prepare the following: Five column worksheet, Income statement and Statement of financial position, Closing entries

On December 1, 2017, Architect. Zacharias Lee established an architectural firm under the name "Zlee Arke Design". You are the bookkeeper of the said entity. During the month, Lee had the following transactions: Dec 1. Arch. Zacharias Lee invests P500,000 cash. Dec 1 - Lee Arke Design obtain a loan from CD Bank amounting to P100,000. The loan bears 6% annual interest payable on December 1, 2017. Dec 1 - Zlee Arke Design pays P10,000 for the necessary permits and licenses for its operation. Dec 1 - Zlee Arke Design pays P120,000 for the annual rent of the office space. The lease contract will expire on December 1, 2018 and is renewable annually. Dec 2 - Zlee Arke Design rendered an architectural services to SC builders P135,000 on account. Dec 2 - Zlee Arke Design purchased supplies worth P5,000 on cash basis. Dec 8 - Zlee Arke Design renders services to Sampaguita co. for P37, 500 on cash Basis Dec 8 - Zlee Arke Design purchased a laptop for 36,000 cash. The laptop has an estimated useful life of 3 years with no residual value. The Company treats purchased during the first half of the month as a purchase at the start of the month. Dec 15-SC builders pays Zlee Arke Design Dec 17 - Architect Lee withdraws P25,000 from the law office for his personal use. Dec 20 - Foodtrip Catering services bills Zlee Arke Design for P25,000 for services rendered for the company's holiday luncheon for its clients and staff. Dec 22 Zlee Arke Design receives P35,000 cash in advance from Gomez Co. for the services rendered in 2018. Dec 23 - Zlee Arke Design renders services to SkySuites for P55,000 on account. Dec 27. Zlee Arke Design renders consultation to a client. Zlee Arke design bills for client P20,000) Dec 31 - Zlee Arke Design pay P15,000 for the salary of its accounting and office staff. Dec 31 - Zkee Arke design also pays utilities utilities P8,000. a bills for 12 Adjustments for December 31, 2017 A. Prepayments 1. Dec. 2, Zlee Arke Design purchased supplies worth P5,000, on cash basis. Office supplies of P3,000 has been used or consumed by the law office. 2. On Dec. 1, Zlee Arke Design pays P120,000 for the annunl rent of the office space. The lease contract will expire on December 1, 2018 and is renewable annualy. A month of the Prepaid Rend has been used up by the Law Office. B. Adjustment of Accrued Expenses 1. On Dec. 1, Zlee Arke Design obtain a loan from CD Bank amounting to P100,000. The loan bears 6% annual interest payable on December 1, 2018. C. Depreciation 1. Laptop was purchased for P36,000 cash. The laptop has an estimated useful life of 3 years with no residual value. The Company treats purchases during the first half of the month as a purchase at the start of the month. Prepare the following: 1. Five column-Worksheet 2. Income Statement and Statement of Financial Position 3. Closing entries