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P$4-7($Algo$)$ Recording Adjusting and Closing Entries and Preparing a Balance Sheet and Income Statement Including Earnings per Share L$04-1,4-2,4-4$

$[$The following information applies to the questions displayed below.$]$

Tunstall, Incorporated, a small service company, keeps its records without the help of an accountant. After much effort, an outside accountant prepared the following unadjusted trial balance as of the end of the annual accounting period on December $31$:

$\backslash$table$[[\backslash$table$[[$Tunstall$,$ Incorporated$],[$Unadjusted Trial Balance$],[$At December $31]],,],[$Cash$,$Debit,Credit$],[$Accounts receivable,$\backslash$table$[[46,000],[12,000]],],[$Supplies$,570,],[\backslash$table$[[$Prepaid insurance$],[$Service trucks$]],680,],[$Accumulated depreciation,$16,400,9,400],[$other assets,,$],[\backslash$table$[[$Accounts payable$],[$Wages payable$]],,2,270],[$Income taxes payable,,$],[\backslash$table$[[$Notes payable $(3$ years; $10\%$ interest due each September$],[30)]],,16,000],[\backslash$table$[[$Common stock shares outstanding$)],[$Additional paid$-$in capital$]],,2,006],[\backslash$table$[[$Additional paid$-$in capital$],[$Retained earnings$]],,\backslash$table$[[18,054],[5,090]]],[\backslash$table$[[$Retained earnings$],[$Service revenue$]],,\backslash$table$[[5,000],[82,360]]],[$Wages expense,$16,200,],[\backslash$table$[[$Remaining expenses $($not detailed; excludes income tax$)],[$Income tax expense$]],33,280,],[$Totals$,135,090,135,090]]$

Data not yet recorded at December $31$ included:

a$.$ The supplies count on December $31$ reflected $$220$ in remainina supplies on hand to be used in the next vear.