1. Journalize the adjusting entries on May 31

2. Prepare a ledger using the three-column form of account. Enter the trial balance amounts into the balance column and then post the adjusting entries. (Post entries in the order of journal entries posted in the previous part of the question. Round answers to 0 decimal places, e.g. 5,275.)

3. Prepare an adjusted trial balance on May 31. (Round answers to 0 decimal places, e.g. 5,275.)

4. Prepare an income statement for the month of May 31. (Round answers to 0 decimal places, e.g. 5,275.)

5. Prepare an retained earnings statement for the month of May 31. (Round answers to 0 decimal places, e.g. 5,275.)

6.Prepare a balance sheet at May 31. (List Assets in order of liquidity. List Property, plant and equipment in order of land, buildings and equipment. Round answers to 0 decimal places, e.g. 5,275.)

The Swifty Corporation opened for business on May 1, 2019. Its trial balance before adjustment on May 31 is as follows. Swifty Corporation Trial Balance May 31, 2019 Account Number Credit 101 Cash Supplies Debit $3,400 2,100 3,000 13,000 Prepaid Insurance Land Buildings 61,300 15,100 Equipment Accounts Payable $11,200 Unearned Rent Revenue 3.300 Mortgage Payable 40,000 Common Stock 35,300 Rent Revenue 12,900 Advertising Expense 650 Salaries and Wages Expense 3.200 Utilities Expense 950 $102,700 $102,700 In addition to those accounts listed on the trial balance, the chart of accounts for Swifty Corporation also contains the following accounts and account numbers: No. 142 Accumulated Depreciation-Buildings, No. 150 Accumulated Depreciation Equipment, No. 212 Salaries and Wages Payable, No. 230 Interest Payable, No. 619 Depreciation Expense, No. 631 Supplies Expense, No. 718 Interest Expense, and No. 722 Insurance Expense. Other data: 1. Prepaid insurance is a 1-year policy starting May 1, 2019. 2. A count of supplies shows $700 of unused supplies on May 31. 3. Annual depreciation is $3,060 on the buildings and $1.512 on equipment. 4. The mortgage interest rate is 12%. (The mortgage was taken out on May 1.) 5. Two-thirds of the unearned rent revenue has been earned. 6. Salaries of $800 are accrued and unpaid at May 31