At the end of its first month of operation, Watson Answering Service Inc. has the following unadjusted Trial Balance. Other Data: 1) Insurance expires at the rate of 200 per month; 2) 1,000 of supplies are on hand at August 31; 3) Monthly depreciation on the equipment is 900; and 4) Interest of 500 on the notes payable has accrued during August. Prepare the following to indicate as your illustration of your 7-Step solution: a) Prepare the worksheet showing Account Titles, Trial Balance, Adjustments, Adjusted Trial Balance, Income Statement, and Statement of Financial Position; b) Prepare a classified statement of financial position assuming 35,000 of the notes payable are long-term; and c) Prepare the Closing entries Journal for August 31. Determine the following with the above required tabulation as illustration: Watson Answering Service Inc. August 31, 2014 Trial Balance Debit Credit Cash 5,400 Accounts Receivable 2,800 Supplies 1,300 Prepaid Insurance 2,400 Equipment 60,000 Notes Payable 40,000 Accounts Payable 2,400 Share Capital Ordinary 30,000 Dividends 1,000 Service Revenue 4,900 Salaries and Wages Expense 3,200 Utilities Expense 800 Advertising Expense 400 77,300 77,300