Capricorn Inc. is a private company reporting under ASPE. Its unadjusted trial balance at its fiscal year end, December 31, 2023 is shown below:

Capricorn Inc. Unadjusted Trial Balance December 31, 2023
	Debit	Credit
Cash	$38,000
Inventory	46,500
Supplies	5,000
Building	600,000
Accumulated depreciation building		120,000
Equipment	330,000
Accumulated depreciation equipment		$66,000
Accounts payable		34,000
Dividends payable		0
Interest payable		0
Income tax payable		0
Unearned revenue		30,600
Bonds payable (maturity date January 1, 2029)		500,000
Preferred shares ($4 noncumulative, 1,000 issued)		40,000
Common shares (120,000 issued)		60,000
Retained earnings		73,000
Cash dividends preferred	0
Cash dividends common	0
Sales		515,000
Cost of goods sold	159,000
Depreciation expense	20,000
Income tax expense	0
Insurance expense	8,200
Interest expense	1,800
Rent expense	32,600
Salaries expense	185,000
Supplies expense	12,500
TOTALS	$1,438,600	$1,438,600

No new shares were issued or reacquired during 2023.

The following transactions have not yet been recorded for 2023: 1. On December 31, 2023, the board of directors declared a total cash dividend of $54,000 2. The bonds were issued at par with a contract interest rate of 4%. Interest is paid semi-annually on July 1 and January 1. 3. The income tax rate for 2023 is 20%

Required: Using a blank MS Excel workbook, answer the following questions:

1. Prepare the adjusting entries required for December 31, 2023 ( 2. Prepare the closing entries for December 31, 2023 3. Prepare an income statement for the year ended December 31, 2023 4. Prepare a statement of retained earnings for the year ended December 31, 2023 5. Prepare a classified balance sheet at December 31, 2023 6. Calculate Capricorns earnings per share for 2023.