Hi there - Can I please get some assistance with the very last portion of this question?

Accounting Cycle Review 15 a-e Sandhill Corporation's trial balance at December 31, 2020, is presented below. All 2020 transactions have been recorded except for the items described below. Debit Credit Cash Accounts Receivable $26,500 56,000 23,000 68,000 99.600 33,000 $410 31,500 14,200 19,400 -0- -0- 7,200 50,000 30,000 6,000 Inventory Land Buildings Equipment Allowance for Doubtful Accounts Accumulated Depreciation-Buildings Accumulated Depreciation-Equipment Accounts Payable Interest Payable Dividends Payable Unearned Rent Revenue Bonds Payable (10%) Common Stock ($10 par) Paid-in Capital in Excess of Par-Common Stock Preferred Stock ($20 par) Paid-in Capital in Excess of Par-Preferred Stock Retained Earnings Treasury Stock Cash Dividends Sales Revenue Rent Revenue Bad Debt Expense Interest Expense Cost of Goods Sold Depreciation Expense Other Operating Expenses Salaries and Wages Expense -0- -0- 80,190 -0- -0- 568,000 -0- -0- -0- 401,000 36,300 64,500 Total $806,900 $806.900 Unrecorded transactions and adjustments: 1. On January 1, 2020, Sandhill issued 1,000 shares of $20 par, 6% preferred stock for $22,000. 2. On January 1, 2020, Sandhill also issued 1,200 shares of common stock for $27,600. 3. Sandhill reacquired 320 shares sofi f its common stock on July 1, 2020, for $46 per share. 4. On December 31, 2020, Sandhill declared the annual cash dividend on the preferred stock and a $1.20 per share dividend on the outstanding common stock, all payable on January 15, 2021. 5. Sandhill estimates that uncollectible accounts receivable at year-end is $5,500. 6. The building is being depreciated using the straight-line method over 30 years. The salvage value is $4,100. 7. The equipment is being depreciated using the straight-line method over 10 years. The salvage value is $3,300. 8. The unearned rent was collected on October 1, 2020. It was receipt of 4 months' rent in advance (October 1, 2020 through January 31, 2021). 9. The 10% bonds payable pay interest every January 1. The interest for the 12 months ended December 31, 2020, has not been paid or recorded. (Ignore income taxes.) Your answer is correct. Prepare journal entries for the transactions and adjustment listed above. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit 1. Cash 22000 Paid-in Capital in Excess of Par-Preferred Stock 2000 Preferred Stock 20000 2. Cash 27600 Paid-in Capital in Excess of Par-Common Stock 15600 Common Stock 12000 3. Treasury Stock 14720 Cash 14720 4. Cash Dividends 5856 Dividends Payable 5856 5. Bad Debt Expense 5190 Allowance for Doubtful Accounts 5190 6. Depreciation Expense 3150 Accumulated Depreciation-Buildings 3150 7. Depreciation Expense 2970 Accumulated Depreciation-Equipment 2970 8. Unearned Rent Revenue 5400 Rent Revenue 5400 9. Interest Expense 5000 Interest Payable 5000 Your answer is correct. Prepare an updated December 31, 2020, trial balance, reflecting the joumal entries in part(a). SANDHILL CORPORATION Trial Balance December 31, 2020 Debit Credit Cash 61380 Accounts Receivable 56000 Allowance for Doubtful Accounts 5600 Inventory 23000 Land 68000 Buildings 98600 Equipment 33000 Accumulated Depreciation-Buildings 34650 Accumulated Depreciation-Equipment 17170 Accounts Payable 19400 Interest Payable 5000 Dividends Payable 5856 Unearned Rent Revenue 1800 Bonds Payable 50000 Common Stock 42000 Paid-in Capital in Excess of Par-Common Stock 21600 Preferred Stock 20000 Paid-in Capital in Excess of Par-Preferred Stock 2000 Retained Earnings 80190 Treasury Stock 14720 Cash Dividends 5856 Sales Revenue 568000 Rent Revenue 54001 Bad Debt Expense 5190 Interest Expense 50001 > Cost of Goods Sold 4010001 Depreciation Expense 6120 Other Operating Expenses 363001 II Salaries and Wages Expense 645001 878666 878666 Your answer is correct. Prepare a multiple-step income statement for the year ending December 31, 2020. (List other revenues before other expenses.) SANDHILL CORPORATION Income Statement For the Year Ended December 31, 2020 Sales Revenue 568000 Cost of Goods Sold 401000 Gross Profit/ (Loss 167000 Operating Expenses Bad Debt Expense 5190 Salaries and Wages Expense 645001 Depreciation Expense 6120 Other Operating Expenses 36300 Total Operating Expenses 1121101 Income From Operations 54890 Other Revenues and Gains Rent Revenue 5400 Other Expenses and Losses Interest Expense 5000 4001 Net Income / (Loss) 55290 Your answer is correct. Prepare a retained earnings statement for the year ending December 31, 2020. (List items that increase retained earning first.) SANDHILL CORPORATION Retained Earnings Statement For the Year Ended December 31, 2020 Retained Earnings, January 1 80190 Add V Net Income / (Loss) 55290 135480 Cash Dividends 5856 Retained Earnings, December 31 129624 Your answer is partially correct. Try again. Prepare a classified balance sheet as of December 31, 2020. (List Current Assets in order of liquidity. List Property, Plant and Equipment in order of Land, Buildings and Equipment. Enter account name only SANDHILL CORPORATION Balance Sheet December 31, 2020 Assets Current Assets Cash 61380 Accounts Receivable 56000 Less V Allowance for Doubtful Accounts 5600 504001 Inventory 23000 Total Current Assets 134780 Property, plant and Equipment Land 68000 Buildings 98600 Less V Accumulated Depreciation-Buildings 34650 63950 Equipment 33000 Less V Accumulated Depreciation Equipment 17170 15830 Total Property, plant and Equipment 147780 Total Assets 282560 Liabilities and Stockholders' Equity Current Liabilities Accounts Payable 19400 Interest Payable 5000 Dividends Payable 5856 Unearned Rent Revenue 1800 Total Current Liabilities 32056 Long-term Liabilities Bonds Payable 50000 Total Liabilities 82056 Stockholders' Equity Paid-in Capital Capital Stock Common Stock 42000 Preferred Stock 20000 X 62000 * DO x Less V Treasury Stock 14720 X 200504 282560 Click if you would like to Show Work for this question: Open Show Work