b. find the adjusted balance for each column in the tabular summary. Prove that the expanded accounting equation balances.

c. Prepare an income statement and a retained earnings statement for the month of May and a classified balance sheet at May 31.

Total assets Prepare adjustments and P4 3 The Moto Hotel opened for business on May 1, 2017. The Mav transactions resulted 35,860 ain a tabular summary, with May 31 unadjusted balances shown below in the first row. The financial statements $9,000 in the revenue column resulted from Rent Revenue. The $4,300 in the expense column includes Salaries and Wages $3,000, Utilities $800, and Advertising $500. (Lo 2, 3, 4), AP Assets Liabilities Ace. Sup- Prepd. Cash+ plies Insur+ Land +Bldgs. Bldgs. Equip.-Equip Pay.Pay +Pay. Rev. Depr Depr Accts. Int. Wag. Rent Mortg. Com. Retained Earnin Unadi. Bal. 2,500+2.600- 1,800 15.000 ,0000 +16.800 0 4,700+ 0+ 0 3,30036,000+ 60,000+ 9,000 4,300 (AI) (A2) (A3) (A4) (A6) Adj. Bal. Instructions (a) Record adjustments on May 31 that reflect the following data. Include explanations for each adjustment to revenue or expense. 1. Insurance expires at the rate of $450 per month. 2. A count of supplies shows $1,050 of unused supplies on May 31. 3. Annual depreciation is $3,600 on the building and $3,000 on equipment 4, The mortgage interest rate is 6%. (The mortgage was taken out on May 1.) 5. Rental services related to unearned rent of $2,500 have been provided. 6. Salaries of $900 are accrued and unpaid at May 31