Complete the worksheet for Jay's Supplies in Figure 12.18 (p. 447) b. Prepare an income statement, a statement of owner's equity, and a clas- sified balance sheet. (Note: The amount of the mortgage due the first year is $800.) c. Journalize the adjusting and closing entries 12A-3. a JAY'S SUPPLIES WORKSHEET FOR YEAR ENDED DECEMBER 31, 200X Trial Balance Adjustments Cr Account Titles Cash Accounts Receivable Merch. Inventory, 1/1/XX Prepaid Insurance Equipment Accum. Dep., Equipment Accounts Payable Unearned Training Fees Mortgage Payable P. Jay, Capital P. Jay, Withdrawals Income Summary Dr. Cr. Dr. 200000 300000 11000l00 (B) 10400 00 11 00000 A) 188000 50000 E 340000 108000 40000 D) 5 08000 212000 (C) 32000 120000 1056000 428000 (A) 9580000 1040000(B) 11 0 ololo0 Sales Sales Returns and Allowances 320000 260000 Sales Discount 6360000 Purchases Purchases Returns and Allow. 1360000 Purchases Discount 320000 268000 Freight-In Advertising Expense Rent Expense Salaries Expense 2 140000 1000 000 1360000 13264000 13264000 32000 C Training Fees Earned Dep. Exp., Equipment Insurance Expense (D) 40000 (E)50000 2262000 22620l00