. Howrath problem: Using the adjusted trial balance in P2.5, complete the following for dass Assume that Howrath Company's reporting year-end is December 31, 2021, that Howrath has 10,000 shares of no-par common stock issued and outstanding for the entire year that is, there was no issuance of common stock for Howrath for 2021), and that Howrath paid $5,000 in dividends during the year. Please insert $5,000 in Dividends into the adjusted trial balance and adjust the balance in Retained Earnings to $25,000. Also, treat $35,000 of the Notes Payable balance and all the Interest Payable balance as current, with the remaining $15,000 of Notes Payable as long-term Create How rath's Income Statement and Statement of Stockholders' Equity for the year ended December 31, 2021, and Balance Sheet at December 31, 2021, in good form (that is, similar to the formatting in the Correctly Formatted Statements for Dress Right file) on either 2 column paper (I/S and B/S) or the stockholders' equity form blank (BB Ch.2 module / Readings, Videos, and Documents folder / Useful Documents subfolder) Create a T account for Retained Earnings and then write out the closing entries for Howrath for 2021 on 2 column paper. Post the amounts from the closing entries into the R/E T account and draw off the balance in the account after all the temporary accounts are closed Create Howrath's post-closing trial balance as of December 31, 2021 Complete the following engagement assignments manually . P 2-5 Adjusting entries LO2-6 Howarth Company's reporting year end is December 31. Below are the unadjusted and adjusted trial balances for December 31 2021 Unadjusted Adjusted Account Title Debits Credits Debits Credits Cash 50,000 50,000 35.000 35.000 2,000 1,200 1,500 800 60,000 60,000 30,000 30,000 -O- 1,500 45.000 45,000 Accounts receivable Prepaid rent Supplies Inventory Notes receivable Interest receivable Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred rent revenue Common stock Retained earnings 15.000 21500 34.000 34,000 6,200 -O- 50,000 50,000 -- 2,500 2,000 --0- 46.000 46,000 20,000 20,000 -O- Common stock 46,000 46,000 Retained earnings 20,000 20,000 Sales revenue 244,000 244,000 Rent revenue 4,000 6,000 Interest revenue 1,500 Cost of goods sold 126,000 126,000 Salaries and wages expense 45,000 51,200 Rent expense 11,000 11,800 Depreciation expense --0- 6,500 Supplies expense 1,100 D 1,800 Interest expense 5,400 7,900 Advertising expense 3,000 3,000 Totals 415,000 415,000 431,700 431,700