3. Kecord the entry to close the dividends account. \begin{tabular}{|l|l|l|l|} \hline & MM. Service & & \\ & revenue; NN. & & \\ & Supplies; OO. & & \\ & Supplies expense; PP. & & \\ & Utilities expense; & & \\ & QQ. Utilities payable & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} 2. Record the entry to close the expense accounts. 5. Prepare closing entries and post to the T-accounts (on the T-accounts tab). Note: If no entry is required for a particular transaction, select "No journal entry required" in the first account field. 1. Record the entry to close the revenue accounts. Required information [The following information applies to the questions displayed below.] Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2024, appears below. Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $11,400. 2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1 st through the 15 th, and on the 7 th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2024, were \$1,450. 3. On October 1, 2024, Pastina borrowed $52,800 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years. 4. On March 1,2024 , the company lent a supplier $22,800, and a note was signed requiring principal and interest at 8% to be paid on February 28, 2025. 5. On April 1,2024 , the company paid an insurance company $8,800 for a one-year fire insurance policy. The entire $8,800 was debited to prepaid insurance at the time of the payment. 6. $890 of supplies remained on hand on December 31, 2024. 7. The company received $3,400 from a customer in December for 1,450 pounds of spaghetti to be delivered in January 2025. Pastina credited deferred sales revenue at the time cash was received. 8. On December 1,2024,$2,400 rent was paid to the owner of the building. The payment represented rent for December 2024 and January 2025 at $1,200 per month. The entire amount was debited to prepaid rent at the time of the payment. Required: 1 to 3 . First, post the unadjusted balances from the unadjusted trial balance that was given and the adjusting entries that were made in Problem 2-3 into the appropriate T-accounts (on the Taccounts tab). Then prepare an adjusted trial balance. 4-a. Prepare an income statement for the year ended December 31, 2024. Assume that no common stock was issued during the year and that $6,800 in cash dividends were paid to shareholders during the year. 4-b. Prepare a statement of shareholders' equity for the year ended December 31, 2024. Assume that no common stock was issued during the year and that $6,800 in cash dividends were paid to shareholders during the year. 4-c. Prepare a classified balance sheet as of December 31, 2024. Assume that no common stock was issued during the year and that $6,800 in cash dividends were paid to shareholders during the year. 5. Prepare closing entries and post to the T-accounts (on the T-accounts tab). 6. Prepare a post-closing trial balance. 3. Kecord the entry to close the dividends account. \begin{tabular}{|l|l|l|l|} \hline & MM. Service & & \\ & revenue; NN. & & \\ & Supplies; OO. & & \\ & Supplies expense; PP. & & \\ & Utilities expense; & & \\ & QQ. Utilities payable & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} 2. Record the entry to close the expense accounts. 5. Prepare closing entries and post to the T-accounts (on the T-accounts tab). Note: If no entry is required for a particular transaction, select "No journal entry required" in the first account field. 1. Record the entry to close the revenue accounts. Required information [The following information applies to the questions displayed below.] Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2024, appears below. Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $11,400. 2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1 st through the 15 th, and on the 7 th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2024, were \$1,450. 3. On October 1, 2024, Pastina borrowed $52,800 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years. 4. On March 1,2024 , the company lent a supplier $22,800, and a note was signed requiring principal and interest at 8% to be paid on February 28, 2025. 5. On April 1,2024 , the company paid an insurance company $8,800 for a one-year fire insurance policy. The entire $8,800 was debited to prepaid insurance at the time of the payment. 6. $890 of supplies remained on hand on December 31, 2024. 7. The company received $3,400 from a customer in December for 1,450 pounds of spaghetti to be delivered in January 2025. Pastina credited deferred sales revenue at the time cash was received. 8. On December 1,2024,$2,400 rent was paid to the owner of the building. The payment represented rent for December 2024 and January 2025 at $1,200 per month. The entire amount was debited to prepaid rent at the time of the payment. Required: 1 to 3 . First, post the unadjusted balances from the unadjusted trial balance that was given and the adjusting entries that were made in Problem 2-3 into the appropriate T-accounts (on the Taccounts tab). Then prepare an adjusted trial balance. 4-a. Prepare an income statement for the year ended December 31, 2024. Assume that no common stock was issued during the year and that $6,800 in cash dividends were paid to shareholders during the year. 4-b. Prepare a statement of shareholders' equity for the year ended December 31, 2024. Assume that no common stock was issued during the year and that $6,800 in cash dividends were paid to shareholders during the year. 4-c. Prepare a classified balance sheet as of December 31, 2024. Assume that no common stock was issued during the year and that $6,800 in cash dividends were paid to shareholders during the year. 5. Prepare closing entries and post to the T-accounts (on the T-accounts tab). 6. Prepare a post-closing trial balance