Using the information provided on the partial worksheet for Jay€™s Supplies of Sarnia shown on page 602, your task is to:
a. Complete the worksheet.
b. Prepare the income statement, statement of owner€™s equity, and classified balance sheet. The amount of the mortgage due the first year is $800.
c. Journalize the adjusting and closing entries.

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JAMES COMPANY WORKSHEET FOR YEAR ENDED DECEMBER 31, 2014 Balance Sheet Account Titles Cash Petty Cash Accounts Receivable Merchandise Inventory r. r. 2500 00 5000 1300 00 4250 00 34400 60000 18000 00 Supplies Prepaid Insurance Store Equipment Accum. Amort., Store Eq. Automobile Accum. Amort., Auto Accounts Payable Taxes Payable Unearned Rent Mortgage Payable H. James, Capital H. James, Withdrawals 75000 2500 00 50000 345000 210000 1100000 800000 1050000 400000 Accrued Salaries 10000 3354400 3640000 Net Loss 2856 00 3640000 3640000