A portion of the work sheet of Sadie's Flowers for the year ended December 31 is as follows: Sadie's Flowers Work Sheet For Year Ended December 31, 20-- Income 1 Statement Income Statement Balance Sheet Balance Sheet 2 Account Name 3 Cash 4 Merchandise Inventory 5 Supplies 6 Prepaid Insurance 7 Store Equipment 8 Accumulated Depreciation, Store Equipment 9 Accounts Payable 10 S. R. Rodriguez, Capital Debit Credit Debit Credit 9,340.00 76,940.00 256.00 240.00 39,280.00 26,220.00 14,600.00 68,940.00 11 S. R. Rodriguez, Drawing 27,600.00 12 Sales 173,420.00 13 Sales Returns and Allowances 1,520.00 14 Purchases 82,312.00 15 Purchases Returns and Allowances 940.00 16 Purchases Discounts 1,600.00 17 Freight In 1,948.00 18 Salary Expense 37,560.00 19 Rent Expense 14,800.00 20 21 Income Summary 65,680.00 76,940.00 22 Depreciation Expense, Store Equipment 4,040.00 23 Insurance Expense 760.00 24 Supplies Expense 944.00 25 Salaries Payable 26 Total 560.00 $209,564.00 $252,900.00 $153,656.00 $110,320.00 Required: 1. Determine the entries that appeared in the Adjustments columns and present them in general journal form 2. Determine the net income for the year. 3. What is the amount of the ending capital? Chart Of Accounts CHART OF ACCOUNTS Sadie's Flowers General Ledger ASSETS 111 Cash 113 Accounts Receivable 114 Merchandise Inventory 115 Supplies 116 Prepaid Insurance REVENUE 411 Sales 412 Sales Returns and Allowances 413 Sales Discounts 414 Rent Income 124 Store Equipment EXPENSES 124.1 Accumulated Depreciation, Store 500 Cost of Goods Sold Equipment 130 Land 511 Purchases 512 Purchase Returns and Allowances 513 Purchases Discounts LIABILITIES 514 Freight-in 212 Accounts Payable 533 Insurance Expense 214 Sales Tax Payable 537 Supplies Expense 215 Salaries Payable 538 Utilities Expense 235 Notes Payable 250 Unearned Rent EQUITY 311 S. R. Rodriguez, Capital 312 S. R. Rodriguez, Drawing 313 Income Summary 541.1 Depreciation Expense, Store Equipment 551 Advertising Expense 621 Salaries Expense 622 Payroll Tax Expense 627 Rent Expense 628 Property Tax Expense 631 Miscellaneous Expenses 810 Interest Expense 1. Prepare the transactions in the adjusting entries on December 31. General Journal Instructions 1 2 3 4 5 6 7 8 9 10 11 12 13 GENERAL JOURNAL DATE ACCOUNT TITLE Adjusting Entries PAGE 1 POST. REF. DEBIT CREDIT 2. Determine the net income for the year. Net Income $ Points: 0/1 3. What is the amount of the ending capital? Ending Capital $ Points: 0/1