Overview: You just began a position as a financial accountant at Peyton Approved. In this role, your first task is toprepare the company’s financials for the year-end audit. Additionally, the company is interested in expanding itsbusiness within the next year. They would like your support in assessing their ability to meet their goals.Refer to the data below and use the Final Project Workbook that includes the income statement, balance sheet, retainedearnings statement and cash flow statement to complete the final project and associated milestones.Peyton Approved Financial Data: Preliminary Financial Statements have already been prepared (2017 statements in theFinal Project Workbook). Final adjusting entries have not yet been made. See table for possible adjustments thatindicate what will be recorded at 12/31/17 (fiscal year end). Use the following to complete year-to-year documentationand notes for managing depreciation, inventory, and long-term debt.
