Cash Assignment2 Principles of Financial Accounting |10 marks Below is the adjusted trial balance of Mubarak Financial Senices Co. as of December 31, 2020: Mubarak Financial Services Co Adjusted Trial Balance At December 11, 2020 Balance Account Title Deb Credit $ 11,000 Accounts Receivable 2.100 Office Supplies 3300 Prepaid Insurance 4.000 Equipment 33.000 Accumulated Depreciation Equipment $7.900 Building 55 800 Accumulated Depreciation-Building 24,000 Accounts Payable 24700 Interest Payable 400 Salanes Payable 3.900 Uhamed Revenge 1.500 Notes Payable long-term 2.800 Common Stock 20,000 Retained Earnings 5.000 Dividends 2.000 Service Revenue 74.800 Insurance Expense 900 Salaries Experte 16300 Supplies Expense Interest Expense Deprecation Expense-Equipment 2.000 Depreciation Experteuilding 1.800 Total 5 165, 100 5 165,100 1500 Required 1. Prepare the closing entries for Mubarak Financial Services Co 15 marks! 2. Compute the balance of Retained Eaming post-doing 12 marks! 3. Classify each of the statement of financial position accounts leasets, liabilities and equity on the above adjusted trial balance into Current assets, property plant and equipment, long-term investments, intangible assets, other assets, current liabilities, long-term labilities and equity 13 marks Put your answer in a table like the one below: Account Classification Currents Accounts Receivable Office Supplies Cash