MNO Company Financial Data for February 28, 2024:

Account	Amount
Cash	$11,000
Accounts Receivable	$13,000
Inventory	$27,000
Accounts Payable	$7,000
Salaries Payable	$3,500
Equipment	$40,000
Accumulated Depreciation	$9,000
Bonds Payable	$20,000
Common Stock	$28,000
Retained Earnings	$21,000

Requirements:

1. Prepare a trial balance.
2. Record adjusting entries for the following:
   • Depreciation expense: $2,000
   • Salaries expense: $4,000
3. Create an adjusted trial balance.
4. Draft a balance sheet.
5. Discuss the role of consistency in financial statements.