Grouper Caru's balance sheet at December 31, 2021, is presented below. GROUPER CORP Balance Sheet December 31, 2021 Cash $29.520 Accounts payable $30.720 Accounts receivable 54,600 Common stock ($10 par) (1800) Retained eamines 96,000 152,880 Allowance for doubtful accounts Supplies 5.280 48.000 Land Buildings 170.400 Accumulated depreciation-buildings 26 400) $279.600 $279.600 Durine 2022, the following transactions occurred. 1 On January 1, Grouper issued 1,440 shares af $40 par, 7% preferred stock for $59,040. 2 On January 1, Grouper also issued 1.080 shares of the $10 par value common stock for $25.200. 3. Grouper performed services for $384.000 on account. 4. On Anril 1,2022, Grouper collected fees of $43,200 in advance for services to be performed from April 1, 2022, to March 31, 2023, 5. Grouper collected $331,200 from customers on account 6. Grouper bought $12,120 of supplies on socount. 7. Grauper said $28,440 an accounts payable. 8. Grouper reacquired 480 shares of its common stock on June 1 for $28 per share. 9. Paid other operating experises of $225,140. 10. On December 31, 2022, Grouper declared the annual preferred stock dividend and a $1.20 per share dividend on the outstanding common stock, all payablc on January 15, 2023 11. An account receivable of $2.040 which orieinated in 2022 is written off as uncollectible. Adjustment data: 1. A count of supplies indicates that $7.00 of supplies remain unused at year-end. 2. Recorded revenue from item 4 above. 3. The allowance for doubtful accounts should have a balance of $4,200 at year end 4. Depreciation is recorded on the building on a straight-line besis based on a 30-year life and a salvage value of $12,000. 5. The income tax rate is 30%.(Hint: Prepare the income statement upto income before taxes and multiply by 20% to compute the amount.) Adjusting entries 5. Prepare an adjusted trial balance at December 31, 2022. GROUPER CORP. Adjusted Trial Balance Debit Credit Total Prepare an income statement. GROUPER CORP. Income Statement $ Prepare a retained earnings statement for the year ending December 31, 2022. (List items that increase retained earnings first.) GROUPER CORP. Statement of Retained Earnings