Based on the adjusted trial balance and additional information, prepare the following in an Excel file to give to the controller for review:
o Balance sheet
o Income statement
o Statement of retained earnings
o Statement of cash flows
The following is additional information about the Flower Shoppe that is needed for financial-statement preparation:
Net income for the year ended December 31, 2008 was $10,845.
Changes from the prior year's balances included the following:
- a decrease in accounts receivable of $300.
- a decrease in inventory of $450.
- an increase in accounts payable of $250.
- an decrease in accrued expenses of $100.
Land was purchased in April for $3,500.
Cash as of January 1, 2008 was $10,105.
The Flower Shoppe
Adjusted Trial Balance
[see the attached file]
Your excel spreadsheet with an income statement, a balance sheet, a statement of cash flows and a statement of retained earnings is attached. Click in cells to see computations.