anyone able to help with this? I am a little confused. Please see attachment. There are two problems.

There are two homework problems this week. The first is below and the second one is on the second tab at the bottom left of the screen Below you will see an unadjusted trial balance run at year end follwed by information needed to make adjusting entries. Baltimore Glass Company Trial Balance December 31, 2014 Acct. No. Account Title 101 Cash 110 Accounts Receivable 120 Merchandise Inventory, 1/1/2014 125 Supplies on Hand 130 Prepaid Insurance 131 Prepaid Rent 150 Equipment 160 Accumulated Depreciation 202 Accounts Payable 210 Wages Payable 301 Capital Stock 302 Retained Earnings, 1/1/2014 401 Sales 405 Sales Returns and Allowances 410 Interest Revenue 500 Purchases 502 Purchases Returns and Allowances 505 Transporatation In 510 Inventory Change 520 Advertising Expense 530 Sales Salaries Expense 532 Supplies Expense 540 Office Salaries Expense 550 Utilities Expense 555 Insurance Expense 560 Professional Fees Expense 570 Depreciation Expense 580 Interest Expense Debit 88,450 195,613 256,250 3,252 3,500 7,500 175,285 Credit 24,260 72,555 220,000 211,144 998,250 5,145 1,500 556,800 1,200 4,580 1,000 88,600 124,500 8,594 3,000 6,840 1,528,909 1,528,909 Adjusting items: 1. The remaining prepaid insurance at year end is $3,000 2. A physical inventory shows supplies on hand of $2,000 at year end 3. The prepaid rent of $7,500 covers January 2015 rent 4. Depreciation on equipment is $12,000 for the year 5. At year end sales salaries of $3,000 were earned but unpaid 6. At year end office salaries of $4,000 were earned but unpaid 7. A physical inventory of merchandise on hand totals $220,850. Do the following requirements below. Create proper headings for each statement. 1. Record adjusting journal entries from information above. It is possible that an item may not require an entry 2. Prepare an adjusted trial balance including the adjusting entries made 3. Prepare a classified income statement. Supplies is a sales expense. 4. Prepare a statement of retained earnings 5. Prepare a classified balance sheet 6. Prepare closing journal entries Account # Account Title debit credit Compute the ending inventory using the perpetual inventory method for both LIFO and FIFO below: units 1-Jan Beginning inventory 14-Jan Bought 5-Feb Sold 22-Feb Bought 7-Mar Sold 15-Mar Sold 5-Apr Bought 10-Apr Sold 12-Apr Sold 22-Apr Sold 4-May Sold 10-May Bought 25-May Sold price 3,500 $ 1,500 $ 1,000 2,000 $ 1,500 2,000 1,000 $ 800 800 500 600 2,000 $ 500 FIFO (scroll down for LIFO entry area) Purchased Date units cost 1-Jan 3.00 3.15 3.20 3.25 3.30 Sold total units cost total Balance units cost 3500 $ 3.00 $ total 10,500.00 Balance units cost total 3500 $ 3.00 $ 10,500.00 LIFO Date units 1-Jan Purchased cost total units cost Sold total