Financial statements and closing entries Obj. 1 - Describe the flow of accounting information from the unadjusted trial balance into the adjusted trial balance and financial statements., 2 - Prepare financial statements from adjusted account balances., 3 - Prepare closing entries. Last Chance Company offers legal consulting advice to prison inmates. Last Chance prepared the end-of-period spreadsheet that follows at June 30,2018 , the end of the fiscal year. Instructions 1. Prepare an income statement for the year ended June 30. 2. Prepare a retained earnings statement for the year ended June 30 . 3. Prepare a balance sheet as of June 30 . 4. On the basis of the end-of-period spreadsheet, journalize the closing entries. 5. Prepare a post-closing trial balance