Marold Copelance sheet at December 31, 2018, is presented below Canh lentowy Prepaid insurance Equipment Marga Corp Balance Sheet December 31, 2016 $31,000 Accounts payable 31,000 Interest payable 6.600 Bonds payable 100 Common stock Retained earnings $106.700 $12,550 2750 55,000 16.800 18.600 $ 106,700 During 2019, the following transactions occurred. 1 Marigold paid $2,750 interest on the bonds on January 1, 2019 2 Marigold purchased $244,200 of inventory on account. 3. Marigold sold for $481,000 cash inventory which cost $260.000. Marigold also collected $33,670 sales taxes. 4. Marigold paid $235,000 on accounts payable. 5. Marigold paid $2,750 interest on the bonds on July 1, 2019 6. The prepaid insurance ($6,600) expired on July 31 7. On August 1, Marigold paid $12,000 for insurance coverage from August 1, 2019, through July 31, 2020 B. Marigold paid $24.700 sales taxes to the state 9. Paid other operating expenses, 591,000 10. Retired the bonds on December 31, 2019, by paying $52,000 plus $2.750 interest 11 Issued $94,000 of 9% bonds on December 31, 2019, at 104. The bonds pay interest every December 31. Adjustment data: 1. Recorded the insurance expired from item 7 2. The equipment was acquired on December 31, 2018, and will be depreciated on a straight-line basis over 5 years with a $2.760 salvage value. 3. The income tax rate is 30%. Hint Prepare the income statement up to income before taxes and multiply by 30% to compute the amount.) Prepare journal entries for the transactions listed above. (Credit crunt titles are automatically indented when amount is entered Do not indart marianty) No. Account Titles and Explanation Debit Credit 2. 3. to record sales reven here to search (To vece of goods ) 4 5. 5 7. B. 9 10. (To record payment of bond interest (To record redemption of bonds) 11 Prepare journal entries for the adjusting entries. Ouditacurt titles are automatically indented when amount is entered. De not indent manually) Debit Credit No Account Titles and Explanation 2. ype here to search 2 3. eTextbook and Media List of Accounts Prepare an adjusted trial balance at December 31, 2019. Marigold Corp. Trial Balance Debit Credit e here to search i Prepare an adjusted trial balance at December 31, 2019. Marigold Corp Trial Balance credit Totals e Textbook and Media List of Accounts Prepare an income statement for the year ending December 31, 2019. ype here to search Q BI W - Prepare an income statement for the year ending December 31, 2019. Marigold Corp Income Statement v $ e Textbook and Media List of Accounts Prepare a retained earnings statement for the year anding December 31, 2019. (List is that increase retained comings first oe here to search 1 e Textbook and Media List of Accounts Prepare a retained earnings statement for the year ending December 31, 2019. (lists that interiusfirst) Marigold Corp. Retained Earnings Statement $ $ e Textbook and Media List of Accounts Prepare a classified balance sheet as of December 31, 2019. listournent was in order of liquidity) Marigold Corp. Balance Sheet Assets ype here to search i Prepare a dashad balance sheet as of December 31, 2019. Lite Marigold Corp. Balance Sheet Assets Liabilities and Stockholders' Equity e Textbook and Media here to search