$\backslash$table$[[$Account Title,,Debits,Credits$],[$Cash$,,$$ $36,400,],[$Accounts receivable,,$43,600,],[$Supplies$,,3,300,],[$Inventory$,,63,600,],[$Notes receivable,,$23,600,],[$Interest receivable,,$0,],[$Prepaid rent,,$2,800,],[$Prepaid insurance,,$9,600,],[$Office equipment,,$94,400,],[$Accumulated depreciation,,,$ $35,400],[$Accounts payable,,,$34,600],[$Salaries payable,,,$0],[$Notes payable,,,$53,600],[$Interest payable,,,$0],[$Deferred sales revenue,,,$3,800],[$Common stock,,,$85,200],[$Retained earnings,,,$37,500],[$Dividends$,,7,600,],[$Sales revenue,,,$164,000],[$Interest revenue,,,$0],[$Cost of goods sold,,$88,000,],[$Salaries expense,,$20,700,],[$Rent expense,,$12,800,],[$Depreciation expense,,$0,],[$Interest expense,,$0,],[$Supplies expense,,$2,900,],[$Insurance expense,,$0,],[$Advertising expense,,$4,800,],[$Totals$,$$$,$$$414,100,$$ $414,100]]$

Information necessary to prepare the year$-$end adjusting entries appears below.

Depreciation on the office equipment for the year is $$11,800.$

Employee salaries are paid twice a month, on the $22$ nd for salaries earned from the $1$ st through the $15$ th$,$ and on the $7$ th Depreciation on the office equipment for the year is $$11,800.$

Employee salaries are paid twice a month, on the $22$ nd for salaries earned from the $1$st through the $15$th$,$ and on the $7$th

of the following month for salaries earned from the $16$th through the end of the month. Salaries earned from December

$16$ through December $31,2024,$ were $$1,700.$

On October $1,2024,$ Pastina borrowed $$53,600$ from a local bank and signed a note. The note requires interest to be

paid annually on September $30$ at $12\%.$ The principal is due in $10$ years.

On March $1,2024,$ the company lent a supplier $$23,600,$ and a note was signed requiring principal and interest at $8\%$ to

be paid on February $28,2025.$

On April $1,2024,$ the company paid an insurance company $$9,600$ for a one$-$year fire insurance policy. The entire

$$9,600$ was debited to prepaid insurance at the time of the payment.

$$1,010$ of supplies remained on hand on December $31,2024.$

The company received $$3,800$ from a customer in December for $1,650$ pounds of spaghetti to be delivered in January

Pastina credited deferred sales revenue at the time cash was received.

On December $1,2024,$ $$2,800$ rent was paid to the owner of the building. The payment represented rent for December

$2024$ and January $2025$ at $$1,400$ per month. The entire amount was debited to prepaid rent at the time of the

payment.

Required:

$1$ to $3.$ First, post the unadjusted balances from the unadjusted trial balance that was given and the adjusting entries that were made in

Problem $2-3$ into the appropriate T$-$accounts $($on the T$-$accounts tab$).$ Then prepare an adjusted trial balance.

$4-$a$.$ Prepare an income statement for the year ended December $31,2024.$ Assume that no common stock was issued during the year

and that $$7,600$ in cash dividends were paid to shareholders during the year.

$4-$b$.$ Prepare a statement of shareholders' equity for the year ended December $31,2024.$ Assume that no common stock was issued

during the year and that $$7,600$ in cash dividends were paid to shareholders during the year.

$4-$c$.$ Prepare a classified balance sheet as of December $31,2024.$ Assume that no common stock was issued during the year and that

$$7,600$ in cash dividends were paid to shareholders during the year.

Prepare closing entries and post to the T$-$accounts $($on the T$-$accounts tab$).$

Prepare a post$-$closing trial balance.