Grith and Givition Asdinonal infornahon for kune not int reconoed Pnten in in cantorrer and recpeded las nonth is noce corpotrted. expenin. expense. o. The prior balance in the unadjusted prepaid insurance account (excluding the insurance in item n. above), shows that $300 of that balance is not yet used. Required: 1. Prepare the adjusting and correcting entries for June. 2. Prepare an adjusted trial balance at June 30, 2016. PROBLEM 3-9 (LO4) Challenge Question - Preparation of Financial Statements Using the adjusted trial balance in PROBLEM 3-8 above: Required: Prepare an income statement, statement of changes in equity and a balance sheet as at June 30, 2016. (Hint: For the balance sheet, also include a subtotal for each asset's book value). PROBLEM 3-10 (LO6) Closing Entries and Post-Closing Trial Balance Required: Using the adjusted trial balance in PROBLEM 3-8 above: 150 Financial Accounting and Adjusting Entries a. Assuming that June 30,2016 , is the year-end, prepare the closing journal entries. b. Prepare a post-closing trial balance at June 30, 2016