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l' 5. Net income: PFl 4-4A Ledger accounts, adjusting entries, financial statements, and closing entries; optional spreadsheet Lakota Freight Co. (1mm Unadjusted Trial Balance The data needed to determine year-end adjustments are as follows: (a) Supplies on hand at March 31 are 57,500. (b) Insurance premiums expired during year are $1,800. (c) Depreciation of equipment during year is $8,350. id) Depreciation of trucks during year is $6,200. March 31, 20Y4 Account Debit Credit EXCEL iEMPlAiE No. Balances Balances Cash ................................................ 11 12.000 Supplies ............................................ 13 ' 30,000 Prepaid Insurance .................................... 14 3,600 Equipment .......................................... 16 110,000 Accumulated DepreciationEquipment. .. . .. . 17 25,000 Trucks ........................... 5') MM ... N I 18 50,000 Accumulated DepreciationTruck .WY. .l .. 19 15,000 Accounts Payable ............................... 21 4,000 Common Stock .......................... K-l" 31 26,000 Retained Earnings ............... W ........... 32 70,000 Dividends ..... . . . ............... { ............... . 33 15,000 Service Revenue ................... . W? - 41' 160,000 Wages Expense .................... if ............ 51 45,000 Rent Expense ........................................ 53 10,600 Track Expense ....................................... 54 9,000 Miscellaneous Expense ............................... 59 4,800 300,000 300,000 Obi. 2, 3 The unadjusted trial balance of Lakota Freight Co. at March 51, 20Y4, the end of the year, follows: $51,150