Coronado Company's balance sheet at December 31, 2021, is presented below. CORONADO COMPANY Balance Sheet December 31, 2021 $35,400 Accounts Payable 36,285 Interest Payable Cash $16,225 295 Inventory Prepaid Insurance 7,080 Notes Payable 59,000 a Equipment 44,840 Owner's Capital 48,085 $123,605 $123,605 During January 2022, the following transactions occurred. (Coronado Company uses the perpetual inventory system) 1 2 3 Coronado pald $295 interest on the note payable on January 1, 2022 The note is due December 31, 2023. Coronado purchased $308.098 of inventory on coount. Coronado sold for $519.200 cash, inventory which cost $312.700. Coronado also collected $33,748 in sales tas. Coronado pold $271400 in accounts payabler. Coronado paid $20.060 in sales taxes to the state. Paid other operating expenses of $35.400 on January 31, 2022, the payroll for the month consists of salaries and wages of $86.000 All salaries and wages are subject to 765% FICA taxes. A total of $10540 federal income takes are withheld. The salaries and wages are paid on February 1.. 5 6 Adjustment data: B 9. 10. Interest expense of $295 has been incurred in January on the notes payable. The insurance for the year 2022 was prepaid on December 31, 2021. The equipment was acquired on December 31, 2021, and will be depreciated on a straight-line basis over 5 years with a 52,360 salvage value Employer's payroll taxes include 7.65% FICA taxes, a 5.4% state unemployment tax and an 0.6% federal unemployment tax 11 -75 TII Question 1 of 1 Prepare journal entries for the transactions listed above and the adjusting entries. (Credit account titles are automatically indented When amount is entered. Do not indent manually. Round answers to decimal places, s. 52751 No. Account Titles and Explanation Debit Credit 1. Interest Payable Cash 2. Inventory Accounts Payable 3 Cash Sales Reverso Sales Taxes Payable (To record sales revenue.) Cost of Goods Sold Inventory (To record cost of goods sold.) 4. Accounts Payable Cash 5. Sales Dewi 6 Omer Operating Cast 7. Sanna Wasta -75 Question 1 of 1 7 Salaries and Wages Expense FICA Tes Payable Federal income Taxes Payable Salaries and Wages Payable 8. Interest Expense Interest Payable 9. Insurance cente Prepaid Insurance 10. Deprecation Expense Accumulated Depreciation Equipment 11 Payroll Tax Expense hCATags Pays Start Unimoloyment Payabi Federal Umployment and Payable Textbook and Media List of Accounts Save for late Attempts of 5 used Suitet (b) -75 Question 1 of 1 Prepare an adjusted trial balance at January 31, 2022. Round answers to decimal places 5.275) CORONADO COMPANY Trial Balance January 31, 2022 Debit Credit Cash Inventory Equipment Accumulated Depreciation Equipment Accounts Payable Interest Payable Notes Payable Ownere Capital Swiss Sales Tove PH Cost of Goods Sold Other Operation Sales and W Interest Intrane Expen Debrecen -/5 Question 1 of 1 III Notes Payable Owner's Capital Sales Revenue Sales Taxes Payable Cont of Goods Sold Other Operating Expenses Salaries and Wapes Drone Interest and Insurance Ex Depreciation En Payroll Tax FICAT State Unamtamant Porte Federspas Payable Federal income Taxes Payable Stars and Wages Payable Total 5 e Textbook and Media -75 Question 1 of 1 Prepare an income statement for the month endine January 31, 2022. Round answers to decimal places 23.5.275) CORONADO COMPANY Income Statement For the Month Ended January 31, 2022 Sales Revenue Cost of Goods Sold Other Expenses and losses V be Operating pente v Other Operating Experts Salaries and Wages Expense Interest Expen insurance ESE Deprecation Expense Operating Expenses Total Operating Expenses Notice/Loss) Owner's Capital Owners Capital/3122 e Textbook and Media List of Account Attempts of 5 used Sumit. Awer Suve torte - /5 E Question 1 of 1 (2) Prepare an owner's equity statement for the month ending January 31, 2022. (Round answers to decimal places, es. 5,275.) CORONADO COMPANY Owner's Equity Statement S e Textbook and Media List of Accounts strane Attempts.O of 5 used Submit Answer (63) Prepare a classified balance sheet as of January 31, 2022. (List current assets in order of liquidity Round answers to decimal places, eg. 5.275) CORONADO COMPANY -75 Question 1 of 1 5.275) CORONADO COMPANY Balance Sheet Assets Current Assets S Cash Inventory S Total Current Assets Equipment Accumulated precision $ Tor Current Aosts Liabilities and Owner's Equity $ +75 Question 1 of 1 Total Current Assets Liabilities and Owner's Equity $ $ e Textbook and Media