Anderson Corporation has partially completed the fallowing worksheet for the year ended December 31, 2017:

Required

1. Use additional columns for adjusted trial balance, statement of earnings, statement of retained earnings, and statement of financial position, and complete the worksheet.2. Show how the fallowing adjusting entry amounts were computed:a.?$600b.?$300c.?$10,000d.?$7203.?Prepare the?closing entries.4. Why are the adjusting and closing entries journalized and posted?

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Unadjusted Trial Balance Adjusting Entries Account Titles Debit Debit Credit Credit Cash 33,000 Accounts receivable Supplies inventory Interest receivable 22,000 1,200 (a) 600 300 (b) Long-term note receivable (10%; dated September 1, 2017) Equipment (8-year life, no residual value) Accumulated depreciation Accounts payable Note payable, short-term (12%; dated July 1, 2017) Interest payable Income taxes payable Contributed capital Retained earnings 9,000 80,000 (c) 10,000 35,000 10,000 12,000 (d) 720 3,620 (e) 35,000 20,000 Service revenue 72,000 Interest revenue 300 (b) Expenses (not detailed) Depreciation expense Interest expense 600 38,800 (a) (c) 10,000 (d) 720 Income tax expense (e) 3,620 Totals 15,240 184,000 184,000 15,240