a vertical analysis column at the right and perform a vertical analysis of the income statement. (Use percentage format with 1 decimal place.) 2. Prepare the James Island Clothing Company balance sheet for the six months ended December 31, 2018. Include a vertical analysis column at the right and perform a vertical analysis of the balance sheet. (Use the percentage format with 1 decimal place.) 3. Prepare the James Island Clothing Company statement of cash flows for the six months ended December 31, 2018. Use the indirect method. 4. Complete the analysis of the financial statements as directed on the Analysis sheet

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