After the success of the company's first two months, Santana Rey continues to operate Busines5 Solutions. The November 30, 202i unadjusted trial balance of Business Solutions (reflecting its transactions for October and November of 2021) follows. Business Solutions had the following transactions and events in December 2021 . Decenber 2 Paid $960 cash to Hillside Mall for Busines5 Solutions's share of mall advertising costs. December 3 Paid $489 cash for minor repairs to the compary's computer. December 4 Received \$4, 850 cash from Alex's Engineering Company for the receivable from November. Decenber 10 Paid cash to Lyn Addie for six days of work at the rate of $115 per day. December 14 Notified by Alex's Engineering Company that Business Solutions's bid of $7,609 on a proposed project has be accepted. Alex's paid a $1,80B cash advance to Business Solutions. Decenber 15 Purchased $1,600 of computer supplies on eredit from Harris office Products. Decanber 16 Sent a reminder to Gonez Conpany to pay the fee for services recorded on Novenber 8. December 20 Completed a project for Liu Corporation and received $5,975 cash. December 22-26 Took the week off for the holidays. Decenber 28 Received $3,590 cash from Gomez. Conpany on its receivable. Dectanber 29 Reimbursed S. Rey for business autonobile mileage. (S00 milles at 50.29 per mile). December 31 Paid $1,100 cash for dividends. The following additional facts are collected for use in making adjusting entries prior to preparing financial statements for the company's first three months. a. The December 31 inventory count of computer supplies shows $580 still available: b. Three months have expired since the 12-month insurance premium was paid in advance. c. As of December 31, Lyn Addie has not been paid for four days of work at S115 per day d. The computer system, acquired on October 1 , is expected to have a four-year life with no salvage value. e. The office equipment, acquired on October 1 , is expected to have a five-year life with no salvage value. 1. Three of the four month's prepaid rent have expired. Required: 1. Prepare joumal entries to record each of the December tansactions, Post those enthes to the accounts in the indgee: 2-a. Prepare adjusting entries to reflect a through f. 2.b. Post the journal entries to record each of the December tansactions. Adjusting entries to the occounts in the iedger. 3. Prepare an adjusted trial balance as of December 31,2024 . 4. Piepare an income statement for the three monthis ended December 31,2021. 5. Prepare a statement of retained earnings for the three months ended Decem 20er 31, 2021. 6. Prepare a classified balance sheot as of Decembet 31,2021 7. Record the necessary closing entries as of December 31. 2021. 8. Prepare a post-closing trial batance as of December 31,202t Fost the focmed entrles to record ench of the Dectmber troradoctora, adjusting entries to the accounts ln the ledper? BUSINES SOLUTIONS Statement of Retained Earnings For Three Months Ended December 31, 2021 Reiained earnings, October 1, 2021 Retained eamings, December 31, 2021