Pastina Company sells various types of pasta to grocery chains as private label brands. The company's reporting year-end is December 31. The unadjusted trial balance as of December 31, 2021, appears below. Credits Debits 36,100 43,400 3,200 63,400 23,400 2,700 9,400 93,600 35,100 34,400 53,400 Account Title Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings Dividends Sales revenue Interest revenue Cost of goods sold Salaries expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals 3,700 83,800 37,000 7,400 163,000 87,000 20,600 12,700 0 2,800 4,700 410,400 410,400 Information necessary to prepare the year-end adjusting entries appears below. 1. Depreciation on the office equipment for the year is $11,700. 2. Employee salaries are paid twice a month, on the 22nd for salaries earned from the 1st through the 15th, and on the 7th of the following month for salaries earned from the 16th through the end of the month. Salaries earned from December 16 through December 31, 2021, were $1,650. 3. On October 1, 2021, Pastina borrowed $53,400 from a local bank and signed a note. The note requires interest to be paid annually on September 30 at 12%. The principal is due in 10 years. 4. On March 1, 2021, the company lent a supplier $23,400 and a note was signed requiring principal and interest at 8% to be paid on February 28, 2022. 5. On April 1, 2021, the company paid an insurance company $9.400 for a one-year fire insurance policy. The entire $9,400 was debited to prepaid insurance. 6. $980 of supplies remained on hand at December 31, 2021. 7. A customer paid Pastina $3,700 in December for 1,600 pounds of spaghetti to be delivered in January 2022. Pastina credited deferred sales revenue. 8. On December 1, 2021, $2,700 rent was paid to the owner of the building. The payment represented rent for December 2021 and January 2022 at $1,350 per month. The entire amount was debited to prepaid rent. Required: 1. & 2. Post the unadjusted balances and adjusting entires into the appropriate t-accounts. (Enter the number of the adjusting entry in the column next to the amount. Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Cash Accounts Receivable Beg. bal. Beg. bal. End. bal. End. bal. Prepaid Rent Prepaid Insurance Beg. bal. Beg bal. End, bal End. bal. Supplies Inventory Beg bal. Beg. bal. End, bal. End, bal. Note Receivable Office Equipment Beg. bal. Beg. bal. End, bal. End, bal. Interest Receivable Accumulated Depreciation Beg bal. Beg. bal. End, bal. End. bal. Accounts Payable Salaries Payable Beg bal. Beg. bal. End. bal. End, bal. Note Payable Interest Payable Beg. bal. Beg. bal. End. bal. End, bal. Deferred Sales Revenue Common Stock Beg. bal. Beg. bal. End. bal. End. bal. Retained Earnings Dividends Beg. bal. Beg. bal. End, bal. End. bal. Sales Revenue Interest Revenue Beg. bal. Beg. bal. End. bal. End. bal. Cost of Goods Sold Salaries Expense Beg. bal. Beg. bal. End. bal. End. bal. Rent Expense Depreciation Expense Beg. bal. Beg. bal. End. bal. End, bal. Rent Expense Depreciation Expense Beg. bal. Beg. bal. End. bal. End. bal. Interest Expense Supplies Expense Beg. bal. Beg. bal. End. bal. End. bal. Insurance Expense Advertising Expense Beg. bal. Beg. bal. End, bal. End, bal. 4. Prepare an income statement and a statement of shareholders' equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021. Assume that no common stock was issued during the year and that $7,400 in cash dividends were paid to shareholders during the year. Complete this question by entering your answers in the tabs below. Income Statement Statement of SE Balance Sheet Prepare the income statement for the year ended December 31, 2021. (Other expenses should be indicated with a minus sign.) PASTINA COMPANY Income Statement For the Year Ended December 31, 2021 0 0 0 0 $ 0 4. Prepare an income statement and a statement of shareholders' equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021. Assume that no common stock was issued during the year and that $7,400 in cash dividends were paid to shareholders during the year. Complete this question by entering your answers in the tabs below. Income Statement Statement of Balance Sheet SE Prepare the statement of shareholders' equity for the year ended December 31, 2021. PASTINA COMPANY Statement of Shareholders' Equity For the Year Ended December 31, 2021 Common Stock Retained Earnings Total Shareholders Equity Balance at January 1, 2021 Balance at December 31, 2021 4. Prepare an income statement and a statement of shareholders' equity for the year ended December 31, 2021, and a classified balance sheet as of December 31, 2021. Assume that no common stock was issued during the year and that $7,400 in cash dividends were paid to shareholders during the year. Complete this question by entering your answers in the tabs below. Income Statement Statement of SE Balance Sheet Prepare the classified balance sheet for the year ended December 31, 2021. (Amounts to be deducted should be indicated a minus sign.) PASTINA COMPANY Balance Sheet At December 31, 2021 Assets 0 0 Liabilities and Shareholders' Equity Liabilities and Shareholders' Equity 0 0 0 0 5. Prepare closing entries. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar.) View transaction list Journal entry worksheet 1 2 3 3 > Record the entry to close the revenue accounts. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general journal 5. Prepare closing entries. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Journal entry worksheet 1 23 Record the entry to close the expense accounts. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general journal 5. Prepare closing entries. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field. Do not round intermediate calculations. Round your final answers to nearest whole dollar.) View transaction list Journal entry worksheet 1 3 3 N Record the entry to close the dividends account. Note: Enter debits before credits. General Journal Debit Credit Date December 31, 2021 Record entry Clear entry View general journal 6. Prepare a post-closing trial balance. (Do not round intermediate calculations. Round your final answers to nearest whole dollar.) Credits PASTINA COMPANY Post-Closing Trial Balance December 31, 2021 Account Title Debits Cash Accounts receivable Supplies Inventory Notes receivable Interest receivable Prepaid rent Prepaid insurance Office equipment Accumulated depreciation Accounts payable Salaries payable Notes payable Interest payable Deferred sales revenue Common stock Retained earnings Sales revenue Interest revenue Cost of goods sold Salaries and wages expense Rent expense Depreciation expense Interest expense Supplies expense Insurance expense Advertising expense Totals $ 0 $