es Review View Help Editing v A B I U Ov A v A, SvEvv DUE DATE: 11 pm E.S.T. on OCTOBER 21, 2021 Marmidan Mold Shop Inc. designs and builds molds for the automotive and aircraft industries. The account balances in the company's general ledger on January 1, 2020 (first day of the new annual fisca year) were as follows (all account balances are in their normal position): Cash $ 3,700 Accounts receivable 5,900 Supplies inventory 29,300 Land 168,500 Buildings 116,500 Accumulated depreciation, buildings 37,500 Equipment 58,500 Accumulated depreciation, equipment 18,000 Accounts payable 25,200 Income tax payable 16,600 Interest payable 4,200 Wages payable (due in 2020) 15,700 9% Notes payable ($10,000 due June 30, 2021, balance due June 30, 2022) 61,500 Common shares 151,500 Retained earnings, Dec. 31, 2019 52,200 Transactions during 2020: 1. The company provided sales services on credit to customers for $ 210,300. In addition, the company generated cash (non-credit) sales to customers of $ 62,300. 2.Accounts receivable from customers of $ 15.600 remain to be collected at December 31, 2020 U ... YEYEV Transactions during 2020: 1. The company provided sales services on credit to customers for $ 210,300. In addition, the company generated cash (non-credit) sales to customers of $ 62,300. 2.Accounts receivable from customers of $ 15,600 remain to be collected at December 31, 2020. 3.Inventory of $ 62,900 was purchased from suppliers on credit and debited to the supplies inventory account. 4. Minor parts were purchased with cash for $ 7,400 and debited to the supplies inventory account. 5. Wages payable at the beginning of 2020 were paid early in 2020. In addition, wages were earned by employees and paid during 2020 in the amount of $ 112,000. 6. Income tax payable at the beginning of 2020 was paid early in 2020. 7 Payments of $ 73,000 were made to creditors in 2020 for supplies previously purchased on credit. 8. One year's interest at 9% for the 12 months ended June 30, 2020 was paid on the notes payable on July 1, 2020. 9. During 2020, Don Tallint the principal shareholder, purchased a new car for his wife Debbie. The new car cost $ 45,000 and was paid for with cash from personal sources. 10.Property taxes were paid on the land and buildings in the amount of $ 17,000 with cash. 11 Dividefids were declared and paid in caah in the amount of $ 7,200. Information available for year end adjusting entries: 12. Supplies inventory was counted on December 31, 2020 and it was determined the supplies inventory still on hand at yearend was $ 31,900. 13. Annual depreciation on the buildings is $ 6,000. 14 Annual deprecation on the equipment is $ 5,500 15 Additional wages of $4,000 were earned but are unpaid and unrecorded at December 31, 2020. 16Interest for six months at 9% per year on the notes payable is unpaid and unrecorded at December 31, 2020. 17.Income taxes of $ 16,500 on the company's profit for 2020 were unpaid and unrecorded at December 15 Additional wages of $4,000 were earned but are unpaid and unrecorded at December 31, 2020, 16-Interest for six months at 9% per year on the notes payable is unpaid and unrecorded at December 31, 2020 17.Income taxes of $ 16,500 on the company's profit for 2020 were unpaid and unrecorded at December 31, 2020 Required: 1 Record beginning 2020 beginning balances in T accounts. Prepare journal entries for transactions I to 11 above as required and record the journal entries in Taccounts while adding any new T accounts that you need as you complete this task 2. Prepare any necessary adjusting journal entries for items 11 to 17 above and record the adjusting journal entries in the T accounts while adding any new Taccounts that you need as you complete this task 3. Prepare a single step income statement for Marmidan Mold Shop Inc. for the year ended December 31 2020 from your T accounts 4. Prepare a statement of retained earnings for Marmdan Mold Shop Ine for the year ended December 31 2020 from your Taccounts 5 Prepare a classified statement of financial position for Marmdan Mold Shop Inc as at December 31 2020 from your Taccounts 6 SUBMIT USING EXCEL ALL YOUR JOURNAL ENTRIES AND YOUR INCOME