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ecording Adjusting and Closing Entries and Preparing a Balance Sheet and Income State- ment Including Earnings per Share (AP4-7 LO4-1, 42,4-4 uch a small service company, keeps its records without the help of an accountant. After m effort, an outside accounting period on December 31: accountant prepared the following unadjusted trial balance as of the end of the annual Debit Credit Account Titles 42,000 11,600 900 800 19,000 Cash Accounts receivable Supplies Prepaid insurance Service trucks Accumulated depreciation Other assets Accounts payable Wages payable Income taxes payable Note payable (3 years; 10% interest due each December 31) Common stock (5,000 shares outstanding) Additional paid-in capital Retained earnings Service revenue Remaining expenses (not detailed; excludes income tax) Income tax expense 9,200 8,300 3,000 17,000 400 19,000 6,000 61,360 33,360 Totals 115,960 115,960 Data not yet recorded at December 31 included: a. The supplies count on December 31 reflected $300 in remaining supplies on hand to be used in the next year b. Insurance expired during the current year, $800. c. Depreciation expense for the current year, $3,700. d. Wages earned by employees not yet paid on December 3, $640. e. Income tax expense, $5,540. Required 1. Record the acome ttement and a classified balance sheet that include the effects of the preceding Prepare an income five transactions. statement and a classified balance sheet that include the effects of the preceding 2. 3. Record the closing entry