For this assignment you will be preparing all four financial statements for Dress Right Clothing Corporation. All of the information needed to prepare the statements has been provided on the trial balance tab of the Excel Project 3 Excel file. You must follow the correct format of the statements as shown in your ACC 200 textbook. 2 From the Trial Balance tab, use the information provided to prepare an Income Statement. then provide statement of stockholders, balance sheet, and statement of cash flows . . Net income: $71,500 Total assets: $223,700 For the Statement of Cash Flows Cash from operating activities $63,450 [This is a net cash inflow] Cash from investing activities: $(5,400) [This is a net cash outflow] Cash from financing activities: $(13,700) [This is a net cash outflow] Increase/(Decrease) in Cash: $44,350 [This is the number that will be calculated in Cell B28; do not manually type in this number]

Dress Right Clothing
Adjusted Trial Balance
December 31, 2021
				Current
				Year
Account Title	Debits	Credits		Change*
Cash	$63,000			$44,350
Accounts Receivable	12,400			(1,500)
Supplies	1,200			400
Prepaid Rent	10,000			1,000
Inventory	48,500			9,600
Equipment	120,000			-
Accumulated Depreciation - Equipment		$71,400		4,000
Long-Term Investments	40,000			5,400
Accounts Payable		34,600		3,700
Deferred Revenue		7,800		(2,500)
Salaries Payable		500		(4,150)
Interest Payable		400		400
Notes Payable - due in 3 years		54,000		(30,000)
Common Stock		60,000		36,200
Retained Earnings		14,800
Dividends	19,900
Sales Revenue		983,680
Interest Revenue		5,600
Cost of Goods Sold	585,000
Salaries Expense	175,260			*-Beginning of year balance minus
Supplies Expense	8,920			end of the year balance. To be used
Rent Expense	120,000			for the Statement of Cash Flows.
Depreciation Expense	4,000
Interest Expense	3,600
Income Tax Expense	21,000
	$1,232,780	$1,232,780