Marsteller Properties Inc. owns apartments that it rents to university students. At December 31, 2011, the following unadjusted account balances were available:

The following information is available for adjusting entries:
a. An analysis of apartment rental contracts indicates that $3,800 of apartment rent is unbilled and unrecorded at year-end.
b. A physical count of supplies reveals that $1,400 of supplies are on hand at December 31, 2011.
c. Annual depreciation on the buildings is $204,250
d. An examination of insurance policies indicates that $12,000 of the prepaid insurance applies to coverage for 2011.
e. Six months€™ interest at 9 percent is unrecorded and unpaid on the notes payable.
f. Wages in the amount of $6,100 are unpaid and unrecorded at December 31.
g. Utilities costs of $300 are unrecorded and unpaid at December 31.
h. Income taxes of $5,738 are unrecorded and unpaid at December 31.
Required:
1. Prepare a worksheet for Marsteller Properties.
2. Prepare an income statement, a retained earnings statement, and a classified balance sheet for Marsteller Properties.
3. Prepare the closing entries.

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Cash Rent Receivable Supplies Prepaid Insurance Land Buildings Accumulated Depreciation $4,600 Notes Payable [due in 2013) $2,000,000 1,500,000 39,200 660,000 73,200 58,700 84,300 3,400 90,000 32,500 Common Stock 4,700 Retained Earnings, 12/31/2010 60,000 Rent Revenue 274,000 4,560,000 Repairs & Maintenance Expense rtising Expense Wages Expense Utilities Expense Buildings) Other Assets 1,015,000 26,100 Interest Expense 57,300 Accounts Payable