Given the info above please:

1. Prepare the journal entries for the transactions including any adjusting journal entries for the month of May 31, 2023.
2. Prepare an adjusted trial balance as at May

31, 2023.

1. Prepare the multistep Income Statemnet for the month of May 2023. Ignore income taxes.
2. Prepare a classified Balance Sheet at May 31.
3. Assume Black Widow Corporation overstated its ending inventory by $1210. How does this affect cost of goods sold, gross profit, and the net income for the following year?
4. Assume that Black Widow Corporation used the LCNRV to report the inventory on the balance sheet. The NRV of $660 is less than the FIFO cost. Prepare the journal entry.

to local businesses and schools. On May 1, 2023,

please help ASAP! e

Black Widow Corporation is a small private corporation that solls desklop printers to local businesses and schools. On May 1,2023 , the following were the account balances of Black Widow Corporation: During May 2023, the following transactions took place: May 1: Bought 220 desktop printers for $209 each on account. May 1: Bought a van, paying $11550 cash as a down payment and signed a 10 month $44000,9% note payable for the balance. The company paid $660 to have its company logo printed on the side of the van. The residual value is $8600. The old van was sold for $6050; it cost $49500 and acculumated depreciation up to the date of dispesal was $44000. May 10: Sold 110 printers to Groot Inc. on account. May 12: Quinn Worldwide agreed to sign a 00-day note recelvable to replace a $2200 accounts recelvable due that day, The interest rate on the note is 7 . F\%. May 20: Scld 12 printers to Huk Inc. using a VISA card to pay for the transaction. A 4.95% service fee is chargod by VISA. May 22: Sold 105 printers to Stove Rogers Public School on acoount. May 24: Returned for credit 3 damaged printers from Groot Inc., oosting $231 each. May 28: Recolved payment in full from Groot inc. for tha balance owing. May 28: Wrote off as uncollectable $3630 of accounts recelvable. May 29: Pald aceounts payable, $9600. May 30: Recovered an accounts receivable that was written off in April. S825. May 31: Paid operating expenses totalling $50050. May 31: Recorded depreciation on the van and the furniture \& fixtures. The company uses straight-ine depreciation for the van. The van is estimated to be used fo 9 years. The furniture 8 fotures are depreciated using the straight-line method over 6 years. There is no residual value on the fumiture and fixtures. May 31: Recorded interest on the note payable. May 31: Recorded interest on the notes receivable. May 31: The compeny records the bed debt expense based on the aging of accounts receivables, which follows: Other Information: 1) The selling price for each of the printers is $495. 2) Black Widow Corporation uses the FIFO method under the perpetual inventory system to acoount for irventory. 3) in the past, Black Widow Corporation has used the following acoounts on their financial statements: Bad Debt Expense, Cost of Goods Sold, Credit Card Fee, Depreciation Expense, Gain on Sale, Interest Expense, Interest Payable, Interest Receivable, Interest Revenue, Loss on Sale, Notes Payable, Notes Recelvable, Operating Expenses, Sales Returns, Sales Revenue. Not all accounts have been used each period