Problem $3-$AB Preparing a work sheet, adjusting and closing entries, and financial statements $1$ ca $0$p$1$The following unadjusted trial balance is for Ace Construction Co$.$ at its June $30$ current fiscal yearend. The credit balance of the Retained Earnings account was $$78,660$ on June $30$ of the prior year.Required$1.$ Prepare and complete a $10-$column work sheet for the current fiscal year, startin including adjustments using the following additional informationa. Supplies available at the end of the current fiscal year total $$3,300$b$.$ Cost of expired insurance for the current fiscal year is $$3,800$c$.$ Annual depreciation on equipment is $$8,400.$d$.$ June utilities expense of $$650$ is not included in the unadiusted trial balance begause the bel prepared. The $$650$ amount owed must be recorded.e$.$ Employees have earned $$1,800$ of accrued and unpaid wages at fiscal yearendf. Rent expense incurred and not yet paid or recorded at fiscal yearend ists$5007.$ Additional property taxes of $$1000$ have been assessed for this fiscal year but have got bh$.$ $$250$ accrued interest for June has not yet been paid or recorded$\mathrm{.}2.$ Using information from the completed $10-$column work sheet in part $1$ journalize the adjusting eniries and the closing entries$\mathrm{.}3.$ Prepare the income statement and the statement of retained earnings for the year ended June $30$ and the classified balance sheet at June $30.$