NELSON COMPANY Unadjusted Trial Balance January 31, 2022 Debit Credit Cash Merchandise Inventory Store Supplies Prepaid Insurance Store Equipment Accumulated Depreciation- Store Equipment Accounts Payable $ 1,000 12,500 5,800 2,400 42,900 $ 15,250 10,000 J. Nelson, Capital 32,000 J. Nelson, Withdrawal 2,200 Sales 111,950 Sales Discounts 2,000 Sales Returns and Allowances 2,200 Cost of Goods Sold 38,400 Depreciation Expense - 0 Store Equipment Salaries Expense 35,000 Insurance Expense 0 Rent Expense 15,000 Advertising Expense Store Supplies Expense Totals 0 9.800 $169,200 $169,200 REQUIRED: 1. Prepare adjusting journal entries to reflect each of the following:, a. Store supplies still available at fiscal year-end amount to $1,750. b. Expired insurance, an administrative expense, for the fiscal year is $1.400. c. Depreciation expense on store equipment, a selling expense, is $1,525. d. To estimate shrinkage, a physical count of ending merchandise inventory is taken. It shows $10,900 of inventory is still available at fiscal year-end. 2. Prepare a multiple-step income statement for fiscal year 2022. 3. Prepare a single-step income statement for fiscal year 2022. 4. Prepare a Statement of Owner's Equity for fiscal year 2022. 5. Prepare a Balance Sheet for fiscal year 2022. 6. Journalize closing entries. 7. Prepare an adjusted trial balance using the 8. Make a post closing trial balance