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fix the red parts and show me whats missing on both my income statement and balance sheet please. begin{tabular}{|c|c|c|c|c|} hline multirow[t]{2}{*}{3} & December 31, 202:

fix the red parts and show me whats missing on both my income statement and balance sheet please. image text in transcribed
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\begin{tabular}{|c|c|c|c|c|} \hline \multirow[t]{2}{*}{3} & December 31, 202: Drpreciation Expense & \multirow{2}{*}{\begin{tabular}{l} 0 \\ 0 \end{tabular}} & \multirow[t]{2}{*}{3,670} & \multirow[b]{2}{*}{3,670} \\ \hline & Accumulated Depreciation & & & \\ \hline & & & & \\ \hline \multirow[t]{2}{*}{4} & December 31, 202: Insuranco Expense & 0 & 1,2250 & \\ \hline & Prepaid Insurance & 0 & & 1,2250 \\ \hline \multirow[t]{6}{*}{5} & December 31, 202: Service Revenue & 0 & 51,0000 & \\ \hline & Sales Revenue & 0 & 152,0000 & \\ \hline & Interest Revenue & 0 & 1850 & \\ \hline & Sales Discounts & 0 & & 4800 \\ \hline & Rotainod Eamings & 0 & & 202,7050 \\ \hline & + & & & \\ \hline \multirow[t]{10}{*}{6} & December 31, 202: Retained Earnings & 0 & 71,595 & \\ \hline & Repairs and Maintenance Expense & 0 & & 1,7000 \\ \hline & Insurance Expense & 0 & & 1,225 \\ \hline & Depreciation Expense & & & 3,670 \\ \hline & Supplies Expense & 0 & & 1,8000 \\ \hline & Salaries Expense & 0 & & 37,000 \\ \hline & Interest Expense & 0 & & 3,1000 \\ \hline & Income Tax Expense & 0 & & 15,8000 \\ \hline & Rent Expense & 0 & & 3,7000 \\ \hline & Bad Debt Expense & 0 & & 3,700 \\ \hline \end{tabular} Requirement General Ledger Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1,2025 , for $14,600. They expect to use the Suburban for five years and then sell the vehicle for $5,800. The following expenditures related to the vehicle were also made on July 1, 2025 - The company pays $2,450 to GEICO for a one-year insurance policy - The company spends an extra $5,600 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides - An additional $2,650 is spent on a deluxe root rack and a traller hitch. The painting, roof rock, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22,2025 , the company pays $1,700 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air fiter Answer is not complete. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Post-closing Income Statement Balance Shent \begin{tabular}{|c|c|c|c|} \hline \multicolumn{4}{|c|}{ For the Period Ended December 31, 2025} \\ \hline \multicolumn{4}{|l|}{ Revenues: } \\ \hline Service Revenue & os & 0 & \\ \hline Sales Revenue & 0 & 0 & \\ \hline \multirow[t]{2}{*}{ Sales Discounts } & 0 & 0 & (i1) \\ \hline & & 0 & \\ \hline Net Sales & & 0 & \\ \hline Cost of Goods Sold & 02 & 56,310 & \\ \hline Gross Profit & & & \$ (56,310) \\ \hline \multicolumn{4}{|l|}{ Operating Expenses: } \\ \hline Depreciation Expense & 0 & 22,500 & \\ \hline Supplies Expense & & 0 & \\ \hline Salaries Expense & 0 & 0 & \\ \hline Bad Debt Expense & 0 & 0 & \\ \hline Rent Expense & 0 & 0 & \\ \hline Insurance Expense & 0 & 6,100 & \\ \hline Repairs and Maintenance Expense & 0 & 0 & \\ \hline Total Operating Expenses & & & 28,600 \\ \hline Operating Income & & & (84,910) \\ \hline \multicolumn{4}{|l|}{ Non-Operating Iterns: } \\ \hline Interest Revenue & 2 & & 0 \\ \hline Interest Expense & 0 & & 0 \\ \hline Income Before Income Taxes & & & (84,910) \\ \hline Income Tax Expense & 0 & & 0 \\ \hline Net Income & 0 & & $(84,910) \\ \hline \end{tabular}

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