A B C D 1 On March 31, 2022, Oulette Ltd's opening trial balance was as follows. The company adjusts its accounts monthly. 2 Debit Credit 3 Cash $14,550 4 Accounts receivable 5 Supplies 6 Furniture 7 Accumulated depreciation-Furniture 8 Accounts Payable 9 Salaries payable 10 Deferred revenue 11 Common shares 12 Retained earnings 13 Service revenue 14 Salaries expense 15 Utilities expense 16 Depreciation expense 17 Income tax expense 18 19 20 Additional information 21 1. Supplies on hand are $4,500. 22 2. Salaries are $500 per day. At March 31, five days' salaries have been incurred but not paid. 23 3. Received a $1,500 advance cash payment from a client for services to be performed in the future. 24 3,200 7,300 15,000 $5,000 4,450 2.800 2,300 12,000 15,450 15,000 8,300 4,500 +1.550 2,600 $57,000 $57,000 25 26 Required: 27 a) Prepare adjusting entries for the month. 28 b) Prepare an adjusted trial balance at March 31. 29 c) Prepare a (1) statement of income, (2) statement of retained earnings, and (3) statement of financial position. 30 31