At the end of the year, Holister Electric has adjusted Trial balance.

- The expansion into HVAC did not go as planned and had to be discontinued.

- Below is the updated and correct balances taking into consideration the transactions happened during the year (including day-to-day transactions and the transactions above).

- Complete the list by filling in the missing values from the journal entries you created during the year.

*Interest payable, interest receivable ,and interest revenue balances are from the bonds issued and purchased during the year. Interest expense from bank loan are paid within the year.

Assume the tax rate is 27%. Assume income tax has already been paid. You will just have to calculate the income tax expense on the income statement.

Leave Income Tax Expense and Income Tax Savings blank on the Trial Balance until you calculate them on the income statement.

Holister Electric Inc.
Adjusted Trial Balance
December 31, 2021
Account Title				Debit	Credit
Cash				$9,255
Accounts Receivable				$37,600
Interest Receivable
Prepaid Insurance				$19,960
Short-Term Investment - Daenerys Inc.				$76,800
Short-Term Investments - Bonds				$26,400
Valuation Allowance for Fair Value Adjustment
Inventory				$105,200
Investment in Gregor Inc. Common shares
Long-Term Investment - Bond
Discount on Bonds
Property, Plant & Equipment				$270,000
Accumulated Depreciation					$69,000
Accounts Payable					$152,000
Interest Payable
Unearned Revenue					$10,000
Premium on Bonds
Bonds Payable
Bank Loan					$146,000
Common Shares
Preferred Shares
Retained Earnings					$82,560
Interest Revenue
Revenue from Investment in Gregor Inc.
Unrealized Gain on Fair Value Adjustment
Income Tax Savings - Discontinued Operations
Sales Revenue					$777,000
Sales Discounts				$10,400
Sales Returns and Allowances				$19,700
Cost of Goods Sold				$349,650
Depreciation Expense				$40,000
Insurance Expense				$6,600
Interest Expense				$24,074
Loss from Discontinued Operations				$172,000
Maintenance Expense				$25,000
Professional Fees Expense				$9,800
Rent Expense				$48,600
Salaries Expense				$89,200
Telephone Expense				$4,200
Travel Expense				$33,400
Income Tax Expense - Continuing Operations
Unrealized Loss on Fair Value Adjustment
Total				$1,871,101	$1,871,101

Balance out the the trail balance using the above information ??