I provided everything needed.. Please help me with the statement of owners equity & balance sheet! Thanks in advance!

of May 1, 2019 (unless otherwise indicated), are as follows Palade merchandising business that uses the perpetual inventory system. The account balances for Palisade Creek Co. 110 C $3.00 112 Merts Receivable 233.00 115 Merchandise Inventory 64,400 116 med hensive 20,000 117 Preturn 118 Store Supplies 11,400 123 ore tuomet 11 en Derein-Store 56,700 120 m 210 CM 16.00 311 Camerunde 1, 2018 310 311 Toy, Cape , Downs SOOD 2,823,000 510 Cost of Merchandise Sold 53 Stanes 22 Depren per Suoleste Sing pense 330 cm Sites perte en twee 30.10 33,700 339 M an Aditive Expense 7.00 Partising the water , enter the b est of the account the r ate balance como funco conte nce in the machin, and place a check mark in the posting Herence an post to the extending the month and ces to the arropriate balance sumnswer all posting is completed in this problem, you are not required to update Pan e l to the need you create cond yes Tore compound to be do e werk weer Punto 1.000 3,000 eBook Calculator Print Item May 1: Paid rent for May, $5,000. Description Post. Ref. Debit Rent Expense 5,000 Credit 5,000 Cash May 3: Purchased merchandise on account from Martin Co., terms 2/10, n/30, FOB shipping point, $36,000. Description Post. Debit Credit Merchandise Inventory 36,00 Accounts Payable-Martin Co. 36,00 May 4: Paid freight on purchase of May 3, $600. Description Post. Debit Rel. Credit Merchandise Inventory 600 600 Cash May 6: Sold merchandise on account to Korman Co., terms 2/10, n/30, FOB shipping point, $68,500. The cost of the merchandise sold was $41,000. Description Post. Debit Ref. Credit Accounts Receivable-korman Co. 68,50 68,50 Sales Cost of Merchandise Sold Merchandise Inventory 41,00 41,00 May 7: Received $22,300 cash from Halstad Co. on account. Description Post Debit Credit Accounts Receivable-Halstad Co. eBook Chiudi May 10: Sold merchandise for cash, $54,000. The cost of the merchandise sold was $32,000. Description Post. Debit Ref. Credit Cash 54,00 54,00 Sales 32,00 Cost of Merchandise Sold Merchandise Inventory 32,00 May 13: Paid for merchandise purchased on May 3. Post. Debit Description Credit Ref. Debit Credit 36,00 Accounts Payable-Martin Co. Cash 35,28 May 15: Paid advertising expense for last half of May, $11,000. Credit Description Advertising Expense Cash Debit 11,00 11,00 May 16: Received cash from sale of May 6. Description Post. Debit Credit Cash 67,13 Accounts Receivable-Korman Co 68,50 May 19: Purchased merchandise for cash, $18,700. Description Ref. Merchandise Inventory 18,70 Post. Debit Credit May 10: Purchased merchandise for cash, $16.700 Post. Debit Description Credit 8.70 on account Post Debit Credit May 10: Pad 33.450 to Buttons Description Accounts Payable-tutta 33,45 chandise was $12.500, and the cost of the returned merchandise was $8.000 May 20: Paid Karman C a cash refund of $13,230 for returned merchandise from sale of May 6. The ince amount of the Description Bet. Debit Credit Customers and Payable 1 3,2) Cash 5,000 Cash of Merchandise Sold O Oth p o nt. 5110,000. The cost of the merchandise old was $70,000 ent $110.000 Hey Sad merchandise on to Crescent Com Tema 1/10, 1/10, Description on sale front, Mayor the Calculator Print Item eBook May 21: For the convenience of Crescent Co., paid freight on sale of May 20, $2,300, Post. Debit Credit Description 2,300 Accounts Payable-Crescent Co. Cash 2,300 May 21: Received $42,900 cash from Gee Co. on account. Post. Debit Description Credit Ref. Cash 42,901 Accounts Receivable-Gee Co. 42,901 May 21: