1/1 An Investor acquired 100% of stock with an investment of S200,000 cash. Crazy's Par value of stock was 100.00/share and a thousand shares were sold 1/1 Crazy borrowed S250,000 cash by issuing a 3-year note with a stated interest rate of 12% per year. To be compounded semi-annually. The interest will be paid o January 1 of each year; and the principal will be paid on the maturity dat 1/3 Prepaid a year's rent for $24,000 (cash) for the current year. The first month's rent was due 1/1 for January l/15 Purchased with cash office equipment for $36,000 and supplies for S12,000 2/7 Received S150,000 cash for consulting, services to be performed in the future for client X 3/1 Started up a second line of consulting services, which will be discontinued later Sold services (delivered) and received S200,000 in cash in consulting services and paid related misc. penses of $50,000. Ad-s 7/1 Prepaid $36,000 cash for a 12-month insurance policy (starting on 7/1) 9/12 Purchased S10,000 more of supplies on credit 9/16 Provided consulting services ofS30,000 on credit to client Y from first line o consulting service division. 10/1 Purchased S10,000 (with cash) of an investment in another company's (Pear Inc.) stock. Not considered by our management as a trading stock y 10/20 Collected $5,000 from client Y 20 Sold S50,000 services (20% cash deposit, remaining 80% on credit) to Client ZA from the first line of business. 90% of the services are performed by year-end. 12/1 Found a buyer for second line of consulting services. Sold the business in exchange for S40,000 worth of equipment; which resulted in a gain of S40,000 12/15 Paid down the payable (supplies with a si,000 cash payment. Received S10,000 from Client ZA 12/31 Counted supplies and determined that S5,000 of supplies were still on hand 12/3 Hired employees in mid-December. Salaries are to be paid on 113. The total amount of current year expense is S15K. The amount unpaid related to this amount at year-end is S2K. 12/31 Determined appropriate total depreciation is $10,000 12/31 Determined that there is still about $10,000 to do for client X 12/31 Determined that the stock purchased on 10/1 was now only worth S12,000 However, the stock was not sold 12/31 We declared but did not pay a dividend of 10,000 to our investor 12/31 We received cash of S2,000 in dividends from Pear Inc Tax Rate is 30% (none of the tax is paid, but it is accrued as a liability)

l. Prepare Journal Entries and Adjusting Entries 2). Prepare Income Statement including OCI and a Balance Sheet in good form for 12/31/2015. Prepare closing entries.