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 $31,2024,$ appears below.

Account Title Debits Credits

Cash $ $31,700$

Accounts receivable $40,400$

Supplies $1,700$

Inventory $60,400$

Notes receivable $20,400$

Interest receivable $0$

Prepaid rent $1,100$

Prepaid insurance $6,400$

Office equipment $81,600$

Accumulated depreciation $ $30,600$

Accounts payable $31,400$

Salaries payable $0$

Notes payable $50,400$

Interest payable $0$

Deferred sales revenue $2,200$

Common stock $62,800$

Retained earnings $29,500$

Dividends $4,400$

Sales revenue $148,000$

Interest revenue $0$

Cost of goods sold $72,000$

Salaries expense $19,100$

Rent expense $11,200$

Depreciation expense $0$

Interest expense $0$

Supplies expense $1,300$

Insurance expense $0$

Advertising expense $3,200$

Totals $ $354,900$ $ $354,900$

Information necessary to prepare the year$-$end adjusting entries appears below.

Depreciation on the office equipment for the year is $$10,200.$

Employee salaries are paid twice a month, on the $22$nd for salaries earned from the $1$st through the $15$th$,$ and on the $7$th of the following month for salaries earned from the $16$th through the end of the month. Salaries earned from December $16$ through December $31,2024,$ were $$850.$

On October $1,2024,$ Pastina borrowed $$50,400$ 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.

On March $1,2024,$ the company lent a supplier $$20,400,$ and a note was signed requiring principal and interest at $8\%$ to be paid on February $28,2025.$

On April $1,2024,$ the company paid an insurance company $$6,400$ for a one$-$year fire insurance policy. The entire $$6,400$ was debited to prepaid insurance at the time of the payment.

$$530$ of supplies remained on hand on December $31,2024.$

The company received $$2,200$ from a customer in December for $850$ pounds of spaghetti to be delivered in January $2025.$ Pastina credited deferred sales revenue at the time cash was received.

On December $1,2024,$ $$1,100$ rent was paid to the owner of the building. The payment represented rent for December $2024$ and January $2025$ at $$550$ per month. The entire amount was debited to prepaid rent at the time of the payment.

Required:

$1$ to $3.$ First, post the unadjusted balances from the unadjusted trial balance that was given and the adjusting entries that were made in Problem $2-3$ into the appropriate T$-$accounts $($on the T$-$accounts tab$).$ Then prepare an adjusted trial balance.

$4-$a$.$ Prepare an income statement for the year ended December $31,2024.$ Assume that no common stock was issued during the year and that $$4,400$ in cash dividends were paid to shareholders during the year.

$4-$b$.$ Prepare a statement of shareholders' equity for the year ended December $31,2024.$ Assume that no common stock was issued during the year and that $$4,400$ in cash dividends were paid to shareholders during the year.

$4-$c$.$ Prepare a classified balance sheet as of December $31,2024.$ Assume that no common stock was issued during the year and that $$4,400$ in cash dividends were paid to shareholders during the year.

$5.$ Prepare closing entries and post to the T$-$accounts $($on the T$-$accounts tab$).$

$6.$ Prepare a post$-$closing trial balance.