Purchased merchandise on account from Osterman Co., terms 1/10, n/30, FOB destination, $88 000. Post. Debit Description Credit Ref. 88,001 Merchandise Inventory Accounts Payable-Osterman Co. 88,00 May 24: Returned damaged merchandise purchased on May 21, receiving a credit memo from the seller for $5,000. Description Debit Credit Ref. Accounts Payable-Osterman Co. 5,000 Merchandise Inventory 5,000 May 26: Refunded cash on sales made for cash, $7,500. The cost of the merchandise returned was $4,800. Post. Debit Credit Ref. Description Customers Refunds Payable Cash Merchandise Inventory 7,500 7,500 4,800 May 28: Paid sales salaries of $56,000 and office salaries of $29,000. Post. Debit Credit Description Ref. Sales Salaries Expense 56,00 Office Salaries Expense 29,00 85,00 Cash May 29: Purchased store supplies for cash, $2,400. Description Post. Ref. Debit Credit Store Supplies 2,400 Cash 2,400 May 30: Sold merchandise on account to Turner Co., terms 2/10, 1/30, FOB shipping point, $78,750. The cost of the merchandise sold was $47.000. Description Post. Debit Credit Ref. Accounts Receivable-Turner Co. 78,75 78,75 Sales 47,00 Cost of Merchandise Sold Merchandise Inventory 47,00 May 30: Received cash from sale of May 20 plus freight paid on May 21 Post. Debit Description Credit 111,20 Cash 112,3 Accounts Recevable-Crescent Co. May 31: Paid for purchase of May 21, less return of May 24 Description Post. Debit Credit May 29: Purchased store supplies for cash, $2,400. Description Post. Ref. Debit Credit Store Supplies 2,400 Cash 2,400 May 30: Sold merchandise on account to Turner Co., terms 2/10, n/30, FOB shipping point, $78,750. Th Post. Dani Description Debit Credit Ref. Accounts Receivable-Turner Co. 78,75 Sales 78,75 Cost of Merchandise Sold 47,00 Merchandise Inventory 47,00 May 30: Received cash from sale of May 20 plus freight paid on May 21. Description Debit Credit Cash 111,21 Accounts Receivable-Crescent Co. 112,3 May 31: Paid for purchase of May 21, less return of May 24. Description Post. Debit Ref. Credit Accounts Payable-Osterman Co. Cash 82,121 82,12 Comprehensive Problem 2 Part 3: NOTE: You must complete parts 1 and 2 before completing part 3. Prepare an unadjusted trial balance. If an amount box does not require an entry, leave it blank. Palisade Creek Co. Unadjusted Trial Balance May 31, 2019 Debit Credit Balances Balances Cash 83,600 Accounts Receivable 233,900 Merchandise Inventory 624,400 Estimated Returns Inventory 28,000 Prepaid Insurance 16,800 Store Supplies 11,400 Store Equipment 569,500 Accumulated Depreciation- 56,700 Store Equipment Accounts Payable 96,600 Customer Refunds Payable 50,000 Salaries Payable Lynn Tolley, Capital 685,300 Lynn Tolley, Drawing 135,000 Sales 5,069,00 Cost of Merchandise Sold 2,823,00 Sales Salaries Expense 664,800 Advertising Expense 281,000 Depreciation Expense Store Supplies Expense Miscellaneous Selling Expense 12,600 Credit Balances Debit Balances 83,600 233,900 Cash Accounts Receivable 624,400 28,000 16,800 11,400 569,500 56,700 96,600 50,000 Merchandise Inventory Estimated Returns Inventory Prepaid Insurance Store Supplies Store Equipment Accumulated Depreciation- Store Equipment Accounts Payable Customer Refunds Payable Salaries Payable Lynn Tolley, Capital Lynn Tolley, Drawing Sales Cost of Merchandise Sold Sales Salaries Expense Advertising Expense Depreciation Expense Store Supplies Expense Miscellaneous Selling Expense Office Salaries Expense Rent Expense 685,300 135,000 5,069,00 2,823,00 664,800 281,000 12,600 382,100 83,700 Insurance Expense Miscellaneous Administrative Expense 7,800 5,957,60 5,957,60 Note: You must