Prepare the financial statements below using data in the attached adjusted trial balance.

North Star Inc.
Adjusted Trial Balance
31-Dec-18
	Debit	Credit
Cash	185,000
Accounts Receivable	14,250
Allowance for Doubtful Accounts		950
Inventory as of 12/31/18	48,000
Supplies	2,400
Equipment	275,000
Accumulated Depreciation - Equipment		180,000
Building	355,000
Accumulated Depreciation - Building		195,000
Land	275,000
Accounts Payable		29,500
Salaries and Wages Payable		4,500
Mortgage Payable		125,000
Common Stock $0.10		1,000
APIC		145,000
Retained Earnings		84,000
Sales Revenue		1,285,000
COGS	289,300
Selling Expenses	245,000
Admin Expenses	286,000
Income Tax Expenses	75,000
	2,049,950	2,049,950

Required:

Prepare the Income Statement (Multiple Step Format)

Prepare the Statement of Retained Earnings

Prepare the Balance Sheet (Classified Format)

Prepare the necessary year-end closing entries

Prepare the Year End Trial Balance