At year$-$end, you have the following data for adjustments:

An analysis indicates that prepaid rent on December $31$ should be $$2,300.$

A physical inventory shows that $$650$ of office supplies is on hand.

Depreciation for $2022$ is $$35,250.$

An analysis indicates that unearned service revenue should be $$3,120.$

Wages in the amount of $$3,450$ are owed but unpaid and unrecorded at year$-$end.

Six months$$ interest at $8\%$ on the note was paid on September $30.$ Interest for the period from October $1$ to December $31$ is unpaid and unrecorded.

Income tax of $$55,539$ is owed but unrecorded and unpaid.

Required:

Prepare the adjusting entries.

Prepare a statement of earnings, a statement of retained earnings, and a statement of financial position using adjusted account balances.

CONCEPTUAL CONNECTION Why would you not want to prepare financial statements until after the adjusting entries are made?

Please complete this question perfectly use the following attached image