Dunder Mifflin, Inc. Classified Income Statement For the month ended February 28, 2018 Service revenue $ 226,000 Operating expenses: Supplies expense Wages expense Rent expense 20,000 76,000 8,200 104,200 121,800 Total operating expenses Income from operations Other items: 1,200 123,000 Gain on sale of equipment Income before income taxes Income tax expense Net income $123,000 The following additional information is provided at February 28,2018 1) Depreciation expense for the month was $4,300 2) Cash of $18,000 was received on January 1,2018 for services to be performed throughout the year. 3) A physical count showed $17,000 of supplies on hand at 2/28/18. 4) Wages of $6,000 earned during February will be paid in March. 5) The interest rate on the $60,000 note payable is 8%. 6) Received a February electricity bill for $325 on March 4. 7) The long-term notes receivable has an interest rate of 4% 8) The advertising contract expires on July 31,2018. 9) The leasing agreement on the office building requires an additional payment equal to 2% of service revenue. The payment will be made in March 10) The income tax rate is 35% Required: Prepare all adjusting journal entries necessary on February 28, 2018 Use Excel to create an unadjusted trial balance for Dunder Mifflin, Inc. from the classified balance sheet and income statement at February 28,2018. a. b. c. Post all adjusting journal entries necessary on February 28, 2018 to your Excel trial balance. Create additional accounts as necessary Use Excel to create the adjusted trial balance. d. Dunder Mifflin, Inc. Classified Income Statement For the month ended February 28, 2018 Service revenue $ 226,000 Operating expenses: Supplies expense Wages expense Rent expense 20,000 76,000 8,200 104,200 121,800 Total operating expenses Income from operations Other items: 1,200 123,000 Gain on sale of equipment Income before income taxes Income tax expense Net income $123,000 The following additional information is provided at February 28,2018 1) Depreciation expense for the month was $4,300 2) Cash of $18,000 was received on January 1,2018 for services to be performed throughout the year. 3) A physical count showed $17,000 of supplies on hand at 2/28/18. 4) Wages of $6,000 earned during February will be paid in March. 5) The interest rate on the $60,000 note payable is 8%. 6) Received a February electricity bill for $325 on March 4. 7) The long-term notes receivable has an interest rate of 4% 8) The advertising contract expires on July 31,2018. 9) The leasing agreement on the office building requires an additional payment equal to 2% of service revenue. The payment will be made in March 10) The income tax rate is 35% Required: Prepare all adjusting journal entries necessary on February 28, 2018 Use Excel to create an unadjusted trial balance for Dunder Mifflin, Inc. from the classified balance sheet and income statement at February 28,2018. a. b. c. Post all adjusting journal entries necessary on February 28, 2018 to your Excel trial balance. Create additional accounts as necessary Use Excel to create the adjusted trial balance. d