12A-4. Using the ledger balances and additional data given, do the following for 2. Prepare the income statement, statement of owner's equity, and balance Cullen Lumber for the year ended December 31, 2018: 1. Prepare the worksheet. sheet. 3. Journalize and post adjusting and closing entries. (Be sure to put begin ning balances in the ledger first.) 4. Prepare a post-closing trial balance. 5. Journalize the reversing entry for wages accrued. pletion of the Accounting Cycle for a Merchandi Account Balances for Cullen Lumber Acct. No. 110 111 $1,370 112 113 114 Cash Accounts Receivable Merchandise Inventory Lumber Supplies Prepaid Insurance Lumber Equipment Accum. Dep., Lumber Equipment Accounts Payable Wages Payable J. Cullen, Capital J. Cullen, Withdrawals Income Summary 1,260 4,450 277 212 2,600 530 1,180 121 122 220 221 6,544 3,300 330 331 332 440 23,100 441 220 550 14,600 551 285 552 660 Sales Sales Returns and Allowances Purchases Purchases Discount Purchases Returns and Allowances Wages Expense Advertising Expense Rent Expense Dep. Expense, Lumber Equipment Lumber Supplies Expense Insurance Expense 290 2,480 370 661 790 662 663 664 665 Additional Data a./b. C. d. Merchandise inventory, December 31 Lumber supplies on hand, December 31 Insurance expired Depreciation for the year Accrued wages on December 31 $4,800 100 180 200 85 e. f