I just need the closing entries and post closing trial balance for this question.

10:58 Henrietta's Pine Bakery Background You are an Analyst for the professional service firm, FINACC LLP. Your firm specializes in providing a wide variety of internal business solutions for different clients. Given the outstanding feedback you received on your first engagement working for Big Spenders Inc., a Senior Manager in the Financial Advisory group requested your support on a compilation engagement. Additional Information Henrietta's was established in 1963 when it first opened its doors in Dwight, Muskoka on highway 60. Over the past 50 years, there have been four owners and is currently owned by Carine & Geoff Harris who incorporated and took over the store on January 1, 2013. Their sons, Kyle and Nicholas have been an intricate part of the business from dishwashing to head bakers. Henrietta's has grown over the years with the addition of new items all the time, but the "Sticky Buns and Clouds" remain the most popular items amongst the 150 varieties of breads and pastries. Henrietta's runs out of 90 square meters (1,000 share feet) of space. It has one entrance into the bakery and doors leading out to highway 60. Henrietta's pays $5,000 per month for the rental of the space. Carine and Geoff were able to negotiate with the landlord and were not required to pay the first month's rent in advance. All of the rental payments are current and up to date. For the last two years, Henrietta's has had a very reliable accountant Henrietta's has had a very reliable accountant prepare its year-end financial statements and everything has been correct. This year, Henrietta's accountant retired and Geoff did the best he could recording his own financial Information. For the information he was not sure about, he kept all of the required supporting documentation. Geoff hired your firm, FINACC LLP to prepare his financial statements for the year. Geoff supplied you with his unadjusted trial balance and the information in Exhibit I to assist you. Supplementary Information The amount currently sitting in prepaids arose due the insurance policy last year. Geoff didn't know how to correct it, so he left it. This year's insurance policy was purchased on November 1 for $9,000. The policy runs from November 1 to October 31 of each year. Geoff has a note that he owed $900 in wages to his employees for the period ending December 31st. The loan was incurred when the bakery was opened. The loan carried an interest rate of 8%. The interest is payable two months after year end and the principal is due in 2019. Henrietta's will sometimes book special events with small organizations that are allowed to pay after the event has taken place. On December 29th, a small company had a gathering at the bakery. The company was billed $1,089 and has 30 days to pay it. Geoff has not yet recorded this in his financial records. Henrietta's declared a dividend of $5,000 on Damarth Henrietta's declared a dividend of $5,000 on December 30th Geoff didn't know how to record amortization for the year and so left it for you to record. Amortization for all assets is charged using a straight-line method by taking the cost of the asset and dividing it by its expected useful life. The assets have expected useful lives as follows: o Computer: 5 years O Bakery equipment: 10 years O Furniture and fixtures: 20 years The information shows that Henrietta's owes $400 for a telephone bill and $400 for electricity for December. These amounts have not been recorded yet. Exhibiti Henrietta's Pine Bakery Unadjusted Trial Balance December 31, 2015 Account Name Debit Credit Cash $35,000 Accounts Receivable 5,600 Food Inventory 21,000 62,500 Merchandise Inventory Merchandise Inventory 62,500 Prepaids 3,400 Computers 30,000 2,000 Accumulated Amortization - Computers Bakery Equipment 90,000 18,000 Accumulated Amortization - Bakery Equipment Furniture and Fixtures 150,000 15,000 Accumulated Amortization - Furniture and Fixtures Accounts Payable 18,000 Accrued Liabilities Interest Payable Dividend Payable Long-term Loan 220,000 Common Shares Retained Earnings 50,000 22,000 468,500 127,000 Food Revenue Internet Revenue Internet Revenue 127,000 Merchandise Revenue 103,000 Food Expense Internet Expense 240,000 54,000 Electricity Expense 65,000 Telephone Expense 20,000 Interest Expense Salary Expense 200,000 Insurance Expense 9,000 Supplies Expense 8,000 Depreciation Expense- Rent Expense 60,000 1,053,500 1,053,500 Based on the information you have prepare the adjusting journal entries, an adjusting trial balance, the statement of earnings (income statement), statement of financial position (balance sheet), and statement of retained earnings. After you have completed the statements, prepare the closing journal entries and the posting closing trial balance. Ensure you show all of your work, and prepare proper journal entries and properly formatted financial statements Note to students: Issues are hidden within the case. It is your responsibility to read the case facts and identify the critical issues required for discussion and analysis. Evaluation Case Analysis 2 will be marked in its entirety out of 100. The following rubric indicates the criteria students are to adhere to, and their relative weights to the assignment overall. The instructor may also generate a class case discussion, upon which a grade scaling might be deemed appropriate