Part 4: Prepare the Income Statement, the Statement of Retained Earnings, and a Classified Balance Sheet (in this order). Include the appropriate titles, subtotals and totals. (You may not use all the lines provided in the statements depending on how you label titles) Jones Contractors, Inc. Income Statement Year Ended December 31, 2023 Jones Contractors, Inc. CLASSIFIED Balance Sheet As of December 31, 2023 sure to include all the necessary subtotals and totals as outlined in Chapter 2 for a Classified Balance eet. You may not need to use all of the lines provided. Note: The two columns below do not represent bit and credit balances like they do on a trial balance. On the Balance Sheet, use the right column for btotals and totals.) entries are posted) Jones Contractors, Inc. December 31, 2023 Adjusted Trial balance In Dec. the company provided services worth $5,000 to clients that were not vet billed or recorded by Dec. 31. Record the additional revenue. 5. On Dec 31st the company completed a physical count of their supplies and determined that only $4,000 of supplies are still on hand. Part 2: Post the adjusting journal entries to t-accounts: (Hints on getting started: Above each T-account, write the account name of each account affected by an adjusting journal entry (you may not need to use all of the T-accounts). Write in the unadjusted balance for each of these accounts (from page 1)...the unadjusted balance might be a debit, a credit, or zero balance. Now you are ready to post your adjusting journal entries from page 2 onto the corresponding T-accounts and then calculate adjusted balances.) Part 1: Prepare adjusting journal entries using the unadjusted trial balance on the previous page and the information provided below. Use only the account names provided on the previous page (do not create any new account names). 1. The prepaid insurance balance reflects a12-month insurance policy which started on Sept. 1, 2023, and no adjustments were made from Sept. 1 - Dec. 31, 2023. Write the adjusting journal entry for Dec. 31, 2023. 2. Additional depreciation expense of $10,000 needs to be recorded for the year ended 2023. 3. Wages due to employees of $7,000 need to be recorded at year end. These wages will be paid to employees on January 9, 2024. (next month) 4. The company has completed $8,900 of the $17,900 in unearned revenue as of Dec. 31st. \begin{tabular}{|l|l|l|} \hline Rent Expense & & \\ \hline Insurance Expense & & \\ \hline Wages Expense & & \\ \hline Supplies Expense & & \\ \hline Interest Expense & & \\ \hline Income Tax Expense & & \\ \hline Total & & \\ \hline & & \\ \hline \end{tabular} 6. In January 2024 , Jones Contractors collected the accounts receivable (the revenue accrued) from the 12/31/23 adjusting journal entry (AJE \#5). Record the journal entry that would be made in Januarv 2024 for the A/R collection 7. If the company FAILS to record the adjustment to supplies from AJE \#6 - What is the impact to the Income Statement? What is the impact to the Balance Sheet? Jones Contractors, Inc. December 31, 20123 I Inadiuctod Trial halanno