Section 4: Financial Stmts for Earthshine, Inc. a) Given the CSV trial balance shown on the worksheet, use Text to Columns to break out the data in Column A into Columns C, D, and E of the Accounting Worksheet. b) Complete the accounting worksheet using Columns F and G to record cost of goods sold and adjust inventory. A physical count of inventory taken at 12/31/2112 was $8,000. c) After you complete the worksheet through Column I, prepare a properly formatted income statement, statement of retained earnings, and balance sheet. The statements are for a single year only, i.e., not comparative. d) Prepare your income statement starting in cell K1, your statement of retained earnings under your income statement, and your balance sheet starting in Cell N1. Present statements using one only column for your numbers. e) You must show a calculation of net sales, either in the income statement or in a separate schedule. f) You must show calculation of cost goods sold (CGS). You may show the calculation as part of the income statement or in a separate schedule that supports your CGS figure. g) The note receivable matures in 2115, unearned revenue will be earned in 2113, the loan payable is due in 2113, and the mortgage payable is due in 2120. h) Miscellaneous income, interest expense and miscellaneous expense are nonoperating items and should be presented below operating income. i) Follow the formatting and presentation guidelines presented in the video lectures. j) Be sure you present your work neatly and using proper formatting to avoid losing points for this section. Cash Short-Term Investments Accounts Receivable Allowance for Doubtful Accounts Prepaid Insurance Inventory Equipment Equipment A/D Building Building - A/D Account Description Land Note Receivable Accounts Payable Salaries and Wages Payable Payroll Tax Payable Property Tax Payable Unearned Revenue Loan Payable Mortgage Payable Deferred Tax Liability Common Stock Additional Paid-In Capital Retained Earnings Dividends Sales Revenue Sales Discounts Sales Returns and Allowances Miscellaneous Income Purchases Purchases Discounts Purchases Returns and Allowances Freight-In Cost of goods sold Salaries and Wages Expense Payroll Tax Expense Rent Expense Insurance Expense Freight-Out Property Tax Expense Office Supplies Expense Maintenance and Repairs Expense Bad Debt Expense Depreciation Expense Interest Expense Miscellaneous Expense Income Tax Expense Totals Unadjusted Balance Cr Dr 25,000 125.000 75,000 3,500 18,000 17,500 175,000 25,000 7,000 - . 20,000 10,000 7,000 613,000 19,500 591,185 45,800 24,000 9,000 6,750 3,500 2,750 3,750 23.750 7,500 4,050 1,750 36,915 1,901,200 . 5,000 3,500 17,500 32,000 12,000 1,200 3,500 5,000 8,000 135,000 6,000 10,000 40,000 85,000 1,525,000 3,500 7,000 2,000 - . - 1,901,200 JE to and Adjust Inventory Dr Cr Adjusted Balance Dr Cr