Carson Hacker is a realtor. He organized the business as a corporation on December 16, 2017. The business received $60,000 cash from Hacker and issued common stock. Consider the following facts as of December 31, 2017 (Click the icon to view the facts.) Requirements 1. Prepare the balance sheet of the real estate business of Carson Hacker Realtor, Inc., at December 31, 2017 2. Does it appear that the realty business can pay its debts? How can you tell? 3. Identify the personal items given in the preceding facts that should not be reported on the balance sheet of the business. Journalize the adjusting entry needed on December 31, the end of the current accounting period, for each of the following independent cases affecting Jackson Corporation. Include an explanation for each entry (Click the icon to view the independent cases.) Requirement 1. Journalize the adjusting entry needed on December 31, the end of the current accounting period, for each of the following independent cases affecting Jackson Corporation. Include an explanation for each entry. (Record debits first, then credits. Select the explanation on the last line of the joumal entry table.) a. Details of the Prepaid Insurance account reveal a January 1 (beginning of the year) debit balance of $2,900 and a debit to the account on March 31 for $3,400 to record the payment of an annual insurance premium. At December 31, $1,200 is still prepaid. Journal Entry Date Accounts and Explanation Debit Credit Dec 31 Insurance Expense b. Jackson pays employees each Friday. The amount of the weekly payroll is $5,900 for a five-day work week. The current accounting period ends on a Monday Journal Entry Date Accounts and Explanation Debit Credit Dec 31