lowing is the unadjusted trial balance for Yahi Co. on 12/31/XI. Cr. 20,000.00 HW Problem 5.4 -The following is the unadjusted trial Dr. Cash Accounts Receivable 12,000.00 Inventory 20,000.00 Supplies 3,000.00 Prepaid Rent 8,000.00 Equipment 120,000.00 Accumulated Deprec.-Equip. 35,000.00 Accounts Payable 14,000.00 Unearned Revenue 12,000.00 Common Stock 7.000.00 Retained Earnings 49,000.00 Dividends 4,000.00 Gain on Sale 15,000.00 Sales 190,000.00 Sales Discounts 1,000.00 Sales Returns & Allowances 1,000.00 Cost of Goods Sold 65,000.00 Interest Expense 7,000.00 Rent Expense 18,000.00 Salaries Expense 35,000.00 Utilities Expense 8,000.00 Totals 322,000.00 322,000.00 A) Prepare adjusting entries given the following information: Supplies on hand total $1,200. The prepaid rent includes 3 months or $6,000 rent that has expired. iii. The equipment is being depreciated over a 19 year life and has an expected salvage value of $4,005. (No adjustments have been made yet in 20X1). iv. A physical inventory count reveals inventory on hand of $19,500 (the difference between the trial balance amount and actual inventory on hand is due to waste, theft, and clerical error) B) Prepare a multi-step income statement for 20X1. Don't forget to adjust the balances to reflect the adjustments from part A