P4.1 (LO 1, 2, 4) The trial balance columns of the worksheet for Wang Roofing at March 31, 2020, are as follows (amounts in thousands). Prepare a worksheet, fancial state ments, and adjusting and closing entries. CHAPTER 4 Completing the Accounting Cycle Wang Roofing Worksheet For the Month Ended March 31, 2020 Trial Balance Account Titles Dr. Cash 4,500 Accounts Receivable 3.200 Supplies 2.000 Equipment 11,000 Accumulated Depreciation Equipment 1.250 Accounts Payable 2,500 Unearned Service Revenue 550 Share Capital-Ordinary 12.900 Dividends 1,100 Service Revenue 6,300 Salaries and Wages Expense 1.300 Miscellaneous Expense 400 23.500 23,500 Other data: 1. A physical count reveals only 1480 of roofing supplies on hand. 2. Depreciation for March is Y250. 3. Unearned revenue amounted to V260 at March 31. 4. Accrued salaries are Y700. Instructions a. Enter the trial balance on a worksheet and complete the worksheet. b. Prepare an income statement and a retained earnings statement for the month of March and a classified statement of financial position at March 31. c. Journalize the adjusting entries from the adjustments columns of the worksheet. d. Journalize the closing entries from the financial statement columns of the worksheet. Adjusted trial balance V24,450 Net income 42,420 Total assets V17,680