use excel to complete the problem. For the statements, prepare a comprehensive income statement and classified balance sheet.

Address: 3036 Water Falls Parkway Marietta, GA 30060 Phone (770)-528-0001 E-mail Samplestudent@gmail.com 2018 Profit/ (Loss) $100,000 2019 Profir/(Loss) (20,000) During Year 10, Pacilio Security Services experienced the following transactions: Page 592 1. Paid the sales tax payable from Year 9. 2. Paid the balance of the payroll liabilities due for Year 9 (federal income tax, FICA taxes, and unemployment taxes). 3. On January 1, Year 10, purchased land and a building for $150,000. The building was appraised at $125,000 and the land at $25,000. Pacilio paid $50,000 cash and financed the balance. The balance was financed with a 10-year installment note. The note had an interest rate of 7 percent and annual payments of $14,238 due on the last day of the year. 4. On January 1, Year 10, issued $50,000 of 6 percent, five year bonds. The bonds were issued at 98. 5. Purchase $660 of supplies on account. 6. Purchased 170 alarm systems at a cost of $300. Cash was paid for the purchase. 7. After numerous attempts to collect from customers, wrote off $2,450 of uncollectible accounts receivable. 8. Sold 160 alarm systems for $580 each plus sales tax of 5 percent. All sales were on account. (Be sure to compute cost of goods sold using the FIFO cost flow method.) 9. Billed $120,000 of monitoring services for the year. Credit card sales amounted to $36,000, and the credit card company charged a 4 percent fee. The remaining $84,000 were sales on account. Sales tax is not charged on this service. $122,475 100 27,400 4,390 165 Cash Petty cash Accounts receivable Allowance for doubtful accounts Supplies Prepaid rent Merchandise inventory (38 @ $290) Equipment Van Accumulated depreciation Sales tax payable Employee income tax payable FICA-Social Security tax payable FICA-Medicare tax payable Warranty payable Unemployment tax payable Interest payable Notes payable Common stock Retained earnings 3,000 11,020 9,000 27,000 23,050 290 500 600 150 312 630 320 12,000 50,000 107,918