Beacons Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Beacons Company prepared the following end-of-period spreadsheet at December 31, 20Y5, the end of the fiscal year:

	Beacons Company
	End-of-Period Spreadsheet
	For the Year Ended December 31, 20Y5
	Unadjusted Trial Balance		Adjustments		Adjusted Trial Balance
Account Title	Dr.	Cr.	Dr.	Cr.	Dr.	Cr.
Cash	10,000				10,000
Accounts Receivable	38,700		(a) 9,200		47,900
Prepaid Insurance	4,400			(b) 3,250	1,150
Supplies	2,800			(c) 2,180	620
Land	98,000				98,000
Building	401,000				401,000
Accumulated Depreciation-Building		205,300		(d) 13,000		218,300
Equipment	101,000				101,000
Accumulated Depreciation-Equipment		85,100		(e) 4,600		89,700
Accounts Payable		15,700				15,700
Salaries and Wages Payable				(f) 5,000		5,000
Unearned Rent		2,200	(g) 1,500			700
Common Stock		85,000				85,000
Retained Earnings		117,390				117,390
Dividends	10,000				10,000
Fees Earned		363,300		(a) 9,200		372,500
Rent Revenue				(g) 1,500		1,500
Salaries and Wages Expense	158,800		(f) 5,000		163,800
Advertising Expense	21,200				21,200
Utilities Expense	15,100				15,100
Depreciation Expense-Building			(d) 13,000		13,000
Repairs Expense	8,950				8,950
Depreciation Expense-Equipment			(e) 4,600		4,600
Insurance Expense			(b) 3,250		3,250
Supplies Expense			(c) 2,180		2,180
Miscellaneous Expense	4,040				4,040
	873,990	873,990	38,730	38,730	905,790	905,790

Required:

1.	Prepare an income statement for the year ended December 31, 20Y5. If a net loss has been incurred, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Use the list of Labels and Amount Descriptions for the correct wording of text items other than account names. You will not need to enter colons (:) on the income statement.
2.	Prepare a statement of stockholders equity for the year ended December 31, 20Y5. During the year, common stock of $25,000 was issued. If a net loss is incurred or dividends were paid, enter that amount as a negative number using a minus sign. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Refer to the Chart of Accounts for exact wording of account titles.
3.	Prepare a balance sheet as of December 31, 20Y5. Fixed assets must be entered in order according to account number. Be sure to complete the statement heading. Refer to the list of Labels and Amount Descriptions for the exact wording of the answer choices for text entries. Refer to the Chart of Accounts for exact wording of account titles. For those boxes in which you must enter subtracted or negative numbers use a minus sign.
4.	Based upon the end-of-period spreadsheet, journalize the closing entries. Refer to the Chart of Accounts for exact wording of account titles.
5.	Prepare a post-closing trial balance.