complete parts 1, 2 and 3 before attempting to complete part 4 and part 6 Part 5 is an optional worksheet 4. At the end of May, the wing adjustment data were assembled. Analyse and use these data to complete Part 6 Merchandise inventory on May $570,000 T rance expired during the 12,000 31 Store supplies on hand on May 4,000 d. Derec h e 14.000 Accrued sales on May 31 Sales salanes $2,000 Offices 5.600 13,600 1. The adjustment for customer returns and Willowances $60,000 for sales and $35,000 to 6. Joure the a n ger. For a compound transaction, c leave it bank Post the adjusting entries to the attached spreadsheet you used in parts 1 and 2 an amount box does not Page 22 Description Post De Credit Adjusting Entries 54,40 Merchandie r y 54,40 12.00 12.00 7,400 3,400 eBook Calculator Print Item 6. Journalize the adjusting entries. For a compound transaction, if an amount box does not Page 22 Date Description Debit Credit Adjusting Entries 2019 May Cost of Merchandise Sold 54,40 Merchandise Inventory 54,40 May Insurance Expense 12,00 Prepaid Insurance 12,00 Store Supplies Expense 7,400 Store Supplies 7,400 May 31 Depreciation Expense 14,00 Accumulated Depreciation Store Equipment 14,00 May 31 Sales Salaries Expense . Office Salaries Expense 7,000 6,600 Salaries Payable 13,60 May sales 6,000 Customer Refunds Payable 6,000 Estimated Returns Inventory 35,00 Cost of Merchandise Sold 35,00 Part 7: You must complete parts 1, 2, 3, 4 and 6 before completing part 7. Part 5 is the optional work sheet. Prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank. Palisade Creek Co. Adjusted Trial Balance May 31, 2019 Debit Credit Balances Balances Cash 83,600 Accounts Receivable 233,900 Merchandise Inventory 570,000 Estimated Returns Inventory 63,000 Prepaid Insurance 4,800 Store Supplies 4,000 Store Equipment 569,500 Accumulated Depreciation- Store Equipment 70,700 Accounts Payable 96,600 Customer Refunds Payable 56,000 Salaries Payable 13,600 Lynn Tolley, Capital 685,300 Lynn Tolley, Drawing 135,000 Sales 5,063,00 Cost of Merchandise Sold 2,842,40 Sales Salaries Expense 671,800 Advertising Expense 281,000 Depreciation Expense 14,000 Store Supplies Expense 7,400 por COMIC COCITICHIC Palisade Creek Co. Income Statement For the Year Ended May 31, 2019 5,063,000 Sales 2,842,400 Cost of merchandise sold 2,220,600 Gross profit Expenses: Selling expenses: Sales salaries expense 671,800 Advertising expense 281,000 Depreciation expense 14,000 Store supplies 7,400 Miscellaneous selling expense 12,600 Total selling expenses 986,800 Administrative expenses: Office salaries expense 388,700 Rent expense 83,700 Insurance expense 12,000 Book Calculator Print Item Sales 5,063,000 Cost of merchandise sold 2,842,400 Gross profit 2,220,600 Expenses: Selling expenses: Sales salaries expense 671,800 Advertising expense 281,000 Depreciation expense 14,000 Store supplies 7,400 Miscellaneous selling expense 12,600 Total selling expenses 986,800 Administrative expenses: Office salaries expense Rent expense 388,700 83,700 12,000 7,800 Insurance expense Miscellaneous administrative expense Total administrative expenses 492,200 Total expenses Net income 1,479,000 741600 Total administrative expenses Total expenses Net income 2. Prepare a statement of owner's equity. Palisade Creek Co. Statement of Owner's Equity For the Year Ended May 31, 2019 3. Prepare a balance sheet. Palisade Creek Co. Balance Sheet May 31, 2019 Assets Current assets: Palisade Creek Co. Balance Sheet May 31, 2019 Assets Current assets: Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: Total liabilities Owner's equity Total liabilities and owner's equity