Cash 10,072

Accounts Receivable 29,314

Prepaid Insurance 5,340

Delivery Supplies 14,700

O??ice Supplies 2,460

Land 15,000

Building 196,000

Accumulated DepreciationBuilding 53,400

Trucks 103,800

Accumulated DepreciationTrucks 30,900

O??ice Equipment 15,900

Accumulated DepreciationO??ice Equipment 10,800

Accounts Payable 9,396

Unearned Lockbox Fees 8,340

Mortgage Payable 72,000

Common Stock 100,000

Retained Earnings 28,730

Dividends 30,000

Delivery Service Revenue 283,470

Lockbox Fees Earned 28,800

Truck Drivers Wages Expense 120,600

O??ice Salaries Expense 44,400

Gas, Oil, and Truck Repairs Expense 31,050

Interest Expense 7,200

625,836 6 625, 836

REQUIRED

1. Enter the trial balance amounts in the Trial Balance columns of a work sheet and complete the work sheet using the information that follows. a. Expired insurance, $3,060 b. Inventory of unused delivery supplies, $1,430 c. Inventory of unused office supplies, $186 d. Estimated depreciation on the building, $14,400 e. Estimated depreciation on the trucks, $15,450 f. Estimated depreciation on the office equipment, $2,700 g. The company credits the lockbox fees of customers who pay in advance to the Unearned Lockbox Fees account. Of the amount credited to this account during the year, $5,630 had been earned by August 31. h. Lockbox fees earned but unrecorded and uncollected at the end of the account- ing period, $816 i. Accrued but unpaid truck drivers wages at the end of the year, $1,920 2. Prepare an income statement, a statement of retained earnings, and a balance sheet for the company. 3. Prepare adjusting and closing entries from the work sheet. 4. Can the work sheet be used as a substitute for the financial statements? Explain your answer