INSTRUCTIONS: (1) Complete the adjustments section of the worksheet [WS]. Use the following information. (a) On November 1, the company paid 90,000 for a 6-month insurance contract with Assurance Guaranteed. (b) On November 21, the company issued a 90-day 6% note for money borrowed from A1 Loan amounting to 150,000. (c) On November 22, Aim High Trading contracted the company to deliver specialized hardware. The company received 53,600 in advance from Aim High Trading. 23,600 worth of parts have been delivered by month-end. (d) On November 30, the company has earned commissions of 8,000 from Steadfast Faith Company for goods sold on consigment basis. This remains to be uncollected at monthend. (e) On November 30, the company received its utilities bill for the month of November amounting to 23,000. This remains to be unpaid at month-end. (f) On November 30, Store Supplies costing 5,000 were on hand. (g) The company purchased the equipment on July 1, 2022. The equipment was estimated to have a useful life of five years and a residual value of 10% of cost. (h) The company purchased the furniture on July 1, 2022. The furniture was estimated to have a useful life of four years with no residual value. (i) The allowance for doubtful accounts is estimated at 3% of accounts receivable. (j) Based on a physical count, ending inventory was determined to be 130,000. (2) Determine the net income or net loss for November by completing the worksheet [WS]. (3) Prepare a functional form Statement of Profit or Loss for the month ended November 30, 2022 [SPL]. Include any supporting notes to financial statements [NOTES]. Cleaning Services Expense, Insurance Expense, Rent Expense, and Utilities Expense are allocated as follows: Office: 40% Store: 60% (4) Prepare a Statement of Owners Equity for the month ended November 30, 2022 [SOE]. (5) Prepare a report form Statement of Financial Position as of November 30, 2022 [SFP]. Include any supporting notes to financial statements [NOTES]. (6) Journalize and post the adjusting entries on November 30, 2022 using the general journal and the general ledger [GJ and GL]. Use a standard format general ledger. (7) Journalize and post the closing entries on November 30, 2022 using the general journal and the general ledger [GJ and GL]. (8) Prepare a post-closing Trial Balance as of December 1, 2022 [PCTB]. (9) Journalize and post the necessary reversing entries on December 1, 2022 using the general journal and the general ledger [GJ and GL].