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 thefiscal year:

Beacons CompanyEnd-of-Period SpreadsheetFor the Year Ended December 31, 20Y5Unadjusted Trial BalanceAdjustmentsAdjusted Trial BalanceAccount TitleDr.Cr.Dr.Cr.Dr.Cr.Cash10,00010,000Accounts Receivable38,700(a) 9,20047,900Prepaid Insurance4,400(b) 3,2501,150Supplies2,800(c) 2,180620Land98,00098,000Building401,000401,000Accumulated Depreciation-Building205,300(d) 13,000218,300Equipment101,000101,000Accumulated Depreciation-Equipment85,100(e) 4,60089,700Accounts Payable15,70015,700Salaries and Wages Payable(f) 5,0005,000Unearned Rent2,200(g) 1,500700Common Stock85,00085,000Retained Earnings117,390117,390Dividends10,00010,000Fees Earned363,300(a) 9,200372,500Rent Revenue(g) 1,5001,500Salaries and Wages Expense158,800(f) 5,000163,800Advertising Expense21,20021,200Utilities Expense15,10015,100Depreciation Expense-Building(d) 13,00013,000Repairs Expense8,9508,950Depreciation Expense-Equipment(e) 4,6004,600Insurance Expense(b) 3,2503,250Supplies Expense(c) 2,1802,180Miscellaneous Expense4,0404,040873,990873,99038,73038,730905,790905,790Required:

1.construct 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.construct 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.Construct 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.construct a post-closing trial balance.