Problem 5.4A (Static) Preparing a worksheet and financial statements, journalizing adjusting entries, and posting to ledger accounts. LO 52,53,54,55 Shayla Green owns Creative Designs. The trial balance of the firm for January 31,201, the first month of operations, is she below. End-of-the-month adjustments must account for the following items: a. Supplies were purchased on January 1, 20X1; inventory of supplies on January 31, 20X1, is $3,200. b. The prepaid advertising contract was signed on January 1, 20X1, and covers a four-month period. c. Rent of $4,200 expired during the month. d. Depreciation is computed using the straight-line method. The equipment has an estimated useful ufe of 10 years with no salvage value. Required: 1. Complete the worksheet for the month. 2. Prepare an income statement, statement of owner's equity, and balance sheet. No additional investments were made by thi owner during the month: 3. Journalize and post the adjusting entries. Prev 1 of 1 Next Post the adjusting entries. work mode : This shows what is correct or incorrect for the work you