Required information Exercise 2-20 (Algo) Worksheet [Appendix 2A] [The following information applies to the questions displayed below.] The December 31, 2024, unadjusted trial balance for the Wolkstein Drug Company is presented below. December 31 is the company's year-end reporting date. Account Title Cash Accounts receivable Prepaid rent Debits $ 37,410 34,250 5,800 Credits Inventory Equipment Accumulated depreciation Accounts payable 53,750 126,000 $ 37,800 39,000 0 Salaries payable Common stock Retained earnings 100,000 38,500 Sales revenue 523,000 Cost of goods sold 313,800 Salaries expense 104,600 Rent expense 34,800 Depreciation expense 0 Utilities expense 20,920 Advertising expense 6,970 Totals $ 738,300 $ 738,300 The following year-end adjusting entries are required: a. Depreciation expense for the year on the equipment is $12,600. b. Salaries at year-end should be accrued in the amount of $6,680. Exercise 2-20 (Algo) Part 1 Required: 1. Prepare and complete a worksheet. WOLKSTEIN DRUG COMPANY Worksheet December 31, 2024 Balance Sheet Unadjusted Trial Balance Adjusting Entries Adjusted Trial Balance Income Statement Account Title Debit Credit Debit Credit Debit Credit Debit Credit Debit Cash 37,410 Accounts receivable 34,250 Prepaid rent 5,800 Inventory 53,750 Equipment 126,000 Accumulated depreciation 37,800 Accounts payable 39,000 Salaries payable 0 Common stock 100,000 Retained earnings 38,500 Sales revenue 523,000 Cost of goods sold 313,800 Salaries expense 104,600 Rent expense 34,800 Depreciation expense 0 Utilities expense 20,920 Advertising expense 6,970 Credit 0 0 0 0 Net income Totals 738,300 738,300 0 0 0 0 0 0 0