Account Titles	Unadjusted Trial Balance		Adjusting Entries		Adjusted Trial Balance
	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
Cash	$ 30,000.00				$ 30,000.00
Accounts receivable	$ 40,000.00				$ 40,000.00
Supplies	$ 1,500.00			$ 700.00	$ 800.00
Inventory	$ 60,000.00				$ 60,000.00
Notes receivable	$ 20,000.00				$ 20,000.00
Interest receivable	$ -		$ 1,333.00		$ 1,333.00
Prepaid rent	$ 2,000.00			$ 1,000.00	$ 1,000.00
Prepaid insurance	$ 6,000.00		$ 3,750.00		$ 9,750.00
Equipment	$ 80,000.00				$ 80,000.00
Accumulated depreciation		$ 30,000.00		$ 10,000.00		$ 40,000.00
Accounts payable		$ 31,000.00				$ 31,000.00
Salaries payable		$ -		$ 1,500.00		$ 1,500.00
Notes payable		$ 50,000.00				$ 50,000.00
Interest payable		$ -		$ 1,500.00		$ 1,500.00
Unearned revenue		$ -		$ 2,000.00		$ 2,000.00
Common stock		$ 60,000.00				$ 60,000.00
Retained earnings		$ 28,500.00				$ 28,500.00
Dividends	$ 4,000.00				$ 4,000.00
Sales revenue		$ 148,000.00	$ 2,000.00			$ 146,000.00
Interest revenue		$ -		$ 1,333.00		$ 1,333.00
Cost of goods sold	$ 70,000.00				$ 70,000.00
Salaries expense	$ 18,900.00		$ 1,500.00		$ 20,400.00
Rent expense	$ 11,000.00		$ 1,000.00		$ 12,000.00
Depreciation expense	$ -		$ 10,000.00		$ 10,000.00
Interest expense	$ -		$ 1,500.00		$ 1,500.00
Supplies expense	$ 1,100.00		$ 700.00		$ 1,800.00
Insurance expense	$ -			$ 3,750.00	$ (3,750.00)
Advertising expense	$ 3,000.00				$ 3,000.00
Totals	$ 347,500.00	$ 347,500.00	$ 21,783.00	$ 21,783.00	$ 361,833.00	$ 361,833.00

1. Prepare an income statement and a statement of shareholders equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021. Assume that no common stock was issued during the year and that $4,000 in cash dividends were paid to shareholders during the year.

2. Prepare closing entries and post to the accounts.

3. Prepare a post-closing trial balance.