Completing the accounting cycle from adjusting entries to post-closing trial balance with an optional worksheet The unadjusted trial balance of Williamson Anvils at December 31, 2016, and the data for the adjustments follow: WILLIAMSON ANVILS Unadjusted Trial Balance December 31, 2016 Account Title Cash Balance Debit Credit $ 16,370 16,500 2,530 1,800 29,000 Accounts Receivable Prepaid Rent Office Supplies Equipment Accumulated DepreciationEquipment Accounts Payable Salaries Payable Unearned Revenue Common Stock Retained Earnings $ 10,000 6,600 7,200 16,000 12,000 Dividends 3,500 Service Revenue 20,500 2,600 Salaries Expense Rent Expense Depreciation Expense Equipment Supplies Expense Total $ 72,300 $ 72,300 Adjustment data: a. Unearned Revenue still unearned at December 31, $3,300. b. Prepaid Rent still in force at December 31, $2,400. c. Office Supplies used, $1,200. d. Depreciation, $350. e. Accrued Salaries Expense at December 31, $230. Requirements 1. Open the T-accounts using the balances in the unadjusted trial balance. 2. Complete the worksheet for the year ended December 31, 2016. (optional) 3. Prepare the adjusting entries, and post to the accounts. 4. Prepare an adjusted trial balance. 5. Prepare the income statement, the statement of retained earnings, and the classified balance sheet in report form. 6. Prepare the closing entries, and post to the accounts. 7. Prepare a post-closing trial balance. 8. Calculate the current ratio for the company