Comprehensive Project Information: All work must be completed using this excel spreadsheet. For dates$-$use the current year when preparing all financial statements The project is valued at $120$ points. $27$ will come from postings to the T$-$Accounts $($Click on T$-$Accounts at the bottom of this sheet$)$and $15$ will come from correct technical usage of Excel software application i$.$e$.$ linking accounts, sum totals, etc.$)$See more information on expectations in the Excel Notes section below. Checkfigures are provided for $5$ key items to help ensure you are on the correct track REQUIREMENTS Part $1.$ Record the adjusting entries for items A $-$G below AND post them to the T$-$accounts on sheet $2$ Part $2.$ Prepare an Adjusted Trial Balance for Gatsby, Inc. using the Unadjusted Trial Balance and the adjusting entries $($or the Adjusted T$-$Accounts$).$ Adjusted TB check figure $$930,050.$ Part $3.$ Prepare financial statements for Gatsby, Inc. in thefollowing order: Income Statement for the year ended $12/31/$XX$.$ Check figure: Net Income equals $$78,200$ Statement of Retained Earnings for the year ended $12/31/$XX Check figure: RE $12/31/$xxequals $$165,750$ Balance Sheet for $12/31/$xx$.$ Check figure: Total Assets equal $$553,250$ Part $4.$ Record closing journal entries AND post them to the T$-$accounts on sheet $2$ Part $5.$ Prepare a Post$-$Closing Trial Balance using the updated Taccounts. Check figure: Debits equal $$583,250$ EXCEL NOTES Notice the T$-$accounts beginning balances are linked to the first sheet "trial balance."Please "link your numbers when posting to the T$-$accounts for practice and convenience. This also reduces thelikelihood oferrors. Please take advantage of Excel by using formulas to calculate$/$sum groups of numbers $($i$.$e$.$ "Total Liabilities and Stockholders' Equity"$).$ DO NOT force any cells to match check figures given. Any adjustments in the T$-$Accounts or financial statements not supported by legitimate adjusting or closing entries will be considered financial statement misrepresentation sufficient to result in a failing grade.