2. Thomas Magnum began operations as a private investigator on January 1, 2010. The trial balance columns of the worksheet for Thomas Magnum, P.I. at March 31 are as follows. Account Titles Cash Accounts Receivable Supplies Prepaid Insurance Equipment Notes Payable Accounts Payable T. Magnum, Capital T. Magnum, Drawing Service Revenue Salaries Expense Travel Expense Rent Expense Miscellaneous Expense THOMAS MAGNUM, P.I. Worksheet For the Quarter Ended March 31, 2010 Trial Balance Dr. Cr. 11,400 5,620 1,050 2,400 30,000 10,000 12,350 20,000 600 13,620 2,200 1,300 1,200 200 55,970 55,970 Other data: 1. Supplies on hand total $380. 2. Depreciation is $1,000 per quarter. 3. Interest accrued on 6-month note payable, issued January 1, $300. 4. Insurance expires at the rate of $200 per month 5. Services provided but unbilled at March 31 total $530. *(a) Adjusted trial balance $57,800 *(b) Net income $6,680 *Total assets $48,730 Instructions (a) Enter the trial balance on a worksheet and complete the worksheet. (b) Prepare an income statement and owner's equity statement for the quarter and a classified balance sheet at March 31.1. Magnum did not make any additional investments in the business during the quarter ended March 31, 2010. (c) Journalize the adjusting entries from the adjustments columns of the worksheet. (d) Journalize the closing entries from the financial statement columns of the worksheet. Journalize, post, and prepare a partial income statement