HELP! DUE AT MIDNIGHT! NEED STATEMENT OF CASH FLOWS, CLOSING ENTRIES FOR EXPENSES, SERVICE REVENUE, AND DIVIDENDS! ALSO, NEED CLOSING T ACCOUNTS AND POST CLOSING TRIAL BALANCE!

Colton Enterprises experienced the following events for Year 1, the first year of operation: 1. Acquired $45,000 cash from the issue of common stock. 2. Paid $13,000 cash in advance for rent. The payment was for the period April 1, Year 1, to March 31, Year 2. 3. Performed services for customers on account for $92,000. 4. Incurred perating expenses on account of $40,000. 5. Collected $70,500 cash from accounts receivable. 6. Paid $31,000 cash for salary expense. 7. Paid $32,000 cash as a partial payment on accounts payable. Adjusting Entries 8. Made the adjusting entry for the expired rent. (See Event 2.) 9. Recorded $4,400 of accrued salaries at the end of Year 1. Events for Year 2 1. Paid $4,400 cash for the salaries accrued at the end of the prior accounting period. 2. Performed services for cash of $41,000. 3. Purchased $3,800 of supplies on account. 4. Paid $13,500 cash in advance for rent. The payment was for one year beginning April 1, Year 2. 5. Performed services for customers on account for $108,000. 6. Incurred operating expenses on account of $51,500. 7. Collected $99,000 cash from accounts receivable. 8. Paid $49,000 cash as a partial payment on accounts payable. 9. Paid $32,500 cash for satary expense. 10. Paid a $13,000 cash dividend to stockholders. \begin{tabular}{|c|c|c|} \hline \multicolumn{3}{|c|}{ COLTON ENTERPRISES } \\ \hline \multicolumn{3}{|c|}{ Statement of Cash Flows } \\ \hline \multicolumn{3}{|c|}{ For the Year Ended December 31, Year 2} \\ \hline \multicolumn{3}{|l|}{ Cash flows from operating activities: } \\ \hline \multicolumn{3}{|l|}{ Paid for expenses } \\ \hline \multicolumn{3}{|l|}{ Received from customers } \\ \hline & 0 & \\ \hline Net cash flow from operating activities & & $ \\ \hline Cash flows from investing activities & & 0 \\ \hline \multicolumn{3}{|l|}{ Cash flows from financing activities: } \\ \hline \multirow[t]{2}{*}{ Paid for dividends } & (13,000) & \\ \hline & 0 & \\ \hline Net cash flow from financing activities & & (13,000) \\ \hline Net change in cash & & (13,000) \\ \hline Plus: Beginning cash balance & & 39,500 \\ \hline Ending cash balance & & 26,500 \\ \hline \end{tabular} Journal entry worksheet Record the closure of service revenue. Note: Enter debits before credits. Journal entry worksheet Record the closure of expenses. Note: Enter debits before credits. Journal entry worksheet Record the closure of the dividends account. Note: Enter debits before credits. Post the closing entries for Year 2 to the T-accounts. COLTON ENTERPRISES Post-Closing Trial Balance December 31, Year 2 \begin{tabular}{|l|l|l|l|} \hline Account Titles & Debit & & Credit \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline & & & \\ \hline \end{tabular}