financial statements

Use the Adjusted Trial Balance below for the Year Ended December 31, 2019 to complete the Income Statement, Statement of Stockholder's Equity, and Balance Sheet. Statement formats are included on the Exam 3 format document. Written Problem - Journal Entries Using the chart of accounts provided on page 2 of the Exam 3 format document, journalize the following transactions for M4 Engineering for the month of June. Proper journal formatting is required. Not all accounts provided in the chart of accounts will be used. Journalize Transactions Date Transactions 1 Sold 1,000 shares of preferred stock, $50 par, for $60,000. 1 Purchased $15,000 of merchandise inventory by issuing a 120 day, 10% interest paying note. 5 Received the Insurance bill of $2,500 for June insurance coverage. Payment is not due until June 30 7 Recorded services provided to clients on account, $7,500. 15 Sold Merchandise for cash, $5,000. The cost of the goods sold was $3,000. 20 Received payment from clients on account, $1,800 25 Paid employees $6,000 30 Paid cash dividend of $7,500. The dividend was declared and recorded in the month of May. 31 Paic the Insurance bill received on June 5 At the end of June, the following adjustment data were assembled. Journalize Transactions Date Adjustment 31 Accrued 1 month's interest on the note issued on June 1 31 The unadjusted trail balance indicates supplies of $2,750. The actual amount of supplies on hand is $1,000. 31 Depreciation of the Office Equipment is $820 for the month. Exam 3 Online tutoring site assistance may not be used on this assignment. Students found posting this assignment or relying on online solutions will receive a grade of 0 on the exam and may be removed from the course. Problem 1 -Financial Statements (31 pts) Papenter: Tatal Expenst Note: Nostock was insued Page 1