• Assume that Marbles Companys reporting year-end is December 31, 2021, that Marbles has 10,000 shares of no-par common stock issued and outstanding for the entire year (that is, there was no issuance of common stock for Marbles for 2021), and that Marbles paid $5,000 in dividends during the year. Please insert $5,000 in Dividends into the adjusted trial balance and adjust the balance in Retained Earnings to $25,000. Also, treat $35,000 of the Notes Payable balance and all the Interest Payable balance as current, with the remaining $15,000 of Notes Payable as long-term.

• Create Marbles Income Statement and Statement of Stockholders Equity for the year ended December 31, 2021, and Balance Sheet at December 31, 2021.

• Create a T account for Retained Earnings and then write out the closing entries for Marbles for 2021 on 2 column paper. Post the amounts from the closing entries into the R/E T account and draw off the balance in the account after all the temporary accounts are closed.

• Create Marbles post-closing trial balance as of December 31, 2021.