of May 1, 2019 (unless otherwise indicated), are as follows Palade merchandising business that uses the perpetual inventory system. The account balances for Palisade Creek Co. 110 C $3.00 112 Merts Receivable 233.00 115 Merchandise Inventory 64,400 116 med hensive 20,000 117 Preturn 118 Store Supplies 11,400 123 ore tuomet 11 en Derein-Store 56,700 120 m 210 CM 16.00 311 Camerunde 1, 2018 310 311 Toy, Cape , Downs SOOD 2,823,000 510 Cost of Merchandise Sold 53 Stanes 22 Depren per Suoleste Sing pense 330 cm Sites perte en twee 30.10 33,700 339 M an Aditive Expense 7.00 Partising the water , enter the b est of the account the r ate balance como funco conte nce in the machin, and place a check mark in the posting Herence an post to the extending the month and ces to the arropriate balance sumnswer all posting is completed in this problem, you are not required to update Pan e l to the need you create cond yes Tore compound to be do e werk weer Punto 1.000 3,000 eBook Calculator Print Item May 1: Paid rent for May, $5,000. Description Post. Ref. Debit Rent Expense 5,000 Credit 5,000 Cash May 3: Purchased merchandise on account from Martin Co., terms 2/10, n/30, FOB shipping point, $36,000. Description Post. Debit Credit Merchandise Inventory 36,00 Accounts Payable-Martin Co. 36,00 May 4: Paid freight on purchase of May 3, $600. Description Post. Debit Rel. Credit Merchandise Inventory 600 600 Cash May 6: Sold merchandise on account to Korman Co., terms 2/10, n/30, FOB shipping point, $68,500. The cost of the merchandise sold was $41,000. Description Post. Debit Ref. Credit Accounts Receivable-korman Co. 68,50 68,50 Sales Cost of Merchandise Sold Merchandise Inventory 41,00 41,00 May 7: Received $22,300 cash from Halstad Co. on account. Description Post Debit Credit Accounts Receivable-Halstad Co. eBook Chiudi May 10: Sold merchandise for cash, $54,000. The cost of the merchandise sold was $32,000. Description Post. Debit Ref. Credit Cash 54,00 54,00 Sales 32,00 Cost of Merchandise Sold Merchandise Inventory 32,00 May 13: Paid for merchandise purchased on May 3. Post. Debit Description Credit Ref. Debit Credit 36,00 Accounts Payable-Martin Co. Cash 35,28 May 15: Paid advertising expense for last half of May, $11,000. Credit Description Advertising Expense Cash Debit 11,00 11,00 May 16: Received cash from sale of May 6. Description Post. Debit Credit Cash 67,13 Accounts Receivable-Korman Co 68,50 May 19: Purchased merchandise for cash, $18,700. Description Ref. Merchandise Inventory 18,70 Post. Debit Credit May 10: Purchased merchandise for cash, $16.700 Post. Debit Description Credit 8.70 on account Post Debit Credit May 10: Pad 33.450 to Buttons Description Accounts Payable-tutta 33,45 chandise was $12.500, and the cost of the returned merchandise was $8.000 May 20: Paid Karman C a cash refund of $13,230 for returned merchandise from sale of May 6. The ince amount of the Description Bet. Debit Credit Customers and Payable 1 3,2) Cash 5,000 Cash of Merchandise Sold O Oth p o nt. 5110,000. The cost of the merchandise old was $70,000 ent $110.000 Hey Sad merchandise on to Crescent Com Tema 1/10, 1/10, Description on sale front, Mayor the Calculator Print Item eBook May 21: For the convenience of Crescent Co., paid freight on sale of May 20, $2,300, Post. Debit Credit Description 2,300 Accounts Payable-Crescent Co. Cash 2,300 May 21: Received $42,900 cash from Gee Co. on account. Post. Debit Description Credit Ref. Cash 42,901 Accounts Receivable-Gee Co. 42,901 May 21: Purchased merchandise on account from Osterman Co., terms 1/10, n/30, FOB destination, $88 000. Post. Debit Description