A six-column table for JKL Company follows. The first two columns contain the unadjusted trial balance for the company as of July 31, 2013. The last two columns contain the adjusted trial balance as of the same date.

Required Analysis Component 1. Analyze the differences between the unadjusted and adjusted trial balances to determine the eight ad¬ justments that likely were made. Show the results of your analysis by inserting these adjustment amounts in the table’s two middle columns. Label each adjustment with a letter a through h and pro¬ vide a short description of it at the bottom of the table.

2. Use the information in the adjusted trial balance to prepare the company's

(a) income statement and its statement of owner's equity for the year ended July 31, 2013 (Note: J. Logan. Capital at July 31, 2012, was $40,000, and the current-year withdrawals were $5,000), and

(b) the balance sheet as of July 31, 2013.

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Cash Accounts receivable Office supplies. Prepaid insurance Office equipment Accum. depreciation- Office equip. Unadjusted Trial Balance Adjustments Adjusted Trial Balance $ 34,000 $ 34,000 14,000 22,000 16,000 2,000 8.540 2,960 84,000 84.000 Accounts payable Interest payable. $ 14,000 9,100 $ 20,000 10,000 0 1.000 Salaries payable Unearned consulting fees Long-term notes payable 0 7.000 18,000 15,000 52,000 52,000 J. Logan, Capital. 40,000 40,000 J. Logan, Withdrawals 5,000 5,000 Consulting fees earned 123.240 134,240 Depreciation expense- Office equip. 0 6,000 Salaries expense 67,000 74,000 Interest expense 1,200 2,200 Insurance expense 0 5,580 Rent expense 14,500 14,500 Office supplies expense 0 14,000 Advertising expense 12,100 13,000 Totals.. $256,340 $256,340 $279,240 $279,240