Lab 26 Instructions For Lab 26 you will use the Trial Balance that is provided to prepare the 3 financial statement using the templates provided. Then upload the financial statements using the link. There is a folder with an example and a video. You can use that example as a guide for what to do and how to do it. The basic steps are as follows: 1. Open the Lab 26 Trial Balance and the Lab 26 Financial Statement Template. 2. Use the accounts and balances to prepare these Financial Statements in this order: a. Use the Revenues and Expenses from the Trial balance to prepare a Multi-Step Income Statement b. Use the Net Income from the Income Statement and the Retained Earnings and Dividends from the Trial Balance to prepare a Retained Earnings Statement Use the April 30 Retained Earnings from the Retained Earnings Statement and the Assets, Liabilities and Stockholders Equity accounts from the Trial Balance to prepare the Classified Balance Sheet 3. Upload the completed Financial Statements using the Lab 26 upload link. C. Wear a Mask Company Adjusted Trial Balance April 30, 2020 Account Title Balance Debit Credit Cash $137,000 Accounts Receivable 71,000 305,000 Merchandise Inventory Office Supplies Prepaid Rent 14,000 20,000 Land 350,000 450,000 $100,000 480,000 Building Accumulated Depreciation--Building Equipment Accumulated Depreciation-Equipment Accounts Payable Unearned Revenue Salaries Payable Notes Payable (Long Term) Bonds Payable (Long Term) Preferred Stock Paid in Capital in Excess of Par - Preferred Common Stock Paid in Capital in Excess of Par-Common Retained Earnings Dividends Net Sales Revenue Interest Revenue Cost of Goods Sold Rent Expense (Selling) Commission Expense (Selling) 10,000 47,000 25,000 16,000 375,000 475,000 50,000 100,000 200,000 300,000 75,000 28,000 358,000 37,000 142.000 10,000 40,000 5,000 Utilities Expense (Selling) Rent Expense (Administrative Salaries Expense (Administrative) Utilities Expense (Administrative) Interest Expense Tax Expense 12,000 60,000 2,000 20,000 22.000 Total $2,168,000 $2.168,00 0 Wear a Mask Company Income Statement For the Month Ended April 30, 2020