Omega Foods began operations on January 1, Year 1. Below are the transactions for the first year:

Transaction #	Date	Transaction Description	Amount
1	Jan 1, Y1	Issued common stock for cash	$120,000
2	Jan 15, Y1	Purchased kitchen equipment for cash	$35,000
3	Feb 5, Y1	Purchased raw ingredients on account	$20,000
4	Mar 1, Y1	Paid cash for labor	$45,000
5	Apr 10, Y1	Produced food items (cost: $50,000)	-
6	Jun 1, Y1	Sold food items for cash (cost: $45,000)	$70,000
7	Sep 1, Y1	Paid cash for utilities	$5,000
8	Dec 31, Y1	Paid cash dividends to shareholders	$10,000

Required:

1. Record the transactions in the general journal.
2. Prepare the unadjusted trial balance as of December 31, Year 1.
3. Prepare the adjusted trial balance after considering necessary adjustments.