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 on December 31, 2023
6. Calculate Capricorn’s earnings per share for 2023.