Accounting Cycle The unadjusted trial balance (step 4) of Sketch Star Makers Inc., prepared as of December 31, 2018, includes the following account balances. S 15,000 3,000 1,500 7,200 15,000 Cash Accounts Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Notes Payable (long-term) Unearned Revenue Service Revenue Salaries and Wages Expense (recorded) Retained earnings (1 January 2018) Total 3.000 30,000 7.500 45.000 45,000 86,700 1.200 87,600 The following information is also available: A) A count of supplies revealed $600 worth on hand at December 31, 2018. B) An insurance policy, purchased on January 1, 2018, covers four years. The eaninment denreciater at mot of 150 The following information is also available: A) A count of supplies revealed $600 worth on hand at December 31, 2018. B) An insurance policy, purchased on January 1, 2018, covers four years. C) The equipment depreciates at a rate of $1,500 per year; no depreciation has been recorded for 2018. D) Three-fifths (or 60%) of the amount recorded as Unearned revenue remains unearned as of December 31, 2018. E) Additional $15,000 of salaries are accrued at 31 December 2018. F) The notes payable, 10 percent per year, was signed on 15 September 2018, no interest expense on this note was recorded. G) Additional $5,000 of services are performed at 31 December 2018. H) Assume that the corporate tax rate is 10 percent. Required: 1. Prepare the required adjustments for the company as of December 31, 2018 2. Prepare T-accounts Required: 1. Prepare the required adjustments for the company as of December 31, 2018. 2. Prepare T-accounts 3. Prepare adjusted trial balance on December 31, 2018. 4. Prepare income statement, statement of retained earnings, and statement of financial position (classified) for the year ended 31 December 2018. 5. Prepare closing entries on December 31, 2018. 6. Prepare post-closing trial balance on December 31, 2018