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Required information Exercise 3-20B Record transactions and prepare adjusting entries, adjusted trial balance, financial statements, and closing entries (LO3-3, 3-4, 3-5, 3-6, 3-7) [The following information applies to the questions displayed below) On January 1, Year 1, a company had the following balances: Cash, $20.000; Supplies, $8,800; Land. $68,000, Deferred Revenue, $5,800: Common Stock $58,000; and Retained Earnings. $33,000. During Year 1, the company had the following transactions: 1. February 15 Issue additional shares of common stock, $28,000. 2. May 20 Provide services to customers for cash, $43,880, and on account, $38,800. 3. August 31 Pay salaries to employees for work in Year 1, $31,000. 4. October 1 Purchase rental space for one year, $20,000. 5. November 17 Purchase supplies on account, $30,000. 6. December 30 Pay dividends, $2,800. The following information is available on December 31, Year 1: 1. Employees are owed an additional $4,800 in salaries. 2. Three months of the rental space has expired. 3. Supplies of $5.800 remain on hand. 4. All of the services associated with the beginning deferred revenue have been performed Complete this question by entering your answers in the tabs below Income Stmt of Statenfent Stockholders Balance Sheet Equity Prepare an income statement. Income Statement For the Year Ended December 31, Year 1 ices Expenses: Total Expenses Trico Stmt of Stockholde Complete this question by entering your answers in the tabs below. Income Stmt of Statement Stockholders Balance Sheet Equity Prepare a statement of stockholders' equity. Statement of Stockholders' Equity For the Year Ended December 31, Year 1 Common Stock Retained Earnings Total Stockholders' Equity Balance at January 1 Balance at December 31