Adjusted TB DR CR Income Statement DR CR Balance Sheet DR CR Bozeman Lasers Company Worksheet for the Year Ending 12/31/2020 Unadjusted TB Adjustments Account Title DR CR # DR # CR Cash 164.000 Accounts Receivable 0 Inventories 240,000 Prepaid Insurance 0 Equipment 480.000 Accum. Depr. Equip 40.000 Wages Payable 0 Unearned Revenue 370,000 Owner Capital 320,000 Drawings 80,000 Sales Revenue 2,050,000 Cost of Goods Sold Wages Expense Rent Expense Insurance Expense Depreciation Expense 1,450,000 270,000 60,000 36,000 0 Totals 2,780,000 2,780,000 Net Income Totals Additional Information: 1) a) There was an unrecorded sale of a $180,000 Laser in late December delivered to a customer who will pay in January 2021. b) The costs of building this Laser were $ 90,000 and are currently included in the Inventory account 2) There are unrecorded wages of $28,000 earned in December, but will not be paid until January 3, 2021. 3) A 2-year property and liability insurance policy was purchased on January 1, 2020 for $36,000. 4) In 2020 customers paid $370,000 in advance cash deposits for Lasers. As of 12/31/20, $100,000 worth of projects were unfinished. The costs of these finished lasers are already included in the Cost of Goods Sold. 5) The equipment purchased on Jan 1, 2019 has a 12 year useful life, and has no estimated salvage value. Required: A) Record the adjusting journal entries necessary, if any for the additional information (label the reference # for your entries.) B) Complete the worksheet taking into account the adjusting journal entries, preparing the adjusted trial balance, and extending the accounts to the approriate financial statement that they affect. C) Total all columns. D) Determine the Net Income or Loss, and circle & label your answer. E) There are no actual errors in the accounts, and the cash balance is correct