I need help with this assignment. Income Statement, Statement of Stalk Holder Equity, Balance Sheet, Closing Entries, and Post closing trial Balance

Good morning!

I wanted to give you some check figures that you can use for your final project financial statements. This way you will know if you are on the right track or not.

Income Statement:

Cost of Goods sold comes from the Inventory Valuation sheet (sales column total).

Gross Profit: $60,063.40

Net Income: $32,124.07

Statement of Retained Earnings:

There is no beginning balance

Ending Balance: $52,124.07

Balance Sheet:

Current Assets: $64,962.40

Long Term Assets: $4,791.67

Current Liabilities: $7,630.00

Long term Liabilities: $10,000

Total Equity: $52,124.07

Closing Entries:

Your debits and credits should each equal $98,317.93

Post Close Trial Balance

Your debits and credits should each equal $69,754.07