Prepare and complete a $10-$column work sheet for the current fiscal year, starting with the unadjusted trial balance and including adjustments using the following additional information.Supplies available at the end of the current fiscal year total $$7,900.$Cost of expired insurance for the current fiscal year is $$10,600.$Annual depreciation on equipment is $$7,000.$April utilities expense of $$800$ is not included in the unadjusted trial balance because the bill arrived after the trial balance was prepared. The $$800$ amount owed must be recorded.Employees have earned $$2,000$ of accrued and unpaid wages at fiscal year$-$end.Rent expense incurred and not yet paid or recorded at fiscal year$-$end is $$3,000.$Additional property taxes of $$550$ have been assessed for this fiscal year but have not been paid or recorded at fiscal year$-$end.$$300$ accrued interest for April has not yet been paid or recorded.Using information from the completed $10-$column work sheet in part $1,$ journalize the adjusting entries and the closing entries.Prepare the income statement and the statement of owner's equity for the year ended April $30$ and the classified balance sheet at April $30.$Check $3$ Net Income $$77,550,$ Total Assets $$195,900,$ Current Liabilities $$13,450$