Mint Cleaning Inc. prepared the following unadjusted trial balance at the end of its second year of operations ending December 31 Debit Credit $ 38 9 6 80 Account Titles Cash Accounts Receivable Prepaid Insurance Equipment Accumulated Depreciation Accounts Payable Common Stock Retained Earnings Sales Revenue Insurance Expense Salaries and Wages Expense Supplies Expense 9 76 4 80 0 10 26 Totals $169 $169 Other data not yet recorded at December 31: a. Insurance expired during the year, $5. b. Depreciation expense for the year, $4. c. Wages payable, $7. d. Income tax expense, $9. Using T-accounts, determine the adjusted balances in each account and prepare an adjusted trial balance as of December 31. Cash Accounts Receivable Beg. Bal. Beg. Bal. End. Bal. 0 End. Bal. 0 Prepaid Insurance Equipment Beg. Bal. Beg. Bal End. Bal. 0 End. Bal. Accounts Payable Accumulated Depreciation-Equipment Beg. Bal Beg. Bal. End. Bal. End. Bal. Salaries and Wages Payable Income Tax Payable Beg. Bal. Beg. Bal End. Bal. 0 End. Bal. 0 Common Stock Retained Earnings Beg. Bal Beg. Bal End. Bal End. Bal. 0 Sales Revenue Supplies Expense Beg. Bal Beg. Bal End. Bal. End. Bal. 0 Salaries and Wages Expense Depreciation Expense Beg. Bal Beg. Bal End. Bal. 0 End. Bal. 0 Insurance Expense Income Tax Expense Beg. Bal Beg. Bal End. Bal. 0 End. Bal. 0 MINT CLEANING INC. Adjusted Trial Balance Account Titles Debit Credit Totals S 0 $ 0 By what amount would net income have been understated or overstated had the adjusting journal entries not been recorded? Net income by Required: Using the above adjusted balances, prepare an income statement. MINT CLEANING INC. Income Statement 0 0 Required: Using the above adjusted balances, prepare a statement of retained earnings. MINT CLEANING INC. Statement of Retained Earnings Beginning Balance, January 1 Ending Balance, December 31 Required: Using the above adjusted balances, prepare a classified balance sheet for 2015. (Amounts to be deducted should be indicated by a minus sign.) MINT CLEANING INC. Balance Sheet S 0 S 0 0 02 0 S Required: Using the above adjusted balances, prepare the closing journal entry as of December 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the closing entry for the above data. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal