Emily Lee grew up in Vancouver and loves to be a tourist in her own city. In order to make money to pay for university, she opened a walking tour company, Very Vancouver. The following are transactions for the month of May 2017, the first month of operations. May 2 Emily moved $9,550 from her personal bank account to a business bank account at TD Bank. She also invested a laptop worth $1,332 into the business. May 3 Purchased supplies, including a microphone, and brochures for $855 cash. May 4 Purchased a printer for $324 on account. May 5 Purchased a one-year insurance policy for $2,160 cash. May 6 Emily withdrew $214 for a Mothers Day gift. May 8 Interviewed and hired one employee to assist with leading tours. May 10 Emily launched a social media campaign of Very Vancouver on Facebook. As a result, she received $2,125 of cash for future tour bookings. May 15 Led three tours of Stanley Park and received $1,020 cash. May 25 Led four tours of Granville Island, for $1,170. The customers on this tour had prepaid on May 10. The following information is known at May 31, 2017. The laptop has an estimated life of three years. The printer has an estimated life of three years. There are $285 of supplies that are not used. A portion of the insurance policy has expired. Wages of $625 were unpaid and unrecorded. Required 1-a. Prepare journal entries for the May transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 1-b. Prepare the adjusting entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

1-c. Prepare the closing entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) 2. Post the above journal entries to the T-accounts. 3. Prepare a post-closing trial balance.

4. Prepare an income statement and statement of changes in equity for the year ended May 31, 2017. 5. Prepare a classified balance sheet at May 31, 2017. (Be sure to list the assets and liabilities in order of their liquidity.)