LTU Plus Inc. is owned and operated by Dr$.$ Plus$-$minus, the sole stockholder. During May $20$Y$2,$ LTU Plus Inc. entered into the following

transactions:

$$May $1$: Paid $$15,000$ to Landlord Inc. as rent for the use of office space. The rent was paid in advance for six months.

$$May $5$: Paid $$5,200$ for a six$-$month premium for general liability insurance.

$$May $6$: Purchased office supplies for $$5,600$ in cash.

$$May $6$: Purchased additional office supplies for $$2,800$ on account.

$$May $9$: Received $$27,500$ from a customer for services to be rendered aver the next three months, ending on August $9.$

$$May $11$: Paid creditors $$4,000$ on account.

$$May $18$: Borrowed $$25,000$ from a local bank.

$$May $22$: Billed customers $$80,000$ for services provided on account.

$$May $25$: Received $$15,800$ in cash for services provided.

$$May $30$: Paid expenses totaling $$32\mathrm{.}400$ for the month.

$$May $30$: Dr$.$ Plus$-$minus withdrew $$15,000$ from the business for personal purposes.

Additional Adjustments as of May $31,2072$:

$$Insurance expired during May amounted to $51,200.$

Office supplies on hand as of May $31$ were $$2,500.$

$$Depreciation on the building for the month was $$3,000.$

$$Prepaid rent balance as of May $31$ was $$12,500.$

$$Wages owed to employees but not yet paid were $$1,800.$

$$Services provided but not yet billed to customers amounted to $$12,000.$

$$Unearned revenue earned during May from the May $9$ transaction was $$6,500.$

Requirements:

$$Analyze and record each transaction from May $20$Y$2$ as journal entries.

$$Post the adjusted journal entries as of May $31$ using the provided adjustment data.

$$Prepare an adjusted trial balance as of May $31$: $20$Y$2.$

$$Prepare an Income Statement as of May $31,20$Y$2.$