Excalibur Corporation sells video games for personal computers. The unadjusted trial balance as of December 31, 2018, appears below. December 31 is the companys fiscal year-end. The company uses the perpetual inventory system. Account Title Debits Credits Cash 80,380 Accounts receivable 25,500 Supplies 0 Prepaid rent 0 Inventory 61,500 Office equipment 77,000 Accumulated depreciationoffice equipment 10,010 Accounts payable 32,100 Salaries and wages payable 4,200 Note payable 30,300 Common stock 105,000 Retained earnings 18,050 Sales revenue 240,000 Cost of goods sold 125,000 Interest expense 0 Salaries and wage expense 46,750 Rent expense 15,800 Supplies expense 2,080 Utility expense 5,650 Totals 439,660 439,660 Cash dividends paid to shareholders during the year amounted to $7,875. Information necessary to prepare the year-end adjusting entries appears below. The office equipment was purchased in 2016 and is being depreciated using the straight-line method over an eight-year useful life with no salvage value. Accrued salaries and wages at year-end should be $6,300. The company borrowed $30,300 on September 1, 2018. The principal is due to be repaid in 10 years. Interest is payable twice a year on each August 31 and February 28 at an annual rate of 10%. The company debits supplies expense when supplies are purchased. Supplies on hand at year-end cost $520. Prepaid rent at year-end should be $1,150. 1. Complete the worksheet below. 2-a. Use the information in the worksheet to prepare an income statement for 2018. 2-b. Use the information in the worksheet to prepare a statement of shareholders equity for 2018. 2-c. Use the information in the worksheet to prepare a balance sheet as of December 31, 2018. 3. Prepare the necessary closing entries assuming that adjusting entries have been correctly posted to the accounts.