Excostur Corporation salle video games for personal computers. The unadjusted trial balances of December 31, 2010, appears Decomes the comparand The compare the EXCALIBUR CORPORATION Unadjusted Trial Balance December 31, 2010 Accountriti Debits Cred Cash 23,360 Accounts receivable 12.500 Supplies 0 Prepaid rent 0 Inventory 05.000 Once equipment 75.000 Accumulated depreciation office equipment 10.000 Accounts payable 24,100 Salaries and we payable 3000 Note payable 20.000 O Interest payable Common stock 60.000 Retained earning 16.050 Sales revenue 100 000 Cost of goods sold 95,000 Interest expense Salaries and we expense Rent expense 14.000 Supplies expense 2.000 Utility expense 0.000 0 Depreciation expense Totals 34510 Additional Information: Information necessary to prepare the year-end adjusting entries appears below 1. 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 2. Accrued salaries and wages at year-end should be $4,500 3. The company borrowed $30,000 on September 1, 2018. The principalis 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% 4. The company debits supplies expense when supplies are purchased. Supplies on hand at year-end cost $500. 5. Prepaid rent at year-end should be $1,000 Required: Complete Excalibur Corporation's 1. Worksheet 2. Income Statement 3. Statement of Shareholders' Equity (Cash dividends paid to shareholders during the year amounted to $8,000.) 4. Balance Sheet 5. Closing Entries KRALURO TO Una De De 2.0 De Arc . 0.000 000 Once De om AD 10.000 2100 3.000 10000 16 Moro Commons 10.000 10,000 100 000 05.000 Coat of goods 5.o 14000 2.000 6.000 9325 Rent expense Suppesexpense Unexpense De con expense Total Net Income Total 345 150 345 150