create individual ledgers for years 1 and 2. Then create a balance sheet, income statement, and statement of stockholders Equity separately for both years 1 and 2. create these in excel and please provide formulas used as well.

3 4 5 6 Post transactions to the Ledger for the corresponding year (using formulas) Calculate amounts for December 31 adjustments in yellow boxes (using formulas) Post adjustments to the Ledger for the corresponding year (using formulas) Prepare the following financial statements (using formulas) for the corresponding year: (a) Balance Sheet (b) Income Statement (c) Statement of Stockholders' Equity Year 1 Given Information $ 697,544 153,460 6,801 15,346 30,552 558,035 1-Jan Issued common stock in exchange for cash 1-Feb Borrowed money from the bank by signing a one-year note, at arate of 10% 10-Mat Paid for advertisements to be run during the month 1-Apr Paid in advance for a one-year insurance policy 15-May Purchased supplies on account 1-Jun Landscaping equipment is purchased for cash 18-Jul Performed lawn mowing services for cash 1-Aug Paid for maintenance on the lawn mowers in cash 20-Aug Performed landscaping services on account 1-Oct Paid in advance for two years of rent on a storage facility 30-Nov Received cash payment from a customer for future services (not yet performed) 15-Deo Paid new employees for one month of work payday is always on the 15th of the month 127,651 10,202 99,051 38,365 80,218 31.389 December 31st Adjustments: a Eleven months of interest has accrued on the note (to be paid in cash on Feb 1 next year) b Nine months have lapsed on the one-year insurance policy c d A physical count of supplies at the end of the year reveals half of the supplies were used The equipment is estimated to have a useful life of five years with no salvage value; depreciation must be recorded. The rented storage facility has been used for three months Employees have worked for half a month (December 16 - December 31) in the current year but won't be paid until January 15. e f Given Information $ 31,389 Year 2 15-Jan Paid employees for one month of work 1-Feb Paid back the note payable in full, plus interest, at a rate of 10% 15-Mar Performed half of the services for customer who paid in advance 168,806 40,109 20-Jun 16,663 Issued additional common stock in exchange for cash Collected cash from customers for services previously performed 26-Jul 89,146 16-Aug Performed services for cash 312,745 20-Sep Performed services on account 242,675 8-Oct Performed remaining services for customer who paid in advance 40,109 7-Nov 24,994 Paid for maintenance on equipment in cash 345,279 15-Dec Paid employee salaries 5,580 30-Dec Paid a cash dividend to owners of the business Lordne December 31st Adjustments: a b Remaining three months of one-year insurance policy were used up A physical count of supplies at the end of the year reveals all remaining supplies were used The equipment is estimated to have a useful life of five years with no salvage value; depreciation must be recorded. The rented storage facility has been used for twelve months Employees have worked for half a month in the current year but won't be paid until January 15. d e Balance Sheet Assets Liabilities Stockholders Equity Accounts Receivable Prepaid Insurance Running. Prepaid Rent Unearned Service Revenue Account Payable Equipment Notes Payable Salaris Payable Interest Payable Common Stock Betained farin Accele Balance Sheet Income Statement Statement of Stockholdn't Cash Cassapanes Plus Stock Accounts Receivable Ending Common Stock Advertising Maintenance Supplies Prepaid insurance Beginning Retained farning Prepaidat Equipment Sales Expense Interest Expense Insurance pense Supplies Depreciation Minus Dividers Ending Hadi Total Aut Yonal Stockholm Lais 3 4 5 6 Post transactions to the Ledger for the corresponding year (using formulas) Calculate amounts for December 31 adjustments in yellow boxes (using formulas) Post adjustments to the Ledger for the corresponding year (using formulas) Prepare the following financial statements (using formulas) for the corresponding year: (a) Balance Sheet (b) Income Statement (c) Statement of Stockholders' Equity Year 1 Given Information $ 697,544 153,460 6,801 15,346 30,552 558,035 1-Jan Issued common stock in exchange for cash 1-Feb Borrowed money from the bank by signing a one-year note, at arate of 10% 10-Mat Paid for advertisements to be run during the month 1-Apr Paid in advance for a one-year insurance policy 15-May Purchased supplies on account 1-Jun Landscaping equipment is purchased for cash 18-Jul Performed lawn mowing services for cash 1-Aug Paid for maintenance on the lawn mowers in cash 20-Aug Performed landscaping services on account 1-Oct Paid in advance for two years of rent on a storage facility 30-Nov Received cash payment from a customer for future services (not yet performed) 15-Deo Paid new employees for one month of work payday is always on the 15th of the month 127,651 10,202 99,051 38,365 80,218 31.389 December 31st Adjustments: a Eleven months of interest has accrued on the note (to be paid in cash on Feb 1 next year) b Nine months have lapsed on the one-year insurance policy c d A physical count of supplies at the end of the year reveals half of the supplies were used The equipment is estimated to have a useful life of five years with no salvage value; depreciation must be recorded. The rented storage facility has been used for three months Employees have worked for half a month (December 16 - December 31) in the current year but won't be paid until January 15. e f Given Information $ 31,389 Year 2 15-Jan Paid employees for one month of work 1-Feb Paid back the note payable in full, plus interest, at a rate of 10% 15-Mar Performed half of the services for customer who paid in advance 168,806 40,109 20-Jun 16,663 Issued additional common stock in exchange for cash Collected cash from customers for services previously performed 26-Jul 89,146 16-Aug Performed services for cash 312,745 20-Sep Performed services on account 242,675 8-Oct Performed remaining services for customer who paid in advance 40,109 7-Nov 24,994 Paid for maintenance on equipment in cash 345,279 15-Dec Paid employee salaries 5,580 30-Dec Paid a cash dividend to owners of the business Lordne December 31st Adjustments: a b Remaining three months of one-year insurance policy were used up A physical count of supplies at the end of the year reveals all remaining supplies were used The equipment is estimated to have a useful life of five years with no salvage value; depreciation must be recorded. The rented storage facility has been used for twelve months Employees have worked for half a month in the current year but won't be paid until January 15. d e Balance Sheet Assets Liabilities Stockholders Equity Accounts Receivable Prepaid Insurance Running. Prepaid Rent Unearned Service Revenue Account Payable Equipment Notes Payable Salaris Payable Interest Payable Common Stock Betained farin Accele Balance Sheet Income Statement Statement of Stockholdn't Cash Cassapanes Plus Stock Accounts Receivable Ending Common Stock Advertising Maintenance Supplies Prepaid insurance Beginning Retained farning Prepaidat Equipment Sales Expense Interest Expense Insurance pense Supplies Depreciation Minus Dividers Ending Hadi Total Aut Yonal Stockholm Lais