12 Listed below are the account balances from adjusted trial balance of ATS Company. ATS Company Adjusted Trial Balance December 31, 2019 Account Name Cash Accounts Receivable Store Supplies Inventory Equipment Debit Credit 16.000 17.000 2.300 73.000 Accumulated Depreciation, Equipment 17.300 Accounts Payable 12.000 Notes Payable 26.000 Capital 65.000 Withdrawals 6.500 Service Revenue 105.000 Store Supplies Expense 20.500 Insurance Expense 16.000 Salaries Expense 20.000 Delivery Expense 13.000 Utilities Expense 12.000 Interest Expense 14.000 Depreciation Expense, Equipment 15.000 Totals 225.300 225.300 Required: a. Journalize closing entries for ATS Company (20 POINTS) b. Prepare an Income Statement and a Balance Sheet for ATS Company (12 POINTS) Partial unadjusted trial balance of ATS Consulting Company is given below: ATS Consulting Company Unadjusted Trial Balance December 31, 2019 Account Name Debit Credit Cash 8.000 Bank 60.000 Accounts Receivable 56.000 Notes Receivable 17.400 Office Supplies 8.000 Prepaid Insurance 24.000 Prepaid Rent 9.000 Accounts Payable 22.000 Unearned Service Revenue 12.000 Bank Loan 8.000 Furniture and Fixture 100.000 Capital 200.000 Service Revenue 97.000 Salaries Expense 38.000 Advertising Expense 3.600 Utilities Expense 5.000 Withdrawals 10.000 Totals 339.000 339.000 1. Office Supplies on hand totaled $6.000. 2. Accrued utilities expense is $3.600. 3. $7.200 of the prepaid insurance has expired as of December 31, 2019. 4. Accrued interest on bank loan as of December 31, 2019 is $600. 5. Accrued interest revenue on cash in bank is $2.400. 6. As of December 31, 2019, $7.200 of Unearned Service Revenue is earned. 7. Depreciation expense for furniture and fixture is $14.400. Required: Journalize adjusting entries for ATS Consulting Company