\begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Note Recoivable } \\ \hline Beginning balance & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending balance & & & \\ \hline & & & \\ \hline Beginning balance & & & \\ \hline & & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Inventory } & \\ \hline Beginning balance & 63,000 & & \\ \hline & & & \\ \hline & & & \\ \hline Ending balance & 63,000 & & \\ \hline & & \\ \hline Beginning balance & & \\ \hline & & \\ \hline Office Equipment & \\ \hline En & & \\ \hline Ending balance & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31,2024 , appears below. Post the unadjusted balances and adjusting entries from requirements 1 to 3 into the appropriate T-accounts on this tab. After closing entries are prepared in requirement 5, post the closing entries to the Traccounts on this tab. Note: Select the number of the sojusting entry or "ciosing" in the column next to the amount. Prepare a post-closing trial balance. Required: 1 to 3 . First, post the unadjusted balances from the unadjusted trial balance that was given and the adjusting entries that were made in Probiem 2-3 into the appropriate T-accounts (on the T-eccounts tab). Then prepare an adjusted trial balance. 4-a. Prepare an income statement for the year ended December 31, 2024. Assume that no common stock was issued during the yeaf and that $7,000 in cash dividends were paid to shoreholders during the year. 4-b. Prepare a statement of shareholders' equity for the year ended December 31, 2024. Assume that no common stock was issued during the year and that $7,000 in cash dividends were paid to shareholders during the year. 4-c. Prepare a classified balance sheet as of December 31, 2024. Assume that no common stock was issued during the year and that $7,000 in cash dividends were poid to shareholders during the year. 5. Prepare closing entries and post to the T-accounts (on the T-accounts tab). 6. Prepare a post-closing trial balance. \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Retained Earnings } & \\ \hline & & & \\ \hline & & & \\ \hline Ending balance & & & \\ \hline & & & \\ \hline Beginning balance & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending balance Revenue & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular} Post the unadjusted balances and adjusting entries into the appropriate T-accounts (on the T-accounts tab). Then prepare an adjusted trial balance. Note: Do not round intermediate calculations. Round your final answers to nearest whole dollar. Prepare a classified balance sheet as of December 31, 2024. Assume that no common stock was issued during the year and that $7,000 in cash dividends were paid to shareholders during the year. Note: Amounts to be deducted should be indicated by a minus sign. \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Accounts Payable } \\ \hline Beginning balance & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending balance & & & \\ \hline & Note Payable & \\ \hline Beginning balance & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{3}{|c|}{ Salaries Payable } \\ \hline Beginning balance & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending balance & & & \\ \hline \end{tabular} Deferred Sales Revenue Beginning balance Prepare an income statement for the year ended December 31, 2024. Assume that no common stock was issued during the year and that $7,000 in cash dividends were paid to shareholders during the year. Note: Other expenses should be indicated with a minus sign. Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $11,500. 2. Employee salaries are paid twice a month, on the 22 nd for salaries earned from the ist through the 15 th, and on the 7 th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from Decembet 16 through December 31,2024 , were $1,550. 3. On October 1, 2024, Pastina borrowed $53,000 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years. 4. On March 1, 2024, the company lent a supplier $23,000, and a note was signed requiring principal and interest at 8% to be paid on February 28,2025. 5. On April 1, 2024, the company paid an insurance company $9,000 for a one-year fire insurance policy. The entire $9,000 was debited to prepaid insurance at the time of the payment. 6.$920 of supplies remained on hand on December 31,2024. 7. The company recelved $3,500 from 2025. Pastina credited deferred sale's revenue at the time cash was received. 8 . On December 1,2024,$2,500 rent was paid to the owner of the building. The payment represented rent for December 2024 and January 2025 at $1,250 per month. The entire amount was debited to prepaid rent at the time of the payment. \begin{tabular}{|l|c|l|l|} \hline \multicolumn{3}{|c|}{ Rent Expense } \\ \hline Beginning balance & & & \\ \hline & & & \\ \hline Ending balance & 0 & & \\ \hline & & & \\ \hline Beginning balance & Interest Expense & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending balance & & \\ \hline & & \\ \hline & & \\ \hline \end{tabular} \begin{tabular}{|l|c|l|l|} \hline \multicolumn{3}{|c|}{ Depreciation Expense } \\ \hline Beginning balance & & & \\ \hline & & & \\ \hline & & & \\ \hline Ending balance & 0 & & \\ \hline & & & \\ \hline & Supplies Expense & \\ \hline Beginning balance & & & \\ \hline & & & \\ \hline & & & \\ \hline E & & & \\ \hline Ending balance & 0 & \\ \hline \end{tabular} \begin{tabular}{|l|l|l|l|} \hline \multicolumn{4}{|c|}{ Advertising Expense } \\ \hline Beginning balance & & & \\ \hline & & & \\ \hline \end{tabular} Prepare closing entries and post to the T-accounts (on the T-accounts tab). Note: If no entry is required for a particular transaction, select "No journal entry required" in the first account field. \begin{tabular}{|l|r|r|r|} \hline Depreciation expense & & 11,500 & \\ \hline Supplies expense & & 4,680 & \\ \hline Insurance expense & & 6,750 & \\ \hline Advertising expense \& & 4,500 & \\ \hline & & \\ \hline & & \\ \hline Total operating expenses & & 63,130 \\ \hline & & & 12,870 \\ \hline Other income (expense): & & & \\ \hline Interest revenue & & & \\ \hline Interest expense & & (1,533 & \\ \hline Net income & & & \\ \hline \end{tabular}