Unadjusted Adjusted Unadjusted Adjusted E 37,000 E 37,000 4,500 3,200 ,200 15,000 61,700 Accounts Payable Accounts Receivable E 25,200 30.500 E 25,200 Notes Payable Prepaid Insurance 10,500 30,500 Accumulated Depr -Equip. 22,00033,000 21,000 Property Tax Expense Cash Cost of Goods Sold Depreciation Expense Dividends Equipment Freight-Out Insurance Expense Interest Expense Interest Revenue Inventory Property Taxes Payable 21,000 507,000507,000 RentExpense 15,000 61,700 96,000 11,000 8,000 154.300154,300 6,500 6,000 6,100 Retained Earnings Salaries and Wages Expense Sales Commissions Expense Sales Commissions Payable Sales Returns and Allowances Sales Revenue 6,50096,000 7,000 9,000 706,000 706,000 45,000 8,500 8,000 6,500 6,100 13,500 8,000 8,000 Share Capital-Ordinary 45,000 8,500 26,00026,000 Utilities Expense Instructions (a) Prepare an income statement, a retained earnings statement, and a classified state. (a) Net income 32,200 ment of financial position. Notes payable are due in 2020. (b) Journalize the adjusting entries that were made. (c) Journalize the closing entries that are necessary P5-4B Emile Kokott, a former disc golf star, operates Emile's Discorama, SA. At the begin. Jounalize, post, and ning of the current season on April 1, the ledger of Emile's Discorama showed Cash 1,850, prepare a trial balance Inventory 2,150, and Share Capital-Ordinary 4,000. The following transactions were (Lo 2, 3, 4) completed during April. Apr. 5 Purchased golf discs, bags, and other inventory on account from Ellis Co. Retained earnings 85,900 Total assets 203,30 1,200, FOB shipping point, terms 2/10, n/60. 7 Paid freight on the Ellis purchase 75. 9 Received credit from Ellis Co. for merchandise returned 100. 10 Sold merchandise on account for 930, terms n/30. The merchandise sold had a cost of 540 Purchased dise golf shirts and other accessories on account from Penguin Sportswear 720, terms 1/10, n/30. 12