INSTRUCTIONS: Solve the problem below clearly, accurately, and completely using paper/pencil or excel. Work must be complete and submitted as Excel or PDF file.

Showers Inc. has a 12/31 fiscal year end. Provided below (on page 2) is the Adjusted Trial Balance for this company at 12/31/19. Prepare in good form on accounting paper (paper with lines and columns) or in Excel, the following required fiscal yearend financial statements: multiple-step income statement; retained earnings statement; classified balance sheet. Work should be neat, well organized, accurate, and complete. REMINDER: In the stockholders equity section of the balance sheet, the par value per share and the number of stock shares authorized, issued, and outstanding should be reported.

Showers Inc. Adjusted Trial Balance 31-Dec-19 Cash Petty Cash Accounts Receivable Allowance for doubtful accounts Notes receivable (due 9/30/20) Inventory Estimated Returns Inventory Supplies Prepaid Insurance Land Equipment Accumulated Depreciation Accounts Payable Salaries payable Customers refunds payable Income taxes payable Bonds payable, due 12/31/2029 Discount on bonds payable Common Stock, $2 par, 100,000 shares authorized Paid in capital in excess of par--Common Stock Treasury Stock--Common, 550 shares at cost Retained Earnings, 1/1/2019 Cash dividends Sales Cost of goods sold Selling expenses Administrative expenses Interest revenue Interest expense Income taxes expense 41,700 500 162,375 4,200 40,000 90,000 50,200 4,000 4,800 100,500 470,000 70,700 63,150 13,600 60,200 21,070 300,000 4,500 88,000 12,000 55,000 393,300 15,000 2,310,205 1,682,250 356,200 246,200 6,000 13,000 6,200 3,342,425 3,342,425