Question

The ledger of AISExperts Inc. showed the following balances after adjustment, but before closing, on December 31, 2016, the end of the current year:

Accounts payable

81500

Accounts receivable

105580

Accumulated depreciation – equipment

26540

Depreciation expense

800

Interest revenue

1100

Cash

82470

Common stock (10,000 shares outstanding)

100000

Cost of merchandise sold

635650

Dividends declared

18100

Equipment

140450

General expenses

114250

Interest expense

5600

Merchandise inventory

154250

Prepaid insurance

12325

Retained earnings

?

Dividend Revenue

10000

Salaries Payable

18560

Sales

986250

Selling expenses

140210

The president of AISExperts Inc., has asked you to develop a flexible financial statement package (call the file yournameFinState16), using Excel that includes:

a data entry sheet

an adjusted trial balance,

a single-step income statement,

a multi-step income statement,

a statement of retained earnings,

a classified balance sheet, and

a post-close trial balance

Accounts payable

81500

Accounts receivable

105580

Accumulated depreciation – equipment

26540

Depreciation expense

800

Interest revenue

1100

Cash

82470

Common stock (10,000 shares outstanding)

100000

Cost of merchandise sold

635650

Dividends declared

18100

Equipment

140450

General expenses

114250

Interest expense

5600

Merchandise inventory

154250

Prepaid insurance

12325

Retained earnings

?

Dividend Revenue

10000

Salaries Payable

18560

Sales

986250

Selling expenses

140210