1 25 points Required: 2.,5, & 8. Prepare the summary, adjusting and closing entries for each of the transactions listed. 3. Post the transactions, adjusting and closing entries into the appropriate t-accounts. 4. Prepare an unadjusted trial balance. 6. Prepare an adjusted trial balance. 7-a. Prepare an income statement for 2021. 7-6. Prepare a balance sheet as of December 31, 2021. 9. Prepare a post-closing trial balance. 00:19:25 Complete this question by entering your answers in the tabs below. eBook Reg 2 5 and 8 Reg 3 Print Reg 4 Reg 6 Req 7A Reg 78 Req 9 Prepare an income statement for 2021. References KARLIN COMPANY Income Statement For the Year Ended December 31, 2021 0 $ 0 Roof Re: 70 M The general ledger of the Karlin Company, a consulting company, at January 1, 2021, contained the following ace Account Title Cash Accounts receivable Equipment Accumulated depreciation Salaries payable Common stock Retained earnings Total Debits Credits 30,800 14,500 24,000 7,200 8,250 45,500 8,350 69,300 69,300 0:17:59 Book Print The following is a summary of the transactions for the year: a. Service revenue, $120,000, of which $36,000 was on account and the balance was received in casi. b. Collected on accounts receivable, $24,700. c. Issued shares of common stock in exchange for $12,500 in cash. d. Paid salaries, $43,750 (of which $8,250 was for salaries payable at the end of the prior year) e. Paid miscellaneous expense for various items, $23,600. f. Purchased equipment for $14,500 in cash. g. Paid $2,900 in cash dividends to shareholders. 1. Accrued salaries at year-end amounted to $875. 2. Depreciation for the year on the equipment is $2,400. References Required: 2., 5, & 8. Prepare the summary, adjusting and closing entries for each of the transactions listed. 3. Post the transactions, adjusting and closing entries into the appropriate t-accounts. 4. Prepare an unadjusted trial balance. 6. Prepare an adjusted trial balance. 7-a. Prepare an income statement for 2021. 7-b. Prepare a balance sheet as of December 31, 2021. 9. Prepare a post-closing trial balance