Jaguar Auto Company provides general car maintenance to customers. The company?s fiscal year-end is December 31. The December 31, 2021, trial balance (before any adjusting entries) appears below.

In addition, the company had the following year-end adjusting entries.

Required:Complete the following steps:1. Enter the unadjusted balances from the trial balance into T-accounts.2. Post the adjusting entries to the accounts.3. Prepare an adjusted trial balance.4. Prepare an income statement and a statement of shareholders? equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021. Assume that no common stock is issued during the year.5. Record closing entries.6. Post closing entries to the accounts.7. Prepare a post-closing trial balance.

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Debits Credits Accounts $ 76,000 Cash Accounts Receivable 15,000 Supplies 27,000 Prepaid Insurance Equipment Accumulated Depreciation 24,000 95,000 $ 37,000 Accounts Payable Salaries Payable 12,000 -0- Deferred Revenue 60,000 -0- Interest Payable Notes Payable 35,000 Common Stock 35,000 Retained Earnings 10,000 Accounts Debits Credits Dividends 3,000 Service Revenue 227,000 Salaries Expense 164,000 Depreciation Expense Insurance Expense -0- -0- Supplies Expense -0- Utilities Expense Interest Expense 12,000 -0- Totals $416,000 $416,000