Quigley Corporation's trial balance at December 31, 2022, is presented below. All 2022 transactions have been recorded except for the items described below.

1. On January 1, 2022, Quigley issued 1,000 shares of $20 par, 6% preferred stock for $22,000.
2. On January 1, 2022, Quigley also issued 1,000 shares of common stock for $23,000.
3. Quigley reacquired 300 shares of its common stock on July 1, 2022, for $49 per share.
4. On December 31, 2022, Quigley declared the annual cash dividend on the preferred stock and a $1.50 per share dividend on the outstanding common stock, all payable on January 15, 2023.
5. Quigley estimates that uncollectible accounts receivable at year-end are $5,100.
6. The building is being depreciated using the straight-line method over 30 years. The salvage value is $5,000.
7. The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $4,000.
8. The unearned rent was collected on October 1, 2022. It was the receipt of 4 months' rent in advance (October 1, 2022 through January 31, 2023).
9. The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2022, has not been paid or recorded.

Instructions
(Ignore income taxes.)
a. Prepare journal entries for the transactions and adjustment listed above.
b. Prepare an updated December 31, 2022, trial balance, reflecting the journal entries in (a).
c. Prepare a multiple-step income statement for the year ending December 31, 2022.
d. Prepare a retained earnings statement for the year ending December 31, 2022.
e. Prepare a classified balance sheet as of December 31, 2022.

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Cash Accounts Receivable Inventory Land Buildings Equipment Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Debit $ 25,500 51,000 22,700 65,000 95,000 40,000 Credit $ 450 30,000