Excel File Edit View Insert Format Tools Data Window Help AutoSave OFF A A F ? ' C ... BRI Practice Set Part 2 Fall 2023 Home Insert Draw Page Layout Formulas Data Review View Automate ? Tell me Arial 12 A ab Wrap Text v General Paste MV Av Merge & Center v $ ~ % 08 Fo A4 fx Part 2: Financial Statements and Cash Flows B C D E 1 ACC 4550 - Intermediate Ill 2 Blowing Rock Incorporated Practice Set 3 Fall 2023 Part 2: Financial Statements and Cash Flows UI P Required: (A) Use the following adjusted trial balance to prepare a properly formatted multi-step income statement (including EPS), statement of retained earnings, and 6 classified balance sheet. 7 (B) Assume that BRI reported the following selected balances at 12/31/2022: 8 Accounts receivable (net) $ 299,600 9 Inventory 572,632 10 Accounts payable 200, 164 11 Salaries and wages payable 33,670 12 13 Compute: 14 Cash collected from customers 15 Cash paid to suppliers 16 Cash paid to employees 17 18 Adjusted Trial Balance 19 Account Titles Dr Cr Information Set Ready Ex Accessibility: Investigate stv 3 27 MaxBook Pro esc B I U A @ $ %Window Help Excel File Edit View Insert Format Tools Data A HE ? ' C ... B AutoSave OFF Home Insert Draw Page Layout Formulas Data Review View Automate X ab Wrap Text v Arial v 12 A A Merge & Cen Paste B I U MVA A4 X V fx Part 2: Financial Statements and Cash Flows A B C D E 19 Account Titles Dr Cr 20 Cash 26, 143 1 Equity securities portolio 47,521 22 Fair value adjustment 3,585 23 Accounts receivable 284, 171 24 Allowance for doubtful accounts 14,209 25 Inventory 623,636 26 Prepaid insurance 11,080 27 Land 414,518 28 Buildings 1,455,667 29 Accumulated depreciation-bldg 490,534 30 Equipment 1,041,038 31 Accumulated depreciation-equip 337,259 32 Deferred tax asset 6,000 33 Patent 17,970 4 Accounts payable 205,799 35 Income taxes payable 108,659 36 Note payable 42,000 37 Bonds payable 300,000 8 Premium on bonds payable 16,038 39 Preferred stock (5%, $100 par) 200,000 40 Common stock ($10 par value) 400,000 1 Paid-In capital in excess of par 42 Retained earnings 471,999 43 Dividends 934,729 90,000 44 Sales revenue 4,634,536 Information Set Ready Ex Accessibility: Investigate as tv W D EData Excel Edit View Insert Format Tools window File AutoSave OFF A AH ? C ... Home Insert Draw Page Layout Formulas Data Review View Automate VA A ab Wrap Text Arial 12 Paste B UV A Merge & C A4 X V fx Part 2: Financial Statements and Cash Flows D A B C 4,634,536 44 Sales revenue 45 Cost of goods sold 3,172,647 46 Salaries and wages expense 580,593 47 Advertising expense 65,641 48 Depreciation expense 161, 167 49 Other administrative expenses 24,772 50 Supplies expense 4,894 51 Amortization expense 11,000 52 Gain on sale of trading securities 4,894 53 Rent revenue 3,900 54 Interest expense 19,877 55 Gain on sale of land 1,507 56 Loss on sale of equipment 17,280 57 Income tax expense 1 10,659 58 Totals 59 Additional accounts: 60 Unrealized gain/ loss on securities 7,685 61 Bad debt expense 8,089 62 Insurance expense 5,240 63 Interest payable 24,630 64 Impairment loss 26,030 65 Salaries and wages payable 31,560 66 Supplies 720 67 Totals 8,229,937 68 8,229,937 69 Information Set Ready Accessibility: Investigate as tv W P