prepare the post closing trial balance sheet.

Peyton Approved Post Closing Trial Balance Qtr. Ending 9/30/2018 Unadjusted Trial Balance Credit Account Debit Cash Baking Supplies Merchandise Inventory (FIFO Prepaid Rent Prepaid Insurance Baking Equipment Accumulated Depreciation Office Supplies Accounts Receivable Accounts Payable Wa Interest Payable Common Stock Totals Unadjusted trial balance Adjusting entries Adjusted trial balance Credit Debit Account Credit Debit Credit 32,236.75 17,400.00 1,100.00 Merchandise Inventory (FFO) 500.00 6,000.00 600.00 Prepaid Insurance 2.400.00 6,000.00 250.00 550.00 7.700.00 700.00 10,000.00 50.00 5,000.00 480.00 16,000.00 50.00 480.00 16,000.00 10,000.00 10,000.00 55,000.00 221.00 17,400.00 Baking Supplies Expense Rent Expense Interest Expense Insurance Expense Depreciation Expense 4,500.00 4,500.00 50.00 2,400.00 250.00 250.00 550.00 375.00 200.00 1,956.00 150.00 157.60 50.00 2,400.00 250.00 250.00 550.00 Office Supplies Expense Business License Expense 375.00 200.00 1,956.00 150.00 157.60 Wages Expense Telephone Expense COGS (FIFO) 86.701.00 20,650.00 20,650.0087,001.00 87,001.00 Total: (FIFO) Peyton Approved Closing Entries Qtr ending 9/30/2018 Credit Debit 55,000.00 Date 30-Sep Bakery Sales Accounts 221.00 Merchandise Sales 55,221.00 Income Summary 30-Sep Income Summary (FIFO 17,400.00 4,500.00 50.00 2,400.00 250.00 250.00 550.00 375.00 200.00 1,956.00 150.00 157.60 ense Rent Expense Wages Expense Office Supplies Expense Business License Expense Misc. Expense Depreciation Expense Insurance Expense Advertising Expense Interest Expense Telephone Expense COGS FIFO 30-Sep Income Summary (FIFO 26,982.40 26,982.40 Retained Earnings FIFO 10,000.00 30-Sep Retained Earnings Dividends 10,000.00 Peyton Approved Income Statement For Qtr. Ending 9/30/2018 Revenues Bakery Sales Merchandise Sales $ 55,000.00 221.00 55,221.00 157.6 55,063.40 Total Revenues Cost of Goods Sold Gross Profit (FIFO) Operating Expenses: Baking Supplies Expenses 17,400.00 4,500.00 50.00 250.00 250.00 550.00 375.00 200.00 1,956.00 150.00 2,400.00 28,081.00 ent Expenses Interest Expenses epriciation Expense Misc. Expense Office Supplies Expense usiness License Expense Advertising Expense ages Expense elephone Expense nsurance Expense Total Operating Expenses: Net Income (FIFO) 26,982.40