) Lark Landscaping started operations on Jan 1, 2020. Complete the required Journal Entries for the following Transactions that occurred during the year. Jan 1 John Lark starts a business and invests $50,000 cash in the business. . . . . Jan 1 - Purchased lawn equipment for $12,000. Paid cash. Jan 1 - Paid for a 2 year insurance policy for $24,000. Feb 20-Completed and billed $20,000.00 worth of services to Jay Gee Services. Feb 20-Paid salary expense of $5,000 to workers. Paid in cash (ignore payroll taxes) April 10-Purchased $5,000 of supplies on credit. May 18-Owner took $1,000.00 cash out of the business. May 20-Paid 1,000 in advertising. Paid in cash. May 21 Jay Gee Paid 15,000 of their account balance from Feb 20th work. June 1-Lark paid the $5,000 due for the purchase of supplies on April 10th. June 15-Jay Gee paid the remaining $5,000 balance due to Lark October 8-Completed and billed $18,000 of lawn services to Halie's Harpicade October 18-Paid $8,0000 in salaries to workers (ignore payroll taxes) Nov 12 - Completed and billed 5,000 in services to Carport Services. Dec 18- Equipment was serviced as a cost of $4,000. Was paid on credit. Dec 30- Billed and collected $6,000 in cash for services performed at PJ lagoon. 2) Complete the following Adjusting Entries for Lark Landscaping on 12/31/20. Adjust, as needed, the 2 year insurance that was paid for on Jan 1. Record Depreciation for the lawn equipment based on straight line depreciation. Assume a $2,000 residual value, and a 4 year life. The value of supplies on hand was $3,000 on 12/31/20. Lark completed $1,000 worth of services on 12/30, which had not yet been recorded. Lark will collect the cash in 2021, but the revenue is fully earned in 2020. 3) Compete an Adjusted Trial Balance as of 12/31/2020 (HINT- on a separate piece of paper that does not need to be handed in, make "t" accounts and post each entry in #1 and #2 above. Then determine the balance on each account - With that, you can create an adjusted trial balance) 4) Complete an Income statement, statement of Retained Earning and Balance Sheet based on the Adjusted Trial Balance Sheet Completed in # 3 for Lark Landscaping for 2020. Please use proper format, including proper headings, titles, dates, etc. 5) EXTRA CREDIT-Complete ALL closing entries that are required