Credit Ref. 88,001 Merchandise Inventory Accounts Payable-Osterman Co. 88,00 May 24: Returned damaged merchandise purchased on May 21, receiving a credit memo from the seller for $5,000. Description Debit Credit Ref. Accounts Payable-Osterman Co. 5,000 Merchandise Inventory 5,000 May 26: Refunded cash on sales made for cash, $7,500. The cost of the merchandise returned was $4,800. Post. Debit Credit Ref. Description Customers Refunds Payable Cash Merchandise Inventory 7,500 7,500 4,800 May 28: Paid sales salaries of $56,000 and office salaries of $29,000. Post. Debit Credit Description Ref. Sales Salaries Expense 56,00 Office Salaries Expense 29,00 85,00 Cash May 29: Purchased store supplies for cash, $2,400. Description Post. Ref. Debit Credit Store Supplies 2,400 Cash 2,400 May 30: Sold merchandise on account to Turner Co., terms 2/10, 1/30, FOB shipping point, $78,750. The cost of the merchandise sold was $47.000. Description Post. Debit Credit Ref. Accounts Receivable-Turner Co. 78,75 78,75 Sales 47,00 Cost of Merchandise Sold Merchandise Inventory 47,00 May 30: Received cash from sale of May 20 plus freight paid on May 21 Post. Debit Description Credit 111,20 Cash 112,3 Accounts Recevable-Crescent Co. May 31: Paid for purchase of May 21, less return of May 24 Description Post. Debit Credit May 29: Purchased store supplies for cash, $2,400. Description Post. Ref. Debit Credit Store Supplies 2,400 Cash 2,400 May 30: Sold merchandise on account to Turner Co., terms 2/10, n/30, FOB shipping point, $78,750. Th Post. Dani Description Debit Credit Ref. Accounts Receivable-Turner Co. 78,75 Sales 78,75 Cost of Merchandise Sold 47,00 Merchandise Inventory 47,00 May 30: Received cash from sale of May 20 plus freight paid on May 21. Description Debit Credit Cash 111,21 Accounts Receivable-Crescent Co. 112,3 May 31: Paid for purchase of May 21, less return of May 24. Description Post. Debit Ref. Credit Accounts Payable-Osterman Co. Cash 82,121 82,12 Comprehensive Problem 2 Part 3: NOTE: You must complete parts 1 and 2 before completing part 3. Prepare an unadjusted trial balance. If an amount box does not require an entry, leave it blank. Palisade Creek Co. Unadjusted Trial Balance May 31, 2019 Debit Credit Balances Balances Cash 83,600 Accounts Receivable 233,900 Merchandise Inventory 624,400 Estimated Returns Inventory 28,000 Prepaid Insurance 16,800 Store Supplies 11,400 Store Equipment 569,500 Accumulated Depreciation- 56,700 Store Equipment Accounts Payable 96,600 Customer Refunds Payable 50,000 Salaries Payable Lynn Tolley, Capital 685,300 Lynn Tolley, Drawing 135,000 Sales 5,069,00 Cost of Merchandise Sold 2,823,00 Sales Salaries Expense 664,800 Advertising Expense 281,000 Depreciation Expense Store Supplies Expense Miscellaneous Selling Expense 12,600 Credit Balances Debit Balances 83,600 233,900 Cash Accounts Receivable 624,400 28,000 16,800 11,400 569,500 56,700 96,600 50,000 Merchandise Inventory Estimated Returns Inventory Prepaid Insurance Store Supplies Store Equipment Accumulated Depreciation- Store Equipment Accounts Payable Customer Refunds Payable Salaries Payable Lynn Tolley, Capital Lynn Tolley, Drawing Sales Cost of Merchandise Sold Sales Salaries Expense Advertising Expense Depreciation Expense Store Supplies Expense Miscellaneous Selling Expense Office Salaries Expense Rent Expense 685,300 135,000 5,069,00 2,823,00 664,800 281,000 12,600 382,100 83,700 Insurance Expense Miscellaneous Administrative Expense 7,800 5,957,60 5,957,60 Note: You must complete parts 1, 2 and 3 before attempting to complete part 4 and part 6 Part 5 is an optional worksheet 4. At the end