Hampton Corporation's balance sheet at December 31, 2011, is presented below. During 2012, the following transactions occurred. On January 1, 2012., Hampton issued 1,200 shares of $40 par, 7% preferred stock for $49,200. On January 1, 2012, Hampton also issued 900 shares of the $10 par value common stock for $21,000. Hampton performed services for $320,000 on account. On April 1, 2012., Hampton collected fees of $36,000 in advance for services to be performed from April 1, 2012, to March 31, 2013. Hampton collected $276,000 from customers on account. Hampton bought $35,100 of supplies on account. Hampton paid $32,200 on accounts payable. Hampton reacquired 400 shares of its common stock on June 1, 2012, for $28 per share. Paid other operating expenses of $188,200. On December 31, 2012, Hampton declared the annual preferred stock dividend and a $1.20 per share dividend on the outstanding common stock all payable on January 15, 2013. An account receivable of $1,700 which originated in 2011 is written off as uncollectible. Adjustment data: A count of supplies indicates that $5,900 of supplies remain mused at year-end. Recorded revenue earned from item 4 above. The allowance for doubtful accounts should have a balance of $3,500 at year end. Depreciation is recorded on the building on a straight-line basis based on a 30-year life and a salvage value of $10,000. The income tax rate is 30%. (Hint: Prepare the income statement up to income before taxes and multiply by 30% to compute the amount.) Instructions (You may want to set up T accounts to determine ending balances.) Prepare journal entries for the transactions listed above and adjusting entries. Prepare an adjusted trial balance at December 31, 2012. Prepare an income statement and a retained earnings statement for the year ending December 31, 2012, and a classified balance sheet as of December 31, 2012