Otta Wi 5. FINANCIAL STATEMENTS, CLOSING ENTRIES & TRIAL BALANCE P4-3A (LO 1. 3) AP The adjusted trial balance for Marine Fishing Centre is as follows: Cash MARINE FISHING CENTRE Adjusted Trial Balance March 31, 2024 Interest receivable Supplies Long-term investments Land Building Accumulated depreciation-building Equipment P.O Gift C Last dru Accumulated depreciation-equipment Accounts payable Interest payable Minus Sai Unearned revenue Notes payable ($6,000 must be paid in Feb. 2025) R. Falkner, capital R. Falkner, drawings tal Amou Sale(B) Short ( dations shift mi value o t leave t tolow the Service revenue Interest revenue Depreciation expense Interest expense Insurance expense Salaries expense Supplies expense Utilities expense Debit Credit $ 7,720 750 1,425 30,000 46,800 186,900 $ 31,150 36,200 18,100 5,875 990 2,190 66,000 165,300 46,200 124,300 1,500 9,850 3,960 4,500 30,000 5.700 5,400 $415.405 $415,405 Instructions a. Prepare an income statement for the year ended March 31, 2024. b. Prepare a statement of owner's equity. The owner, Rachael Falkner, invested $2,300 cash in the business during the year. (Note: The investment has been recorded and it is included in the capital account.) c. Prepare a classified balance sheet. d. Prepare closing entries. e. Use T accounts to post the closing entries and calculate the balance in each account. (Ignore the accounts not affected by the closing entries.) f. Prepare a post-closing trial balance and compare the balance in the R. Falkner, Capital account with the information in the statement of owner's equity.