of May, the wing adjustment data were assembled. Analyse and use these data to complete Part 6 Merchandise inventory on May $570,000 T rance expired during the 12,000 31 Store supplies on hand on May 4,000 d. Derec h e 14.000 Accrued sales on May 31 Sales salanes $2,000 Offices 5.600 13,600 1. The adjustment for customer returns and Willowances $60,000 for sales and $35,000 to 6. Joure the a n ger. For a compound transaction, c leave it bank Post the adjusting entries to the attached spreadsheet you used in parts 1 and 2 an amount box does not Page 22 Description Post De Credit Adjusting Entries 54,40 Merchandie r y 54,40 12.00 12.00 7,400 3,400 eBook Calculator Print Item 6. Journalize the adjusting entries. For a compound transaction, if an amount box does not Page 22 Date Description Debit Credit Adjusting Entries 2019 May Cost of Merchandise Sold 54,40 Merchandise Inventory 54,40 May Insurance Expense 12,00 Prepaid Insurance 12,00 Store Supplies Expense 7,400 Store Supplies 7,400 May 31 Depreciation Expense 14,00 Accumulated Depreciation Store Equipment 14,00 May 31 Sales Salaries Expense . Office Salaries Expense 7,000 6,600 Salaries Payable 13,60 May sales 6,000 Customer Refunds Payable 6,000 Estimated Returns Inventory 35,00 Cost of Merchandise Sold 35,00 Part 7: You must complete parts 1, 2, 3, 4 and 6 before completing part 7. Part 5 is the optional work sheet. Prepare an adjusted trial balance. If an amount box does not require an entry, leave it blank. Palisade Creek Co. Adjusted Trial Balance May 31, 2019 Debit Credit Balances Balances Cash 83,600 Accounts Receivable 233,900 Merchandise Inventory 570,000 Estimated Returns Inventory 63,000 Prepaid Insurance 4,800 Store Supplies 4,000 Store Equipment 569,500 Accumulated Depreciation- Store Equipment 70,700 Accounts Payable 96,600 Customer Refunds Payable 56,000 Salaries Payable 13,600 Lynn Tolley, Capital 685,300 Lynn Tolley, Drawing 135,000 Sales 5,063,00 Cost of Merchandise Sold 2,842,40 Sales Salaries Expense 671,800 Advertising Expense 281,000 Depreciation Expense 14,000 Store Supplies Expense 7,400 por COMIC COCITICHIC Palisade Creek Co. Income Statement For the Year Ended May 31, 2019 5,063,000 Sales 2,842,400 Cost of merchandise sold 2,220,600 Gross profit Expenses: Selling expenses: Sales salaries expense 671,800 Advertising expense 281,000 Depreciation expense 14,000 Store supplies 7,400 Miscellaneous selling expense 12,600 Total selling expenses 986,800 Administrative expenses: Office salaries expense 388,700 Rent expense 83,700 Insurance expense 12,000 Book Calculator Print Item Sales 5,063,000 Cost of merchandise sold 2,842,400 Gross profit 2,220,600 Expenses: Selling expenses: Sales salaries expense 671,800 Advertising expense 281,000 Depreciation expense 14,000 Store supplies 7,400 Miscellaneous selling expense 12,600 Total selling expenses 986,800 Administrative expenses: Office salaries expense Rent expense 388,700 83,700 12,000 7,800 Insurance expense Miscellaneous administrative expense Total administrative expenses 492,200 Total expenses Net income 1,479,000 741600 Total administrative expenses Total expenses Net income 2. Prepare a statement of owner's equity. Palisade Creek Co. Statement of Owner's Equity For the Year Ended May 31, 2019 3. Prepare a balance sheet. Palisade Creek Co. Balance Sheet May 31, 2019 Assets Current assets: Palisade Creek Co. Balance Sheet May 31, 2019 Assets Current assets: Total current assets Property, plant, and equipment: Total property, plant, and equipment Total assets Liabilities Current liabilities: Total liabilities Owner's equity Total liabilities and owner's equity