Can someone please explain me why number 4 is wrong and how I need to solve number 5 for the rest of the debits and credits. thanks

Juan Real Estate Company (organized as a corporation on April 1, 2013) has completed the accounting cycle for the year, ended March 31, 2018. Juan has also completed a correct trial balance as follows: Credit Debit $ 66,000 51,300 950 43,000 $ 16,500 4,300 JUAN REAL ESTATE COMPANY Adjusted Trial Balance At March 31, 2018 Account Titles Cash Accounts receivable Office supplies inventory Automobiles (company cars) Accumulated depreciation, automobiles Office equipment Accumulated depreciation, office equipment Accounts payable Salaries and commissions payable Note payable, long term Contributed capital (30,000 shares) Retained earnings (on April 1, 2017) Dividends declared Sales commissions earned Management fees earned Operating expenses (detail omitted to conserve your time) Depreciation expense (including $1,150 on office equipment) Interest expense 1,650 23,500 2,150 43,000 48,000 9,300 9,300 83,500 19,500 61,000 8,100 3,150 Totals $247,100 $247,100 Assuming a 30 percent tax rate. Required: 1. Prepare a statement of earnings for the reporting year ended March 31, 2018. (Round "Earnings per share" to 2 decimal places.) Answer is complete and correct. JUAN REAL ESTATE COMPANY Statement of Earnings For the Year Ended March 31, 2018 Revenues: Sales commissions $ 83,500 Management fees 19,500 0 Total revenues $ 103,000 Expenses: Depreciation 8,100 0 Interest 3,150 Operating (various) 61,000 Total expenses 72,250 Earnings before income taxes 30,750 Income tax expense 9,225 Net earnings $ 21,525 Earnings per share $ 0.72 2. Prepare the journal entry to record income taxes for the year (not yet paid). (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is complete and correct. No Transaction Debit Credit General Journal Income tax expense Income tax payable 9,225 9,225 3. Prepare a statement of financial position at the end of the reporting year, March 31, 2018. Answer is complete and correct. $ 118,250 JUAN REAL ESTATE COMPANY Statement of Financial Position As at March 31, 2018 Assets Current Assets: Cash $ 66,000 Accounts receivable 51,300 Office supplies inventory 950 0 Total current assets Noncurrent assets: Automobiles, at cost 43,000 Less: Accumulated depreciation 16,500 Office equipment, at cost 4,300 Less: Accumulated depreciation 1,650 Total noncurrent assets Total assets Liabilities Current Liabilities: Accounts payable 23,500 0 Income tax payable Salaries and commissions payable 2,150 Total current liabilities Long-Term Liabilities: Notes payable 26,500 OOOO 2,650 29,150 147,400 $ 000 9,225 loo 34,875 43,000 0 77.875 Total liabilities Shareholders' Equity Retained earnings Contributed capital 21.525 48,000 0 Total shareholders' equity Total liabilities and shareholders' equity 69,525 147,400 $ 4. Compute the net profit margin ratio and the return on equity. (Round the final answers to the nearest whole number) X Answer is complete but not entirely correct. 21 % Net profit margin Return on equity 31 5. Prepare the closing entries at March 31, 2018. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) X Answer is not complete. No Transaction General Journal Credit Debit 19,500 Management fees Sales commissions Income summary Income summary Income tax expense Interest expense Operating expenses OOOOOOOOO Income summary Retained earnings