1 Question 1: 10 marks (25 minutes) 2 3 Below are the unadjusted account balances for Jasmine Inc. for March 31, 2022 45 Unadjusted Account Balances 6 7 Account 8 Accounts payable 9 Unearned revenue 10 Interest expense 11 Accumulated depreciation 12 Retained Earnings 13 Inventory 14 Prepaid insurance 15 Salaries expense 16 Cash 17 Accounts receivable 18 Long term investments 19 Common Shares 20 Equipment 21 Cost of goods sold 22 Long term loan 23 Sales 24 25 26 Amount 3,390 6,000 7,333 20,100 25,000 29,000 33,087 49,220 73,000 77,850 80,000 135,000 155,000 194,000 200,000 309,000 27 The accountant recorded the following adjusting entries at the end of the year 28 Depreciation on the equipment 29 Salaries payable for 6 days of work 30 Interest expense 31 Insurance expense for the year 32 Income tax expense, not yet paid 33 All unearned revenue obligations were fulfilled 15,500 3,000 4.667 19,087 2,423 34 35 36 Required- 37 Prepare a Statement of Financial Position, in good form, for 38 the year ended March 31, 2022 39