Light$-$It$-$Up Company maintains and repairs warning lights, such as those found on radio towers and lighthouses. Light$-$It$-$Up Company prepared the following end$-$of$-$period spreadsheet at August $31,20$Y$5,$ the end of the fiscal year:Light$-$It$-$Up CompanyEnd$-$of$-$Period SpreadsheetFor the Year Ended August $31,20$Y$5$Unadjusted Trial BalanceAdjustmentsAdjusted Trial BalanceAccount TitleDr.Cr$.$Dr$.$Cr$.$Dr$.$Cr$.$Cash$10,00010,000$Accounts Receivable$39,0009,10048,100$Prepaid Insurance$4,3003,1501,150$Supplies$2,7402,180560$Land$98,00098,000$Building$423,000423,000$Accumulated Depreciation$-$Building$205,30012,000217,300$Equipment$106,000106,000$Accumulated Depreciation$-$Equipment$85,1004,40089,500$Accounts Payable$16,00016,000$Salaries and Wages Payable$5,0005,000$Unearned Rent$2,3001,2001,100$Effie Jackson, Capital$229,370229,370$Effie Jackson, Drawing$10,00010,000$Fees Earned$363,4009,100372,500$Rent Revenue$1,2001,200$Salaries and Wages Expense$158,8005,000163,800$Advertising Expense$21,40021,400$Utilities Expense$15,10015,100$Depreciation Expense$-$Building$12,00012,000$Repairs Expense$8,8508,850$Depreciation Expense$-$Equipment$4,4004,400$Insurance Expense$3,1503,150$Supplies Expense$2,1802,180$Miscellaneous Expense$4,2804,280901,470901,47037,03037,030931,970931,970$Required:$1.$Prepare an income statement for the year ended August $31,20$Y$5\mathrm{.}2.$Prepare a statement of owner's equity for the year ended August $31,20$Y$5.$ During the year, Effie Jackson invested an additional $$30,000$ in the business$\mathrm{.}3.$Prepare a balance sheet as of August $31,20$Y$5\mathrm{.}4.$Based upon the end$-$of$-$period spreadsheet, journalize the closing entries$\mathrm{.}5.$Prepare a post$-$closing trial balance.