Award: 50.00 points After the success of the company's first two months. Santana Rey continues to operate Business Solutions. The November 30, 2010unadjusted trio balance of Business Solutions (reflecting its transactions for October and November of 2019) follows No Acolo Debit Credit 101 Cash 19,254 108 Accounts receive 12.018 125 2545 Computer supples 123 Prepodne 2,220 1 Preparert 3.300 163 Ohement 3,000 164 Accued depreciation event Computer equipment 20.000 168 Adopreciation Computer D 201 Accounts payable 0 210 Wages Lineamed serveren Common stock 73.000 315 Retained earrings 310 Dividende 6.800 403 Computer Services reverse 25,650 12 Deprecation Office equipment 0 813 Direction expense-Computer gument 623 expense 2.625 637 Insurance expense O 540 Rentexbente Computer supplies expense 9 656 Advertising ponse 172 670 Mileage expense 704 Miscellaneous expenses 200 684 Repairs expense--Computer Totats 3.08.650 S08.059 Business Solutions had the following transactions and events in December 2012 Dec 2Pad 51.025 cash to Hilde Mol for Business Solutions share of mail advertising costs Paid 5500 cash for minor repairs to the company computer Received 3,90 canon Alex Engineering Co for the received from November 19 Paid cahan Adde for days of work at the rate of $125 per day 14 Notified by Alexis Engineering Cotrat Business Solutions bid of 57.000 on a proposed project has been accepted. Alex's paid a 51.500 cash advance to Business Solutions 15 Purchased $1.1 of computer supplies on credit from Hamis Oro Products 16 Sent a reminder to Gomez Co to pay the fee for services recorded on November 20 Completed a project for La Corporation and received $5.625 cash 22-28 Took the week off for the holidays 28 Received $3,000 cash from Gomez Co on its receivable 29 Reimbursed S. Rey for business automobie mileage (500 miles at $0.32 per mile) 31 The company paid $1.500 cash in 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 5580 soll 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 $125 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 f. Three of the four months prepaid rent have expired. Required: 1. Prepare journal entries to record each of the December transactions and events for Business Solutions 2-a. Prepare adjusting entries to reflect a through 2-b. Post the journal entries to record each of the December transactions from Requirement 1 and adjusting entries from Requirement 2A. A completing Requirement 7. post the closing entries to the general ledger accounts 3. Prepare an adjusted trial balance as of December 31, 2019 4. Prepare an income statement for the three months ended December 31, 2019 5. Prepare a statement of retained earnings for the three months ended December 31, 2019. 5. Prepare a balance sheet as of December 31, 2019. 7. Record the necessary closing entries as of December 31, 2019 and then post the closing entries to the general ledger in Requirement 28 8. Prepare a post-closing trial balance as of December 31, 2019