Directions: In Excel, fill out the financial forms, answer the questions as noted below, and upload here. James and Holly Johnson started a consulting business on December $1,2021.$ They called the business Johnson $\backslash$& Johnson Consulting, Inc. Taccounts have been set up for the following accounts: $-$ Cash $-$ Accounts Receivable $-$ Supplies $-$ Prepaid Rent $-$ Computer Equipment $-$ Accumulated Depreciation$-$Computer Equipment $-$ Furniture $-$ Accumulated Depreciation$-$Furniture $-$ Accounts Payable $-$ Unearned Service Revenue $-$ Salary Payable $-$ Common Stock $-$ Dividends $-$ Service Revenue $-$ Rent Expense $-$ Utilities Expense $-$ Salary Expense $-$ Supplies Expense $-$ Depreciation Expense Journalize and Post the following transactions for Johnson $\backslash$& Johnson Consulting, Inc. for December $2021.$ Explanations are not required.

$-$ Dec $1-$James $\backslash$& Holly Johnson Invested $\backslash (\backslash$$ $20,000\backslash )$ in the business. Johnson $\backslash$& Johnson issued Common Stock to the Johnsons.

$-$ Dec $1-$Paid $\backslash (\backslash$$ $1,200\backslash )$ for one year of office rent

$-$ Dec $3-$Purchased Supplies on account $\backslash (\backslash$$ $500\backslash ).$

$-$ Dec $3-$Purchased a Computer on account, $\backslash$$$1600.$

$-$ Dec $4-$Purchased Furniture for office for $\backslash (\backslash$$ $2,700\backslash )$ Cash.

$-$ Dec $4-$Performed Consulting Services for $\backslash (\backslash$$ $900\backslash )$ cash. Payment was received immediately upon completion of services.

$-$ Dec $7-$Performed Consulting Services on account, $\backslash$$$1,400$

$-$ Dec $9-$Paid Telephone bill, $\backslash (\backslash$$ $160\backslash )$

$-$ Dec $11-$Paid for heat $\backslash$& electricity, $\backslash (\backslash$$ $85\backslash )$

$-$ Dec $15-$Received $\backslash (\backslash$$ $2,000\backslash )$ to perform Consulting services over the next month. Assume revenue is earned evenly over the next $30$ days.

$-$ Dec $21-$Paid employees $\backslash (\backslash$$ $1200\backslash )$

$-$ Dec $30-$Dividends Paid$-\backslash$$$1,000$

Prepare Adjusted Trial Balance

Prepare Income Statement, Statement of Retained Earnings and Balance Sheet

$-$ What is Johnson $\backslash$& Johnson's Profit Margin Ratio? Current Ratio? Debt Ratio? Do you believe the company is in good financial condition as of Dec $31,2021?$ Why or Why Not?

$-$ Which accounts will be closed at the end of the period?