Using the Excel file, you are to prepare the income statement

UnadjustedAdjusted
Cash44,77044,770.00
Investments450,000450,000.00
Fair Value Adjustment13,000.00
Accounts Receivable400,000400,000.00
Allowance for Doubtful Accounts20,000380,000(20,000.00)
Prepaid Rent10,000-
Inventory500,000580,000.00

Investment in Timberside Corporation700,000848,000.00
Investment in Mickey Mouse Bonds290,029300,000.00
Discount on Investment in MM Bonds(6,938.00)
Land807,000807,000.00
Building800,000800,000.00
Equipment650,000853,504.00
Accumulated Depreciation(250,000)1,200,000(290,700.00)

Patent100,000100,000.00
Equipment under Lease67,006.00
Accumulated Amortization Lease(14,859.00)
Total Assets4,481,799#########

Accounts Payable749,700749,700.00
Warranty Liability8,000.00
Interest Payable8,000.00
Lease Obligation44,566.00
Notes Payable400,000400,000.00
Asset Retirement Obligation37,645.00
Common stock100,000100,000.00
Retained earnings net of treasury stock of $75,0003,232,099#########
Other Comprehensive Income13,000.00
Treasury Stock(75,000.00)

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