For both Question 1 and 2, thanks!

Beauty Company closes its books at the end of the year. The trial balance on December 31, 2022 before adjustments is as follows: Beauty Company Trial Balance. Additional data on December 31, 2022: (i) Supplies on hand at Dec 31 was $4,000. (ii) Prepaid rent still in force was $40,000. this amount duriaries $15,000 (v) The "Note payable" in the Trial Balance of $60,000 is a one year note interest of 12% p.a. issued on October 1, 2022. Interest will be payable maturity. (vi) Unexpired insurance on December 31, 2022 amounted to $18,000. (vii) The useful life of the Equipment is estimated to be 10 years. Required: (a) Prepare the adjusting entry for each of the above items. Omit narrati dacrrintions. (28 marks) (b) Prepare all necessary closing entries. (15 marks) Question 2 (45 marks) Using the data from Question 1, prepare the followings: (a) Income Statement for the year ended December 31, 2022 (b) Statement of Financial Position at December 31, 2022 (22 marks) (23 marks)