Financial statements

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Use this data in the above Trial Balance to generate the financial statements with the templates below. (balance sheet and Statement of Income). You can consolidate the templates into one spreadsheet (different sheets) and upload in the drobox.

Trial Balance.xlsx

Sheet1

Trial Balance
Debit Credit
Cash and equivalents 325,000
Short Term Investments 165,000
Accounts Receivables 120,000
Notes receivable 55,000
Inventories 85,000
Prepaid expenses 10,000
Long Term Investments 120,000
Property, Plan, and Equipment 950,000
Accumulated Depreciation 80,000
Goodwill 5,000
Accounts Payable 175,000
Accrued Interest 5,000
Current Materities of LT debt 80,000
Accrued salaries and wages 12,500
Income taxes payable 65,000
Bonds payable 450,000
Long-term notes payable 105,000
Deferred income taxes 5,000
Common stock $1 par 400,000
Additional paid-in capital 175,000
Retaied Earnings 100,000
Sales 1,222,750
Sales discounts 135,000
Sales returns and allowances 110,000
Other Revenues
cost of goods sold 545,000
sales salaries and commissions 20,000
travel 32,000
advertising 12,000
office supplies expense 15,000
execuitive salaries 45,000
office staff salaries 19,500
depreciation 8,500
interest expense 36,000
gain on investments 25,000
income tax expense 87,250
2,900,250 2,900,250 - 0

Template 20-

Balance Sheet.xls

Sheet1

Template 20
Balance Sheet (Statement of Financial Position)
See Chapter 22 for a discussion of this topic.
Replace the heading with the name of your company and the years your Balance Sheet covers.
Replace each of the xxx's with your values OR zero, and your Balance Sheet will be calculated automatically.
Pacioli Wholesale Corporation
Statement of Financial Position and Common Size Ratios
As of June 30, 2018 and June 30, 2017
2018 2017 2018 2017
ASSETS LIABILITIES AND STOCKHOLDERS' EQUITY
Current Liabilities
Current Assets Wages Payable XXX XXX
Cash XXX XXX Accounts Payable XXX XXX
Marketable Securities XXX XXX Taxes Payable XXX XXX
Accounts Receivable, Other XXX XXX
Net of Uncollectible Total Current
Accounts XXX XXX Liabilities $0 $0
Inventory XXX XXX Long-Term Liabilities
Other XXX XXX Mortgage Payable XXX XXX
Prepaid Expenses XXX ** Bond Payable XXX XXX
Total Current Assets $0 $0 Deferred Taxes XXX XXX
Other XXX XXX
Fixed Assets Total Long-Term
Buildings and Equipment XXX XXX Liabilities $0 $0
Less Accumulated Stockholders' Equity
Depreciation XXX XXX Common Stock, $X Par XXX XXX
Net Buildings and Com. Stock-Excess
Equipment $0 $0 over par XXX XXX
Land XXX XXX Preferred Stock, X%,
Other XXX XXX $X Par, X shares XXX XXX
Total Fixed Assets $0 $0 Retained Earnings XXX XXX
Total Stockholders' $0 $0
Goodwill XXX XXX Equity
Other XXX XXX TOTAL LIABILITIES
& STOCKHOLDERS'
TOTAL ASSETS $0 $0 EQUITY $0 $0

Sheet2

Sheet3

Template 21 -

Statement of Income and Retained Earnings.xls

Sheet1

Template 21
Income Statement and Analysis of Retained Earnings
See Chapter 22 for a discussion of this topic.
Replace the heading with your company's name and years covered by the Income Statement.
Replace each of the xxx's with your values or zero, and the statement values will be calculated.
Replace the xxx's in Row 10 with the number of shares of common stock
outstanding for your years 2018: xxx 2017: xxx
Pacioli Wholesale Corporation
Income Statement and Analysis of Retained Earnings
For the Years Ending June 30, 2018 and June 30, 2017
2018 2017
Sales xxx xxx
Less Cost of Goods Sold xxx xxx
Gross Profit $0 $0
Operating Expenses
Selling Expenses xxx xxx
Other xxx xxx
General Expenses xxx xxx
Administrative Expenses xxx xxx
Total Operating Expenses 0 0
Operating Income $0 $0
Interest Expense xxx xxx
Income Before Taxes $0 $0
Income Taxes xxx xxx
Net Income $0 $0
Earning Per Share Common $0.00 $0.00
Less Dividends 2018 amd 2017 xxx xxx
Addition to Retained Earnings $0 $0
Retained Earnings July 1, 2017 and 2016 0 xxx
Retained Earnings June 30, 2018 and 2017 $0 $0
Note: Adjust the dates in rows 34 and 35. Row 34 represents balances at the beginning of the year.
Row 35 should be the year-end dates.

Sheet2

Sheet3