Comprehensive GL Problem 1 (Events from Chapters 1-3) The trial balance of Pacilio Security Services, Inc. as of January 1, Year 3, had the following normal balances: Cash Accounts Receivable Supplies Prepaid Rent Land Accounts Payable Unearned Revenue Salaries Payable Notes Payable Common Stock Retained Earnings $ 8,900 1,500 65 800 4,000 1,050 200 1,200 2,000 8,000 2,815 During Year 3, Pacilio Security Services experienced the following transactions: 1. Paid the salaries payable from Year 2. 2. Paid the balance of $2,000 on the debt owed to the Small Business Government Agency. The loan is interest-free. 3. Performed $32,000 of security services for numerous local events during the year; $21,000 was on account and $11,000 was for cash. 4. On May 1, paid $3,000 for 12 months' rent in advance. 5. Purchased supplies on account for $700. 6. Paid salaries expense for the year of $9,000. 7. Incurred other operating expenses on account, $4,200. 8. On October 1, Year 3, a customer paid $1,200 for services to be provided over the next 12 months. 9. Collected $19,000 of accounts receivable during the year. 10. Paid $5,950 on accounts payable. 11. Paid $1,800 of advertising expenses for the year. 12. Pald a cash dividend to the shareholders of $4,650. 13. The market value of the land was determined to be $5,500 at December 31, Year 3. Adjustments 14. There was $120 of supplies on hand at the end of the year. 15. Recognized the expired rent. 16. Recognized the earned revenue from Year 2 and transaction no. 8. 17. Accrued salaries were $1,000 at December 31, Year 3. Choose the appropriate accounts to be reported on the income statement. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Adjusted Pacilio Security Services, Inc. Income Statement For the Year Ended December 31, Year 3 Revenues Total Revenues Expenses Total Expenses (Trial Balance Changes in SE > Prepare the statement of changes in stockholders' equity for the year ended December 31, Year 3. You will need to determine and enter the accounts and balances to prepare the Statement of Changes in Stockholders' Equity. The unadjusted adjusted, or post-closing balances will appear for each account, based on your selection. Adjusted Pacllio Security Services, Inc. Statement of Changes in Stockholders' Equity For the Year Ended December 31, Year 3 Beginning Common Stock $ 0 Ending Common Stock Beginning Retained Earnings (4,650) (1,835) Ending Retained Earnings Total Stockholders' Equity